Iraq, Austria resume trade relations

Iraq and Austria have assumed trade relations following eight years of suspension.

The Iraqi daily Nabd al-Shabab said on Monday that Iraq signed with an Austrian delegation currently visiting Baghdad an agreement on commercial exchange and cooperation.

The paper added, quoting a source at the Iraqi Trade Ministry, that the two sides discussed means of facilitating an agreement on trade exchange between the two countries in the framework of the UN-administered oil-for-food deal.

The Iraqi paper quoted the chairman of the Austrian delegation, Joseph Mayor, who is also acting minister of Austrian foreign economic relations, as saying that the objective of the visit is to resume commercial relations between Iraq and Austria. He added that he will work for bringing Austrian goods to the Iraqi market and Iraqi goods to the Austrian markets.

Mayor arrived in Iraq last week leading an economic delegation comprising 25 experts representing several Austrian companies in a step from Vienna toward resuming its economic relations with Iraq.