Last updated: 20 Jan 2012
Market profile
Doing business
Exporters should be aware that Australia maintains United Nations Security Council sanctions in respect of Iraq. These sanctions require Australian organisations and individuals to comply with a range of measures and, in general, also apply extraterritorially to Australian nationals overseas.
More information on doing business in Iraq
Country Profile
Content supplied by Department of Foreign Affairs and Trade
- ECONOMIC CLIMATE
Following years of conflict and economic sanctions, the Iraqi economy is improving slowly.
» read more at DFAT
- POLITICAL CLIMATE
Iraq is a federal constitutional democracy. The Head of State is the President.
» read more at DFAT
- TRADE RELATIONS
Historically, Australia's primary commercial interest in Iraq has been wheat, which it has exported to Iraq for over 50 years.
» read more at DFAT
(Image courtesy of Wikitravel)
Top Business Risks
OECD Guidelines for Multinational Enterprises
Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the AusNCP website.
Extractive Industries Transparency Initiative
The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.
The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.