Iraqi Commercial Activity &  Business Development Opportunities - August 2016

Iraqi Commercial Activity & Business Development Opportunities - August 2016

Iraq commercial activity fell to four deals in the month of July, as detailed in the August Commercial Report. However, this likely reflects the typical summer doldrums, possibly made worse by Ramadan falling in June this year. We expect we won’t se a rebound of activity until September. However, three IOCs agreed to restart investing in Iraq, heralding a possible uptick in activity in the coming 6-18 months. Meantime, progress continues to be made with the government with long-awaited appointment of five new ministers in Abadi’s cabinet, and continued progress in pushing ISIS out of Iraq. Most business activity meantime continues in the same vein as the rest of the year so far - focused on Energy and Defense, and mostly in the south, away from the IS and economic downturn in Kurdistan