Baghdad: The Iraqi Ministry of Trade confirmed agreements with companies from Germany, China, and Brazil to open car production lines in Iraq. The ministry noted that the cars produced will run on natural gas and will be available on installments.
According to Yemen News Agency, the ministry's official spokesperson, Mohammed Hanoun, stated that "the project to open global car assembly lines in Iraq is proceeding according to technical and regulatory procedures with multinational companies." He mentioned that the project represents a step towards the 'Made in Iraq' slogan and aims to employ local workers and provide economical and environmentally friendly cars.
Hanoun noted that the project timeline has not been delayed, countering some public perceptions. An official visit, led by the Minister of Trade and several officials, resulted in agreements with Brazilian, German, and Chinese companies to establish branches in Baghdad and other governorates.
These companies have signed memoranda of understanding and bilateral agreements to initiate assembly lines in Iraq, as part of industrial and economic cooperation. Special sites have been prepared for the project in southern Baghdad and other areas of the country, pending the completion of technical procedures for the companies.
Hanoun highlighted the project's goals, including employing at least 50% of the Iraqi workforce, developing the national industry, and potentially exporting a portion of the production if large quantities become available to meet local demand.
He further explained that the cars assembled in Iraq will be advanced, environmentally friendly, and gas-powered, offering an economical alternative to gasoline. These vehicles will be accessible to low-income citizens through installment plans with very low interest rates.