Qatar Chamber (QC) and the Federation of Iraqi Chambers of Commerce (FCCI) signed a memorandum of understanding on October 7, 2026 to establish the Qatar-Iraq Joint Business Council. The signing took place during a meeting between QC Chairman Sheikh Khalifa bin Jassim bin Mohamed Al-Thani and FCCI President Amer Khalaf Alawi and his Iraqi delegation, with Iraq’s ambassador to Qatar, Mohammed Jaafar Al Sadr, also present, according to Qatar News Agency (QNA). The memorandum aims to expand communication among institutions, companies and entrepreneurs in both countries, strengthen bilateral economic relations and develop cooperation involving small and medium-sized enterprises.

QNA reported that the meeting also reviewed around 60 investment opportunities linked to Iraq’s Development Road project, with an estimated total value of $250 billion. The areas listed included transport and logistics, manufacturing and economic zones, energy and utilities, mining, oil and gas, agriculture, information and communications technology, real estate and tourism. The figure is an estimate for an opportunity portfolio discussed at the meeting. The report does not describe it as a set of signed contracts, committed investment, financed projects or completed expenditure. It should therefore not be read as a confirmed new trade or investment flow between the two countries.

The council’s practical value will depend on whether it creates a regular channel for business contacts and information exchange. The chamber representatives described private-sector links and direct communication as priorities, but QNA did not report a date for the council’s first meeting, its membership structure, an operating calendar or financing for any specific project. It also did not break down the roughly 60 opportunities by sector or state how far each has progressed. The memorandum is thus an institutional framework step, not evidence that project implementation has begun. Useful next indicators will be the council becoming operational, opportunities being defined project by project, and announcements of investment decisions or signed contracts.

The memorandum could become more tangible for firms if the chambers provide referrals, market information and business-matching services to their members. The signing report does not say such services have begun or that participating companies have made investment decisions. The estimated value of the opportunity pipeline is not, by itself, a measure of economic impact; assessment would require project financing, contracts, realized investment and trade data.