Iraq Chambers of Commerce have joined forces with the Trade and Economic Research Centre (TREC) to build a stronger knowledge economy. This strategic agreement aims to connect academic research with Iraq’s commercial and economic realities, creating practical solutions for local businesses.
The partnership focuses on transforming theoretical studies into actionable strategies that enhance market competitiveness and support evidence-based decision-making. Both organizations agree that this cooperation will provide Iraq’s economy with tools for sustainable growth.
Through the agreement, the Federation of Iraqi Chambers of Commerce will grant TREC access to valuable private sector data. This collaboration will enable TREC to create research outputs and recommendations tailored to Iraq’s unique economic environment. The plan is to deliver accurate, science-based indicators that help traders and institutions make informed decisions.
However, leaders from both parties view this deal as a major milestone in aligning academic knowledge with commercial practices. They also committed to hosting joint scientific and business events, developing advanced market analysis tools, and sharing expertise.
The Iraq Chambers of Commerce and TREC will further provide economic advisory services to policymakers. This effort aims to ensure that government decisions align with market needs and rely on credible research. By doing so, they hope to create policies that reflect Iraq’s evolving economic landscape.
Furthermore, this agreement reflects a broader trend in Iraq to integrate innovation and knowledge into economic planning. Experts believe such partnerships are essential for driving modern reforms and addressing long-standing challenges within the private sector.
The Iraq chambers of Commerce highlighted the importance of supporting businesses with real-time market data. TREC emphasized its goal of applying academic expertise to create a measurable economic impact across industries. Together, they seek to strengthen Iraq’s ability to compete globally.
This initiative also aligns with Iraq’s vision for economic diversification. As the country seeks to reduce its dependence on oil revenues, fostering a knowledge economy becomes critical. Successful implementation of this partnership could inspire more collaborations between academia and commerce in Iraq.
Nevertheless, by merging research with practical experience, Iraq’s economic leaders can promote innovation, attract investments, and boost job creation. This model has been effective in other countries and could help Iraq achieve similar success.
