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700 firms attend major trade exhibition in Baghdad

10 October 2013 22:45 (UTC +04:00)

Baku-APA. The 40th Baghdad International Fair in Iraq started on Thursday with the participation of some 700 companies from 36 countries, APA reports quoting Xinhua.

In the opening ceremony, Iraq's Deputy Prime Minister Hussein al-Shahristani said that "the contribution of foreign companies in the Baghdad international fair is a sign of confidence by the international community in Iraq."

"Iraq has achieved annual economic growth of 10 percent during the past four years, which is among the highest in the world, and Iraq believed to continue such growth rate level in the coming five years," Shahristani said.

Shahristani also promised that "2014 will be the year of investment in Iraq as we have invited major world companies to create an enormous strategic projects in Iraq."

The exhibition was held under tight security measures and the Iraqi forces blocked the roads leading to the fair.

Iraq is seeking foreign investment to reconstruct the country after suffering from neglect throughout the long years of sanctions, wars and chaos.