IBBC MEMBERS PROFILE
Basrah Chamber of Commerce
Basrah Chamber of Commerce is the oldest business chamber in Iraq. No one is quite sure when it was established. Some Basrah historians say 1906, others 1926.
Whatever the date Basrah Chamber is extremely proud of its role in the city’s development and of its work bolstering Basrah’s reputation as one of the top trading centres in the Gulf region.
More than a thousand companies
The Basrah Chamber is financially independent with a 14-strong board of directors, plus the Chairman and two deputies.
More than a thousand companies are registered and the total membership is just over 25,000.
It is a non-governmental and not-for-profit body.
In the last decade, following the fall of the previous regime in Iraq, Basrah Chamber of Commerce has set itself two important goals.
The first: to develop the activities of its members through regular meetings with their counterparts or exchange visits with similar bodies elsewhere in the Gulf region.
Second: to boost Basrah’s commercial and economic potential with the aim of making the city Iraq’s economic capital and one of the most important.
Oil is king
The city’s economy is largely dependent on the oil industry.
Some of Iraq’s largest oil fields are located in the province, and most of Iraq’s oil exports leave from Al Basrah Oil Terminal. The South Oil Company South Oil has its headquarter in the city.
Substantial economic activity in Basrah is centered around the petrochemical industry, which includes the Southern Fertilizer Company and The State Company for Petrochemical Industries.
For more information www.bcoc-iraq.net/English/index.htm