IRAQ

India - Iraq Economic and Commercial Relations

Trade and economic relations between India and Iraq have traditionally been close. Before the Gulf War in 1990-91, Iraq was one of the major sources of India`s oil imports and one of the biggest markets for India`s project exports, mostly in the construction sector. With the onset of Gulf crisis in 1990 and the imposition of UN sanctions, India`s trade with Iraq suffered seriously. In line with the relevant UN resolutions, India decided in June 1991 to partially lift the ban on trade with Iraq. It was expanded further under UN`s Oil for Food Programme in September 1996.