(IraqiNews.com) – Iraq has taken a major step in its agricultural export sector by shipping vegetable oils abroad for the first time. The Iraqi Ports Company announced on Friday that 40,000 tons of high-quality soybean oil were successfully exported from Umm Qasr South Port to markets in Pakistan and India. This milestone marks Iraq’s growing role in the global vegetable oil market.
Diversifying Iraq’s Economy
The shipment, which departed from Berth No. 2 at Umm Qasr South Port, represents a strategic move in Iraq’s efforts to diversify its economy beyond crude oil. By entering the vegetable oil trade, the country strengthens its agricultural export sector while creating new revenue streams from non-oil industries.
The Iraqi Ports Company highlighted that a section of Umm Qasr South Port has been converted into an industrial zone, now home to a manufacturing facility for oils and animal feed, established through joint ventures. This development is expected to enhance local production, boost export capacity, and generate economic opportunities.
Boosting Economic Growth
This milestone is set to open new international markets for Iraqi agricultural products. The successful export of soybean oil could attract further investment in Iraq’s agriculture and food processing sectors, strengthening the country’s trade potential.
Expanding agricultural exports will also contribute to job creation, as increased investments in the sector drive employment opportunities, fostering economic stability and growth.
Iraq’s first-ever vegetable oil export reflects its evolving economic landscape. With rising investments in agriculture and food industries, the country is positioning itself as a competitive player in global markets. This breakthrough not only diversifies exports but also paves the way for long-term, sustainable economic growth.
