£1 billion funding to support Ukiraq exports

International Trade Secretary Liam Fox has announced £1 billion of funding to support UK exports to Iraq.

Dr Fox, who is visiting Baghdad, said the money would “significantly strengthen” the government’s ability to play a key role in the country’s “longterm prosperity”.

His three-day trip to the country – where he will meet the Iraqi prime minister and president for trade talks – marks the first time a Cabinet minister has visited Baghdad for more than a year.

The £1bn investment, from government agency UK Export Finance, will be available for British firms operating in Iraq and aims to provide jobs and promote stability in the region.

It is hoped it will promote Iraq’s economic development and deliver critical infrastructure.