Partner's first plan for Iraq during the 70-80 years, France has seen its trade decline as a result of economic sanctions in the 90s. They declined further following the military intervention of 2003, our exports falling to 143 M € in 2004 for capping from (173 M € in 2008, a market share below 1%).
However rebalancing therefore took place in 2009, our exports reaching € 413 million (up 139%) while under the influence of the international economy (lower oil prices and economic slowdown in Europe), our imports were halved (838 M € in 2009) a decrease of 42%. This combination of factors reduced our trade deficit 1.3 bn to € 426 million.
In the first eight months of 2010, our imports have increased by 37% (€ 831 million due to higher oil prices and economic recovery.
France has canceled approximately € 4.8 billion of Iraqi debt between 2005 and 2008, under the Paris Club. This cancellation 80% of Iraq's obligations towards us is the largest effort among Western countries.
Presentation IRAQ - Slideshow