The definition of an Emerging Market Country is “a society transitioning from a dictatorship to a free-market-oriented-economy, with increasing economic freedom, gradual integration with the Global Marketplace and with other members of the GEM (Global Emerging Market), an expanding middle class, improving standards of living, social stability and tolerance, as well as an increase in cooperation with multilateral institutions”1 After more than 10 years of freedom from Saddam’s regime, Iraq has only just begun to show it’s potential as an Iraq emerging market economy.
The current Iraqi government spends $130 billion a year, and that does not express the income generated by Iraqi private businesses. Pharmaceutical companies, products, new technologicies and more are being brought to Iraq, and their businesses are thriving because of the newfound economic freedom and development of Iraq over the past 10 years.
Because of Iraq’s rich natural resources — it’s oil and land — it is an Iraqi emerging market with many untapped resources. The Iraqi Research Foundation for Analysis and Development is capable of market research on an intimate level, and we look forward to working with private businesses and consumers to connect and develop Iraq emerging markets.
1. Kvint, Vladimir (2009). The Global Emerging Market: Strategic Management and Economics. New York, London: Routledge.