Petrochimi defeated Qalandia from Palestine 100-61 in Baghdad, Iraq.
Chemidor defeated Al Jaych of Syria 80-55. Chemidor will meet Naft Baghdad on Thursday and win the title if it manages to beat its rival.
This is a monumental tournament for the Iraq capital, which is hosting its first major basketball event since 1988.
The competition will qualify spots for champions of their respective countries in Round 1 of the FIBA Asia Champions Cup, where four slots for teams from WABA are allocated. Therefore, the top four teams at the FIBA Asia Champions Cup WABA Qualifiers 2019 will each gain a qualifying spot for their respective country in the succeeding round.