Iraq Investment and Reconstruction Task ForceThis site is maintained by the Iraq Investment and Reconstruction Task Force (IIRTF) of the U.S. Department of Commerce. The IIRTF provides information and counseling to companies pursuing business opportunities in Iraq. [MORE]
U.S. Under Secretary of Commerce to Lead Historic Trade Mission to Iraq
New commercial opportunities in Iraq will help American companies increase their exports, create jobs in the United States
Francisco Sánchez, Under Secretary of Commerce for International Trade, will lead an historic trade mission to Baghdad, Iraq, in October. Sánchez will accompany representatives from 15 U.S. companies on the department’s first trade mission to Iraq since the end of the U.S. combat mission in Iraq.
“The U.S.-Iraq bilateral relationship is entering a new phase of commercial engagement,” Sánchez said. “This trade mission will connect American and Iraqi companies in a partnership to rebuild the Iraqi economy. This mission will be economically and commercially beneficial to U.S. and Iraqi firms, and the citizens of Iraq.”
For a list of participating companies and other details, view the press release.
Iraqi Ministry of Trade Announces 2010 Baghdad International Fair
The Iraqi Ministry of Trade / State Company for Iraqi Fairs has announced the 37th session of the Baghdad International Fair to be held from November 1-10, 2010. More details are available on the events page.
Ex-Im Bank Announces Expanded Services in Iraq
On July 22nd, the Export-Import Bank of the United States (Ex-Im Bank) opened in Iraq to help finance short-term and medium-term sales of U.S. exports to Iraqi buyers in both the public and private sectors.
Ex-Im Bank can provide export-credit insurance, loan guarantees and direct loans for creditworthy export sales to Iraq. Short-term insurance is available for transactions with repayment terms of 180 days or less, and up to 360 days for capital goods. Medium-term insurance, loan guarantees and loans are available for transactions with terms of up to seven years.
The Bank’s working capital guarantees (which help U.S. exporters or their suppliers to obtain funds to produce or buy goods or services for export) are available to support exports to Iraq.
The Bank can consider providing long-term support where there are financing arrangements that eliminate or externalize country risks, such as asset-backed financings and structures that earn revenues offshore in a third country.
The Country Limitation Schedule at www.exim.gov provides specific criteria for structuring transactions in both the private and public sectors. For more information, see Ex-Im Bank’s website.
U.S. Businesses Seek Trading Opportunities in Iraq
More than 120 U.S. companies and almost 100 Iraqi business and government representatives participated in a catalogue show in Baghdad in late June 2010. Read more
U.S. Commercial Service Officer in Baghdad Featured in “PowerGen Worldwide” Q&AA Q&A with U.S. Commercial Service Officer Brian McCleary on the business environment in Iraq is now available in hard and soft copy in Power-Gen Worldwide publications. The Q&A addresses general business questions as well as discussing specific power energy sector questions. Read more
Application Period Closed for Trade Mission to Baghdad, Iraq
The United States Department of Commerce, International Trade Administration, U.S. and Foreign Commercial Service (US&FCS) is organizing a trade mission to Baghdad, Iraq in October 2010.
The mission will assist U.S. participants in positioning themselves to enter or expand their presence in these sectors in Iraq. The targeted sectors include, but are not limited to: oil and gas (including oil field and upstream equipment, technology, and services); construction (including engineering, architecture, transportation, and infrastructure); and information and communications technology.
Participants will receive first-hand market information, access to government decision makers from the Government of Iraq (GOI), and one-on-one customized meetings with business contacts, including potential agents, distributors, and partners.
Recruitment for the trade mission closed on Monday, July 19th, 2010.
Visit the Website View the Flyer Read the Federal Register Notice
To learn more about the markets, review the updated Investor Guide and Investment Overview published by the National Investment Commission (NIC) of Iraq in September 2009. The guide and overview feature investment opportunities and general sector overviews in all the Iraqi provinces as well as focusing on the twelve industry sectors featured at the conference – agriculture, banking/finance, defense, electricity, health, education, housing/construction, industry, oil/gas, telecommunications, tourism, and transportation.
Click here to see the updated reports.
USDA Agribusiness Trade Mission to Baghdad
At a ceremony on June 7, 2010, Ambassador Christopher R. Hill, Minister of Trade Dr. Safaeddin Mohamed Safi, and Senior Deputy Minister of Agriculture Dr. Subhi Al-Jamailly welcomed the first U.S.-Iraq Agriculture’s Foreign Agriculture Trade Mission to Baghdad. Head of delegation Dan Berman led a group of officials from the U.S. Department of Agriculture (USDA) and 18 major U.S. agriculture companies who came to Iraq looking to invest in Iraq’s future development.
Companies participating in the mission included: Archer Daniels Midland, Chore-Time Brock, Case New Holland, Dantzler, Estmar Global, Global Export Marketing, Ground Works Inc., Hakan Agro Group, Hay Day Farms, JM Grain, John Deere, Lamex, Midamar Corporation, Monsanto, Mountaire Farms, Riceland Foods, San Joaquin Distributors and The Rice Company. View Press Release Read more
Ministry of Oil Changes Oil Refinery Conference to June
The Ministry of Oil, in conjunction with Iraq’s National Investment Commission (NIC), is inviting interested investors to attend a conference at the Ministry of Oil on June 26th, 2010. Applications to participate are due by June 5th, 2010. Please note the changed dates. The conference is being held to discuss oil refinery opportunities in Kirkuk, Karbala, Nassariya and Missan.
The Ministry will be clarifying the investment law No. 64 of 2007 (of private investment in Crude Oil Refining) and a plan of implementing the new refineries and the stage of these Refineries as they stand now:
1. Nassyria Refinery 300000BBD (Front End Engineering Design-FEED- by Foster Wheeler) 2. Missan Refinery 150000BBL/D (Front End Engineering Design-FEED- by Shaw Ston and Webester) 3. Kerbala Refinery 140000BBL/D (Front End Engineering Design-FEED- by Technip of Italy) 4. Kirkuk Refinery 150000BBL/D (Front End Engineering Design by-FEED- by Shaw Ston and Webester) The Ministry have requested invited companies (Investors + Engineering companies for above projects) to make a reply by e-mail nominating the representatives of the company who will participate in the Symposium.
Interested investors should contact the NIC at info@investpromo.gov.iq to request an invitation to the conference. Your email should include: company representative’s name, company name, home office address and website. View Announcement
Recruitment Closed for New Members on the U.S. – Iraq Business Dialogue
The U.S. Department of Commerce, International Trade Administration, accepted applications to fill ten vacant positions on the U.S. - Iraq Business Dialogue through May 31, 2010. The Dialogue is a bilateral forum designed to facilitate private sector business growth in Iraq and to strengthen trade and investment ties between the United States and Iraq. The Federal Register Notice provided eligibility and requirements: http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=2010_register&docid=2010–11471.pdf.
As outlined in the Federal Register Notice, applications must have been received no later than May 31, 2010; 5 p.m. EDT. No further applications are being accepted. A review process will occur and selected applicants will be notified directly.
Business Week Highlights Iraq Investment
the April 22, 2010, issue of Business Week includes a report on the growth of investment in Iraq. View article
2010 Iraq Investment Climate Statement Now Available
Every year, the U.S. Department of State compiles Investment Climate Statements to provide thorough descriptions of overseas environments in which U.S. investors must operate.
This updated report for Iraq is now available in its most recent issue online, free of charge for your convenience. View 2010 report
Investment Magazine Features Iraq
Iraq is featured in a December 2009 edition of fDi Magazine, a magazine dedicated to providing up-to-date coverage of global investment.
View the online edition featuring “Iraq: The new FDI frontier”.
International Security Guidelines and Updates Available
Thinking of investing in Iraq and would like to learn more about the security situation?
The Overseas Security Advisory Council (OSAC) has up-to-date information on security for the U.S. private sector across the globe, including in Iraq. OSAC is a Federal Advisory Committee with a U.S. Government Charter to promote security cooperation between American business and private sector interests worldwide and the U.S. Department of State.
OSAC currently encompasses the 34-member core Council, an Executive Office, over 100 Country Councils, and more than 6,000 constituent member organizations and 372 associates.
Private sector entities incorporated in the U.S., to include businesses, non-governmental organizations (NGOs), academic and faith-based institutions, are eligible for OSAC constituency. Visit the website to learn more: http://www.osac.gov/.
U.S.-Iraq Business and Investment Conference Convened in Washington, DC
The U.S.-Iraq Business and Investment Conference was held October 20-21, 2009, in Washington D.C.
Iraq was represented by Prime Minister Nouri al-Maliki, the Chairman of the National Investment Commission, the Ministers of Oil, Trade, Finance, and Agriculture, Governors of Iraq's provinces, and a contingent of prominent business leaders.
Approximately 1,100 U.S. and international businesspeople, potential investors and government agency representatives attended the sold-out conference.
"Why invest in Iraq? There has never been a better time to invest in Iraq. Iraq has emerged from the conflicts of the past with tremendous potential for investment from local, regional and global companies." - Dr. Sami Al-Araji, Chairman of the Iraqi National Investment Commission Read the Conference Summary in the November 2009 ITA Newsletter
Read more about the Conference.
Updated Investment Overview and Investor Guide Released by National Investment Commission of Iraq
In advance of the USIBIC, the National Investment Commission (NIC) of Iraq has provided a new Investor Guide and Investment Overview.
Click here to see the updated reports.
The Muthanna Investment Commission (MIC) welcomes you to visit their website http://www.miciraq.org to learn more about the province and investment opportunities available. Also, feel free to contact them at mailto:samawa_investment@yahoo.com?subject=Inquiry%20from%20US%20Dept%20of%20Commerce%20Homepage to discuss your investment partnership ideas.
2009 Iraq Country Commercial Guide Now Available
Every year, the U.S. Commercial Service office in Baghdad puts together an overview of the economic, legal, political, and financial systems in Iraq, with a view toward providing useful information for U.S. businesses interested in investment in or trade with this country. This report is now available in its most recent issue online, free of charge for your convenience. View report
The Federal Register Notice includes eligibility and requirement information: http://edocket.access.gpo.gov/2009/E9-59.htm%5D.
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