"He pointed out that bilateral relations between the United States and Iraq is entering a new phase of the link trade"
02 September, 2010
15 U.S. companies on trade mission to Iraq in October
Ministry of Commerce announced Wednesday that it will lead the U.S. 15 U.S. companies, including Boeing, General Electric, in a trade mission to Iraq in October next.
He said Undersecretary Francisco Sanchez in an official statement saying that this mission will link U.S. companies and Iraqi forces in a partnership to rebuild the Iraqi economy.
He pointed out that bilateral relations between the United States and Iraq is entering a new phase of the link trade.
VinTV
and ...
MISSION STATEMENT: Business Development Mission - Iraq Baghdad October 2010*
Mission Description
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. This mission is scheduled for October 2010* and has been created to assist U.S. firms find business partners and sell equipment and services in the promising Iraqi market.
This mission will be led by a Senior Commerce Department official*. Nearly two thirds of Iraq’s 112 billion dollar economy relies on our target export industries such as petrochemical technology and machinery. Therefore, our 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.
The mission’s goal is to provide U.S. participants with first-hand market information, access to government decision makers as appropriate from the Government of Iraq (GOI), as well as one-on-one meetings with business contacts, including potential agents, distributors, and partners, to position themselves to enter or expand their presence in these sectors.
Commercial Setting
The unprecedented interest of the United States-Iraq Business and Investment Conference (USIBIC) and the successful talks from the United States-Iraq Business Dialogue (USIBD), both held in mid-October, 2009, have opened a unique economic and investment window of opportunity in the region. The mission will also follow Iraq’s successful national elections, held on March 7, 2010.
Iraq continues to improve its security and to build an environment that is more conducive to trade and economic development. In November 2009, the Iraq Parliament passed an amendment to Investment Law No. 13 that would allow foreigners to own land for housing projects. It is designed to help streamline regulations and applications for foreign business and investment. Iraq’s government has budgeted over $80 billion for infrastructure development, focusing on a number of large projects relating to construction, highways, railways, telecommunications, and security and defense.
Baghdad is the capital of Iraq. With a municipal population of 6.5 million (out of 29 million total in Iraq), it is the largest city in Iraq and the second largest in the region. Iraq’s gross domestic product (GDP) grew from $57 billion in 2006 to $112 billion in 2009. GDP per capita has surpassed $3,000 and is forecast to exceed $4,500 by 2014. The U.S. is Iraq’s 3rd largest trading partner, directly behind Syria and Turkey
Iraq has a business culture in which deals are made on the strength of personal contacts. This trade mission offers U.S. company representatives an excellent introduction to a broad range of Iraq officials as well as an opportunity to begin identifying appropriate business partners.
Mission Goals
The goal of the trade mission is to provide U.S. participants with first-hand market information, access to government decision makers as appropriate and one-on-one meetings with business contacts, including potential agents, distributors, and partners, so that they can position themselves to enter or expand their presence in Iraq. Thus, the mission will:
Improve U.S. industries’ understanding of commercial opportunities in Iraq.
Facilitate business meetings between U.S. and Iraqi businesses to expand U.S. exports to Iraq and U.S. commercial opportunities in Iraq.
Introduce U.S. industry to the Baghdad business community and government leaders.
Mission Scenario
The Trade mission will take place in Baghdad, Iraq. Participants will meet with new business contacts, learn about the market by participating in Embassy briefings, and explore additional opportunities at networking receptions. Activities will include one-on-one meetings with pre-screened business prospects in both countries. (Note that the regular workweek in Iraq is Sunday through Thursday.)
http://trade.gov/trade-missions/mission-statements/business-devleopment-mission-to-iraq-october2010.asp
