London, United Kingdom (uk.gov.krd) Iraqi Business Council (IBBC) hosted the new Iraqi Ambassador to the UK, HE Mr Mohammad Jaafar Al-Sadr and the Kurdistan Regional Government High Representative to the United Kingdom, Mr Karwan Jamal Tahir for keynote speeches at London Business Forum.
The conference brought together Kurdish delegation led by Dr Dara Jalel Al-Khayat, Chairman of Federation of Chambers of Commerce and Industry of Kurdistan, the Chair of the Importers and exporters association in Kurdistan, and Iraqi Business delegates from Babil, Baghdad and Basra Chambers. The visit of Kurdish delegation aimed at presenting the Region’s business capability across key sectors.
Baroness Nicholson of Winterbourne, the Prime Minister’s Trade Envoy for the Federal Republic of Iraq and President of the Iraq Britain Business Council (IBBC) said: “ we are here to promote business and in doing so create jobs and prosperity, knowledge transfer and training and in addition an exchange of best practice in governance, health and safety, regulatory frameworks and a respect for human rights.” She added: “I have recently been in Erbil and Bagdad and it was made very clear to me in both cities that Iraq is looking to the UK and its thousands of businesses , large and small to get involved in the Iraqi economy and both national and regional governments are determined to make it easier for all international businesses to operate there , promising less red tape and bureaucracy and modernising the regulatory framework .”
HE Mr Mohammad Jaafar Al-Sadr said: “This event and similar events are crucial for Iraq in attracting foreign investors to invest in Iraq, especially in sectors like electricity, water, health, construction, and industry to enhance economic development in the country and to provide the needs for the Iraqi market.” He added: “Iraq benefits from its strategic location, vast natural resources and educated workforce, also a friendly investment law which gives a lot of advantages to foreign investors, such as 10 years tax exemption, the right to employee foreign employers and etc.”
High Representative Karwan welcomed the Kurdish and Iraqi delegations to the UK and recognised the conference as an opportunity for the delegates to embark on the start of new commercial ties with the UK partners. He emphasised the importance of UK investment in the Kurdistan Region and how it will generate jobs and drive prosperity at home and abroad. He said: “the KRG has taken substantial measured to enact reforms with the aim to further establish the Region as a major destination for both the regional and global business communities.”
He also emphasises the government’s policies, priorities and the perspective on foreign investment coupled with the new era of reviving the economy of Kurdistan Region that has begun again, adding that the government’s investment priorities are agriculture, industry, and tourism. High Representative Karwan Tahir strongly advised foreign investors to invest in these potential sectors.