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Iraq Investment and Reconstruction Task Force

This site is maintained by the Iraq Investment and Reconstruction Task Force (Task Force) of the U.S. Department of Commerce. The Task Force provides information and counseling to companies pursuing business opportunities in Iraq. [MORE]

Iraq Energy Expo and Conference, April 23-26th, 2013

The Iraq Energy Expo and Conference is the only official government-sponsored expo and conference by the Iraq Ministry of Oil. Previously, there have been more than 80 companies, from 17 countries attending and participating in the expo and conference. They welcome all international companies to participate in upstream and downstream development.

There will be an extensive expo and an engaging conference with hands-on workshops looking at present needs, tenders and future opportunities.

For more information, please visit their website: http://www.iraqenergyexpo.com/

If you have any questions, please contact Nadia Ommar at (858) 568-0211 or Nadia@iacci.info.

US FAA lifts ban on commercial planes flying into Kurdistan

The United States Federal Aviation Agency (FAA) announced the lift on its ban for commercial planes to fly from the US into Kurdistan. The FAA imposed the ban in 1986 for safety and security reasons. “The FAA has determined that flights by US operators may now be conducted safely into Erbil and Sulaymaniyah Airports under certain conditions,” said in a statement. The new regulation will benefit private jets and cargo services for the Kurdistan region. The FAA said it is evaluating other airports in Iraq to determine if additional lifting of the restrictions might be warranted.

The 3rd Edition Trade Finance Guide is now available!

The most up-to-date information on trade, financing and credit can be found in the new 3rd Edition Trade Finance Guide. This reference provides businesses with the know-how to bring products and services to overseas markets.

The Trade Finance Guide was created to help businesses learn the basics of trade finance so that they can turn their export opportunities into actual sales and achieve the ultimate goal of getting paid—especially on time—for those sales. Concise, two-page chapters offer the basics of numerous financing techniques, from open accounts, to forfaiting, to government assisted foreign-buyer financing.

Download your copy here.

Department of Commerce General Counsel Cameron Kerry Presents Ali Qaragholi with Certificate of Appreciation

Commerce’s General Counsel Cameron Kerry presented Ali Qaragholi, Vice Chairman of the U.S. Iraq Business Dialogue, with a certificate of appreciation in Baghdad, Iraq on June 28, 2012. Ali Qaragholi received this for his tireless and productive efforts to enhance U.S.-Iraqi commercial relations.

The third round of the U.S. Iraq Business Dialogue took place at the AlRasheed Hotel in Baghdad on June 28th, 2012. The Dialogue consists of a U.S. and an Iraqi Section of private sector representatives. The Sections provide advice and counsel to the U.S. Department of Commerce and the Iraqi Ministry of Trade on trade, investment and commercial development issues.

Please find the report and policy recommendations from this meeting here.

New Business Services for U.S. Exporters Available at Embassy Baghdad

In addition to continued counseling and advocacy services, the Commercial Service office in Baghdad now offers a broader portfolio of services for U.S. exporters.

A key new service available is the modified “International Company Profile” service, to help U.S. companies evaluate potential business partners by providing a detailed report on Iraqi companies. Learn more

Visit the Commercial Service Iraq Home Page

Iraq Business Survey and Regional Business Agendas Available Online

The Center for Private Enterprise (CIPE) works with the private sector in Iraq to build an institutional foundation for economic growth and democratic stability. In July 2011, CIPE published their updated 2011 Iraq Business Survey results and presentation online. Also available on their website now, are regional business agendas developed for Kurdistan, Najaf, Basrah, and Anbar.

Visit the CIPE Iraq Home Page

U.S. Business Council Iraq Attends Baghdad International Trade Fair

Members of the U.S. Business Council Iraq (USBCI), a private sector business association, in partnership with the U.S. Chamber of Commerce and the U.S. Departments of State and Commerce, collaborated to organize a “USA Pavilion” at the Baghdad International Trade Fair, ending on November 10, 2011. This Pavilion was the first since 1988, with 85 companies and universities from the U.S. represented. Learn more about the USBCI

Business Briefing by Iraqi Energy Sector Officials to be Hosted in Houston, Texas

The U.S. Trade and Development Agency (USTDA) sponsored a Reverse Trade Mission (RTM) for a delegation of energy sector officials from Iraq’s Ministry of Oil (MOO) and State Company for Oil Projects (SCOP) in late October / early November 2011.

The goal of this RTM was to support economic growth in Iraq and the modernization of the country’s energy infrastructure. The program exposed the delegation to U.S. companies with products, services and/or technologies that can competitively respond to up-coming procurements in the oil & gas sector. It also featured a one-day business briefing in Houston, and a short visit to Washington, DC to meet with relevant oil and gas agencies, industry associations and companies.

Anbar Province Announces Istanbul Investment Conference

Under the patronage of H.E. Vice President Tariq Al-Hashimi, the Anbar Investment Commission hosted Al Anbar 2nd Annual Investment Conference, from October 24-26, 2011, in Istanbul, Turkey. Read more

Ministry of Oil Announces Third Pre-Qualification Process for International Oil Companies

The Iraqi Ministry of Oil announced on its website a May 19 deadline for international oil companies to register to compete for the fourth bidding round scheduled for January 2012. Pre-qualified companies that were not successful in the previous three licensing rounds must update their documents, while new companies must complete a pre-qualification form available on the website. Read more

Note: Previously, the fourth round of bidding was to be held in November. While the auction itself was postponed, the deadline for pre-qualification was unchanged.

Corporate Briefing on Iraq to be Held in Los Angeles

On Monday, May 9th, the Los Angeles Area U.S. Export Assistance Center, in conjunction with the Los Angeles Chamber of Commerce, hosted a half-day seminar discussing business opportunities for U.S. companies in Iraq. Read more

Iraq Oil and Gas Firms Delegation to Attend Offshore Technology Conference (OTC)

On May 2-5, 2011, the IIRTF and the Baghdad Commercial Service brought a delegation of oil and gas firms from Iraq to the Offshore Technology Conference (OTC). The Iraqi firms met U.S. companies interested in finding an Iraqi agent or representative, investing in the Iraqi oil and gas sector, selling oil and gas related technology products or services, or creating joint ventures and other types of business relationships.

Opportunities in Iraq’s Oil & Gas Industry & Networking Reception at OTC: On May 4, the IIRTF organized a Networking Event on Iraq’s Oil and Gas sector at OTC’s Reliant Arena.

USDA Publishes Country Report on Iraq’s Food Agricultural Import Regulations

On March 24, the U.S. Department of Agriculture’s Foreign Agricultural Service published the “Iraq Food Agricultural Import Regulations”, a report outlining regulatory requirements and import procedures for food and agricultural imports to Iraq. Read more.

Google.iq Localized Domain Added in Iraq

On March 31, Google added http://www.google.com.iq in Iraq, providing searches and results localized for users in Iraq. The new domain provides Arabic and Kurdish language searches. Read more.

Updated Legal Guide to Investing in Iraq Now Available

In February 2011, the U.S. Department of Commerce updated its Legal Guide to Investing in Iraq. Read more.

Iraqi International Buyer Program Delegations for 2011 Announced

Commerce plans to support several delegations of Iraqi buyers to U.S. trade shows. The linked schedule is subject to change, and please confirm with the listed points of contact that the Iraqi delegates remain confirmed for the relevant shows. You may also reach out to IraqINFO@mail.doc.gov for confirmation. Learn more about the International Buyer Program (IBP). Learn more about the Iraqi IBP delegations.

Corporate Briefing on Iraq Held in New York City

On Wednesday, March 23rd, the New York U.S. Export Assistance Center, in conjunction with JP Morgan, hosted a half-day seminar discussing business opportunities for U.S. companies in Iraq. Learn more.

PRT Wasit Held Catalog and Trade Show in March

The U.S. Embassy’s Provincial Reconstruction Team (PRT) in Wasit, Iraq invited U.S. companies to participate in the Wasit Trade Show from March 22 to 25, 2011. The trade show featured a "Made in USA" catalog expo for firms unable to send local representatives or sponsor a virtual booth. Learn more.

PRT Baghdad Hosts U.S. Catalog Show at Baghdad B2B Expo

From February 22-24, the U.S. Embassy’s Provincial Reconstruction Team (PRT) in Baghdad, Iraq, hosted a booth representing over 80 U.S. companies at the Baghdad Business to Business (B2B) Exposition at the University of Baghdad. The PRT received 152 qualified “Statements of Interest” from Iraqi companies over the three days.

Among the visitors to the PRT-Baghdad booth were several senior Iraqi officials from the Cabinet and Parliament and U.S. Embassy representatives. The organizers reported roughly 5,000 attendees at the Expo, including Chinese, French, Italian, German, Swiss, and UK companies.

Iraq Parliament Postpones Increase in Import Rates and Inspection Requirement

In mid-February, Iraq’s Parliament postponed the implementation of recently passed legislation that would significantly increase tariff rates and institute inspections on some imports. Originally scheduled for implementation on March 6, 2011, Iraqi Minister of Finance Rafi al-Issawi announced the postponement until further notice. The Iraq Reconstruction Tax remains in place on imported goods, but no further tariffs have been implemented at this time.

“Made in USA” Catalog Shows Held in December and January

On January 19th, the Provincial Reconstruction Team (PRT) Basra held its second “Made in America” catalogue fair at the Basra International Business Center. The fair saw 72 U.S.-based companies send catalogues, mostly from the construction and industrial equipment sectors. Firms representing the security, communications, electrical, medical, heavy equipment, laboratory equipment and supplies industries were also present. Some sixty Iraqi business representatives attended the fair, with an impressive amount of connections being made.

Given the success of both fairs, PRT Basra hopes to soon organize and hold an International Business Conference for the Basra region. Learn more about PRT Basra.

On December 15, 2010, the Provincial Reconstruction Team (PRT) Ninewa held a catalogue show for 132 U.S.-based companies. The show was hailed as the first of its kind for Mosul, Iraq. Companies specializing in agriculture, industry, and electrical/mechanical machinery were especially well-represented. The PRT will serve as a liaison between U.S. companies and Iraqi companies to maintain the momentum generated by this show. Learn more about PRT Ninewa.

Iraq Market Assessment Reports Available

The June 2010 Iraq Market Assessment Summary, by the USAID-Tijara project, provides an in-depth market analysis of Iraq’s business environment. The report provides detailed economic information with both industry and provincial specific analysis. This information is supported by extensive quantitative figures. The report is available on the Studies and Research page of the Small Business Development Centers (SBDCs) in Iraq website.

Individual Iraqi provincial market assessments are also available here.

Access to Finance by Small and Medium Enterprises (SMEs)

The July 2010 Access to Finance by SMEs in Iraq, by the USAID-Tijara project, details the weak access that small and medium business owners in Iraq have to various forms of financing. The report explains the reasons for the constraints, as well as the forms of financing business owners can access and would like to access. The report is available on the Studies and Research page of the SBDC in Iraq website here.

U.S. Chamber of Commerce Seeks American Investment in Iraq

In collaboration with the Iraq Investment and Reconstruction Task Force, the U.S. Chamber of Commerce organized an event on Tuesday, November 23rd, featuring Dr. Sami Al-Araji, chairman of the Iraqi National Investment Commission. Learn more

Corporate Briefing on Iraq A Success in Maryland

The Baltimore Export Assistance Center of the U.S. Department of Commerce hosted a seminar on Wednesday, October 27th titled “Corporate Briefing: Iraq is Open for Business”.

This corporate briefing was designed for business executives interested in exploring business opportunities in Iraq. U.S. and Iraqi government officials, as well as local company executives, will share unique insights, perspectives, and testimonials. In addition to a market overview, the briefing highlighted best prospect sectors and elements crucial to doing business in Iraq, such as how to navigate the company registration process, securing qualified Iraqi partners, identification of government projects and business opportunities, and more.

U.S. Under Secretary of Commerce Led Historic Trade Mission to Iraq

Under Secretary of Commerce for International Trade Francisco Sánchez arrived in Baghdad on October 4, launching the first trade mission to Iraq since the end of U.S. combat operations in August. Sánchez was accompanied by representatives from 14 U.S. companies looking to help Iraq rebuild its infrastructure and its economy.

For a list of participating companies and other details, view the press releases 1, 2, 3.

U.S. Chamber Hosts Trade Officials to Underscore Investment Confidence in Iraq

On September 30, the U.S. Chamber of Commerce’s Iraq Business Initiative hosted U.S. and Iraqi trade officials in Washington, DC, to educate the American business community on how to navigate matters surrounding Iraqi banking and finance. Government and trade experts sought to bring clarity and confidence to the burgeoning Iraqi market and to highlight the public and private sector resources available to U.S. companies as they look to do business in the region.

As part of the event, the Anbar PRT, Ellicott Dredge Enterprises, and Ariston Global Solutions, took part in an expert panel to discuss business operations on the ground and the unique hurdles still facing businesses in the Iraqi market. Company representatives highlighted how the wealth and infrastructure needs of the country make it a lucrative emerging market for business investment. Read the full 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&A

A 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.

BusinessWeek Highlights Iraq Investment

The April 22, 2010, issue of BusinessWeek 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 general website to learn more: http://www.osac.gov/.

For Iraq-specific information, visit http://baghdad.osac.gov/ or http://erbil.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