Head of UKTI to visit Iraq to strengthen business relations

BAGHDAD / IraqiNews.com: Sir Andrew Cahn, Chief Executive of government trade promotion body UK Trade & Investment (UKTI), visits Iraq this week to strengthen the business relationship between the two countries, according to a statement of the British embassy. “Sir Andrew will meet with UK companies working in Iraq and key political figures to learn more about commercial opportunities in the country and plans to improve the environment for overseas businesses,” said the statement received by IraqiNews.com news agency. “ I’m here because we recognise that there are considerable opportunities in Iraq – and not only in the oil and gas sector. British companies are already doing business here, and their numbers are increasing. The National Investment Commission’s work on the Investment Law has sent a positive signal for foreign companies, and I am keen to explore what other measures will further encourage trade and investment,” the statement quoted the British official as saying. “Sir Andrew’s visit follows that made in April by the Secretary of State for Business Lord Mandelson. In the same month over 600 delegates attended the Invest Iraq conference in the UK,” it added. UK companies engaged in Iraq operate in sectors including oil and gas, construction services, finance, legal and healthcare. UK trade with Iraq is on the increase. UK exports of services rose – from £273 million in 2007 to £433 million in 2008. UK exports of goods increased last year by 17% to £156 million. UK exports of goods have continued to rise in 2009- up 6% year on year to £94 million over the period January to July SH (S)/SR 1