Iraq’s recovering oil industry and new parliamentary government leaders were brought together in Washington DC USA January 31 2012 for an organized trade and economic forum. So, let is take a look at the variables that this event relates to as far as ISX (Iraq Stock Exchange) is concerned.
This event had one goal – to promote economic and trade relations between the United States and Iraq. These two countries are aiming to build the Iraqi market into full recovery at an increased rate faster than a snail. The two countries once had serious conflict but diplomatic and friendly relations are on the table for Iraq even with Iran relations heading into the toilet.
80 significant individuals from the United States government institutions and companies tackled the current status of the Iraqi market. For more than 50 individuals to be gathered in one agenda, Iraq is, without a doubt, gaining its world popularity. Some significant individuals who attended were Mr. Lionel Johnson (VP of American Chamber of Commerce), Mr. Hussein Alqrgoula (President American Business Council in Iraq), Mr. David Hamod (President of Chamber of Commerce), Mr. Jean Sullivan (Undersecretary of the U.S. Commerce) and, Ms. Soham Rak (former Chairman of the Business Dialogue Iraqi-US). There was a panel discussion which was moderated by the Undersecretary of the U.S. Commerce. The discussion pointed the visions and goals on Iraq for the year 2012 and beyond.
Dr. Jaber Habib, Washington’s Iraqi ambassador, greatly welcomed the efforts of the two countries in developing trade and economic relations with each other. In his speech, he showed appreciation to the US companies that supported the agenda. The forum aimed to organize a reliable commercial interest in the Iraqi capital. As a matter of fact, Commercial expert, Mr. Nofal Abualhun Hassan, in his message, urged the big US companies to invest on the Iraqi market. What made Mr. Nofal so confident in urging the business leaders? The oil industry of Iraq is slowly recovering and able to handle hardcore export operations.
Focus for companies to enter the Iraqi market was even exhorted when the proxy assistance of US Secretary of Commerce, Ms. Holly Vineyard, admired the efforts of promoting trade cooperation between Iraq and the United States. It was then supported by the Assistant Deputy US Secretary of State Affairs, Mr. Jean Droushr. Mr. Droushr gave his full support to the US government in building trade relations with the Iraqi market. The support displayed by the Assistant Deputy was a great turning point for business leaders who attended on the trade and economic forum. There were several questions raised from the audience but, Mr. Christopher Crowley and the commercial Attaché of Iraq answered the questions well.
Nobody could deny the exceptional contributions by some US departments and institutions for Iraq last 2011 but, will this continue to strengthen the economy of the country? Did the U.S. government acted wisely when they displayed a great role in helping the Iraq economy?
A group of Dinar vets is not totally convinced if this trade and economic forum will make a huge positive change to the current performance of the Iraqi market. What could be the reason? The dollar is going down and some US institutions are not giving their full attention to derive solutions. While, there are some foreign investors who believe on the importance of relations between Iraq and the United States. Well, no one is blind enough to see the current purchasing power of the US dollar in the world market but, nobody could simply ignore the fact that internal relations is a great requirement for the ISX to perform at its best.
Even if no deals were signed on January 31 2012 in Washington DC between Iraq and USA Government diplomats you can be sure that the Iraqi officials in attendence had a great taste of the American Dream right here on US soil.
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Written by DrDinar
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