US, Iraq Inaugurate Trade & Finance JCC

The governments of the United States of America and the Republic of Iraq reaffirmed today at the inaugural meeting of the Trade and Finance Joint Coordination Committee in Baghdad their commitment under the Strategic Framework Agreement to increasing bilateral trade and U.S. investment in Iraq.

The goal of the Trade and Finance Joint Coordination Committee is to strengthen the Government of Iraq’s capacity to build a diversified and advanced economy that ensures Iraq’s integration into the international community and meets the needs of the Iraqi people.

The Committee seeks to nurture the discussion of effective private sector and investment strategies using the U.S.-Iraq Business Dialogue, and in coordination with future efforts under the U.S.-Iraq Trade and Investment Framework Agreement (TIFA). These mechanisms support the mutual goal of fostering a strategic partnership between the United States and Iraq by establishing stronger political, economic, and social ties between the two nations.

During the JCC, the Iraqi and U.S. co-chairs discussed current areas of cooperation, provided updates on their work, policies, and progress on priorities, and supported Iraqi and American business leaders through a private sector roundtable event that encouraged more trade and investment in Iraq.

The Joint Coordination Committee meetings were co-chaired by Deputy Prime Minister for Economic Reform Dr. Rowsch Shaways and Minister of Trade KhairAllah Babakir for Iraq, and Assistant U.S. Trade Representative Michael Delaney for the United States.

The United States and Iraq committed to convene the next Trade and Finance Joint Coordination Committee meeting in Washington, D.C. later this year to continue discussions on the increasing economic and commercial ties between the two countries.

(Source: Embassy of the United States)

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