The Bilateral US-Arab Chamber of Commerce announced that it hosted a business-to-business networking luncheon this week for visiting private sector executives from Basrah, Iraq, who are seeking to establish US partnerships, identify suppliers, and strengthen trade relationships to help with Iraq’s rebuilding efforts.
The event is part of the Chamber’s CEO Insight Series, held in cooperation with the U.S. Consulate in Basrah, the U.S. Department of State, and the U.S Department of Commerce.
“There’s a big role to be played by small and medium-sized enterprises in Iraq in terms of supporting Iraq’s economy, forging international business partnerships, and pushing for more reforms,” said Mr. Naufel Al Hassan (pictured), Commercial Counselor for Iraq, who served as keynote speaker for the event. “Small and medium-sized enterprises are the key to sustaining Iraq’s economic growth, and Iraq needs committed partners who share in the vision for our future, and who recognize the country’s potential.”
According to Hassan, in 2012, trade in goods (not counting services or certain private-sector activities) between the U. S. and Iraq reached $21.3 billion. In the first quarter of 2013, trade volume between the U.S. and Iraq increased more than 23% compared to the first quarter of 2012.
(Source: Bilateral US-Arab Chamber of Commerce)