US Firms Line Up for Kurdistan

“I don’t really know what that means,” said Pennington when reminded of the British status. About the fact that Turkey is the biggest investor in Kurdistan, and Lebanon one of the most active in the business sector, he said: “We cannot compete with neighboring countries. But we have other advantages. We offer quality, design and technology.”

American companies in Kurdistan are mainly active in oil and gas, security and building. Pennington expects these activities to broaden in the future. “There is a lot of interest in the States for doing business here. But as it is Iraq, security plays a role and companies are cautious. Of course, here are fewer attacks than elsewhere in Iraq, but there still are threats.”

The reception was held at a moment of diplomatic tension between the US and Kurdistan, with Kurdish President Massoud Barzani cancelling a visit to the White House over the fact that Kurdistan’s two main political parties – the Kurdistan Democratic Party and Patriotic Union of Kurdistan — still feature on a terrorism blacklist from the days they resisted Saddam Hussein’s regime.

Kurdish politicians have shown frustration over the lack of support from Washington in their conflict with Baghdad over oil revenues, which has recently led to Baghdad withholding Kurdistan’s constitutional part of the national budget.

Although none of the diplomats at the reception wanted to comment on this hot issue, Qubad Talabani, the KRG Minister for Coordination and Follow Up, voiced some frustration. Until a year-and-a-half ago he was the KRG representative in Washington, where he set up the business council.

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