Prime Minister Barham Salih will hand over to former Prime Minister Nechirvan Barzani in a reshuffle of the Kurdistan Regional Government cabinet.

The move is part of the strategic alliance between the Kurdistan Democratic Party (KDP) and the Patriotic Union of Kurdistan (PUK) which are in a coalition government. Under the agreement, Dr Salih was sworn in as prime minister for a two-year term in late 2009.

Yesterday Mr Barzani accepted the nomination of his party, the KDP, for the post of prime minister. He was selected because of his experience inside and outside government which is needed at a challenging time in the Kurdistan Region and Iraq as well as the Middle East.

Mr Barzani will continue to focus on improving the living standards of the people of Kurdistan, strengthening government and independent instititutions and upholding international standards of human rights, freedom of expression and the rule of law.

He will continue the policy of developing Kurdistan’s oil and gas sector, implementing strategic projects, and promoting international trade and investment.

(Source: KRG)

Barham Salih [Saleh], the Prime Minister of Kurdistan’s Regional Government,  said he expects 12 per cent growth in the region’s economy next year.

Speaking at the opening ceremony of the Sulaimaniyah Trades Fair, Salih (pictured) praised the economic boom in the Kurdistan Region.

“This city [Sulaimaniyah] used to be like a military camp, a war zone and a terror zone which was deprived from any opportunities of development,” Salih said. “A bright future is ahead of us. The figures indicate a 12 per cent increase in the economic growth next year.”

Salih also said Kurdistan Region’s annual budget, which is deducted from the federal budget on a 17 percent basis, will increase by 30 percent from $10 billion USD (11,500 billion IQD) to $13 billion USD (15,000 billion IQD) “which will create a hot market and will bring more economic boom to Kurdistan”.

“Now, investment volume in Kurdistan Region has topped $16 billion USD (18,500 billion IQD). Only in Sulaimaniyah city, the investment volume is $6.4 billion USD (7,500 billion IQD),” Salih said.

Salih described the region as a gateway to the Iraqi market.

The Trades Fair in Sulaimaniyah brought together 270 foreign and local companies from 19 countries who exhibited their products in the fields including trade, industry, agriculture, food and automobiles.

(Source: AKnews)

Today [Monday] the Kurdistan Regional Government (KRG) Prime Minister Barham Salih, following the visit to Erbil of Iraqi Federal Finance Minister Rafie al-Issawi, welcomed the new efforts made by all parties in the federal government on Iraq’s planned oil and gas legislation.

“We have had excellent discussions with Finance Minister al-Issawi,” said Prime Minister Salih. “The formation of the new government in Baghdad under the premiership of Dr Maliki has clearly been an opportunity to address these important oil and gas issues. The planned legislation will address oil and gas revenue distribution policy and improved oil exports.”

Federal legislation

Prime Minister Salih confirmed that the KRG has received from the federal government proposed drafts of an Iraqi National Oil Company (INOC) law and a revenue sharing law from Baghdad for the KRG’s review.

On the progress made on the advancement of much needed federal legislation, Prime Minister Salih stated, “It is essential that all the inter-related laws of the INOC, Federal Hydrocarbon Law and the Ministry of Oil Restructuring Law are presented to the Parliament as a package to ensure consistency and to avoid further delays.”

On cooperation with Baghdad, Prime Minister Salih said, “The KRG believes that close cooperation on oil and gas strategy and export policies is vital to the security and well-being of the people of Iraq.”

He added, “The KRG Ministry of Natural Resources has accepted an invitation to support the advisory office of the federal Prime Minister and its international consultants on an integrated energy strategy for all of Iraq.”

KRG oil export and contractor payments

Oil exported from newly discovered fields in the Kurdistan Region is currently being marketed by the federal government’s State Oil Marketing Organisation (SOMO), with a percentage of the revenues to be allocated to the contractors via the KRG, according to the recent agreement between Erbil and Baghdad.

Prime Minister Salih stated, “The federal government had previously committed itself to the payment of KRG oil contractors. These contractors are now adding significant volumes to Iraq’s oil exports.”

“Under the management of the KRG Ministry of Natural Resources and the leadership of our Minister Dr Ashti Hawrami, we are now exporting via Turkey significantly more than 100,000 barrels of oil per day. That volume is increasing day by day,” Prime Minister Salih said.

He added, “The KRG has today presented its first oil export statement to the federal Finance Ministry for over five million barrels of oil delivered to SOMO since the commencement of export earlier this year. The KRG expects to receive from Baghdad its first payment for the Kurdistan Region contractors, as previously agreed with Prime Minister Maliki.”

Rashid Mohamed Rashid, Egypt’s Trade and Industry Minister, is to head a delegation of investors on a visit to Iraqi Kurdistan, to consider the possibility of establishing projects in industry, tourism, energy, housing and infrastructure in the Kurdistan provinces.

Egypt is encouraging the private sector to go to Iraqi Kurdistan as part of the support of Egypt to Iraq in general, and Kurdistan province in particular, to give a push to the economic development process, Rashid said.

The Prime Minister of Iraqi Kurdistan, Barham Salih [Saleh], said that Kurdistan would provide Egyptian businessmen with all possible facilities to work in the areas of industry, energy and infrastructure.

Saleh, who visited Egypt early this month, said that $100 billion was allocated by Kurdistan for government expenses in development projects.

Iraqis in northern Iraq welcome Egyptian businessmen and are viewing the Egyptian role as essential to the stability of Iraq.

Saleh said that he is looking forward to making use of the Egyptian experience in economic development as it is one of the leading experiences in the developing countries.

(Source: AKnews)

The Prime Minister of the Kurdistan Regional Government,  Barham Ahmed Salih [Barham Saleh], laid the cornerstone of the second largest shopping complex in Kurdistan.

The ceremony in the city of Sulaimaniyah city underlined the region’s growing economic power.

The complex will be built by the Kurdish investment group, Hiwa, owned by Ahmed Majidi, who opened last year the luxurious Majidi Mall shopping center in Erbil.

It will cover an area of 100,000 square meters and will cost US$150 million [175 billion Iraqi dinars].  The project is to be completed in 30 months.

“Now the investment volume in Kurdistan Region has gone beyond US$13.5 billion” said Salih, “and there are many other companies who would like to come this region to do business. This is an achievement for Kurdistan”

Many international companies are expected to open branches in the luxurious shopping mall.

In Erbil, the renowned Kuwaiti Hypermarket City Centre sells 450,000 products on 13,000 square meters of floorspace.

The parking lot of the center can accommodate 2,500 cars. The shopping mall will be the second branch of Erbil-based Majidi Mall.

During the opening ceremony, Salih urged the company to carry out similar projects in Dohuk and Kirkuk as well.

Majidi Mall’s second branch in Sulaimaniyah will become one the largest shopping complexes in Kurdistan Region and Iraq. Nazim Mutallib, supervisor of the project said: “50,000 sq m of the area will be dedicated for the three-story building”

Erbil’s Majidi Mall is built on 130,000 sq meters.

(Source: AKnews)

Prime Minister Barham Salih [Barham Saleh] and France’s Ambassador to Iraq today opened a French centre for research inside Erbil Citadel, the world’s oldest continuously inhabited settlement.

As well as launching the Iraq office of l’Institut Francais du Proche-Orient (IFPO – the French Institute for the Near East), Prime Minister Salih and Ambassador Boris Bouillon also launched the restoration of two historic houses in the citadel, which is estimated to be more than 7,000 years old.

In his speech, Prime Minister Salih said, “We are privileged to be here in the shadow of living history. This project affirms the relationship between France and the Kurdistan Regional Government [KRG] as part of Iraq, under the framework agreement signed this year by President Masoud Barzani.”

He added, “France has always been a beacon of hope and a symbol of liberty. Engagement with the French government and French companies is important for the Kurdistan Region and all Iraq. This kind of project brings out the best in our cultures. I wish you all success.”

Business is booming at Sulaimaniyah International Airport, with more than 2,000 flights since the beginning of 2010.

From January 2010 to the end of August, there were 2,381 flights to and from the airport, Dana Mohammad the media director of the airport, told AKnews.

A total of 107,581 passengers have flown through the airport during this period. Of this figure, 55,060 were inbound passengers, including 40,962 foreigners, according to Mohammed.

On average there were 10 flights daily through the airport in the first eight months of 2010.

In Nov. 2003, the current prime minister of Kurdistan, Barham Salih [Barham Saleh], laid the foundation stone of Sulaimaniyah International Airport and two years later in July 2005 the airport was inaugurated.

(Source: AKnews)

Jordan’s Minister for Industry and Trade, Amer al-Hadidi, led a business and investment delegation to the Kurdistan Region following the recent visit of President Masoud Barzani to Jordan.

The delegation met President Barzani, Kurdistan Regional Government (KRG) Prime Minister Barham Salih, and several ministers while participating in a joint business forum at Erbil Convention Centre.

Minister al-Hadidi conveyed greetings from King Abdullah and said that this visit was prompted by President Barzani’s July visit to Amman where he met King Abdullah and other senior officials.

Minister al-Hadidi said, “This trip comes as a welcome step towards an enhanced relationship. I brought 21 businessmen and women with me, to further explore economic relations and opportunities and other ways in which we can cooperate.”

He added, “We have been highly impressed by the developments we have seen in the Kurdistan Region, and I think the Region and Jordan have a lot in common and we can work together.” Minister al-Hadidi informed the President and Prime Minister that all arrangements were in place for the opening of a Jordanian consulate in the near future, and pledged his country’s support to include capacity-building and training in future cooperation.

President Barzani said, “The KRG will provide full support to the projects and initiatives proposed by the members of the delegation.” He added, “The people of the Kurdistan Region can benefit from the expertise and experience of Jordanian institutions and companies, and I believe these firms will find attractive opportunities in the Kurdistan Region as a base of operations for the Iraqi market.”

Prime Minister Salih said, “I am pleased to reiterate the support of the KRG for further developing relations with members of the international community and the Arab world, and I hope that the development of the Kurdistan Region provides an example for the rest of Iraq.”

Jordan’s minister and his counterpart, the KRG Minister of Trade and Industry Sinan Chalabi, co-chaired a meeting with KRG officials, including the Ministers for Planning, Agriculture and Water Resources, Health, Housing and Reconstruction, Municipalities and Tourism, the Chairman of the Investment Board, and the Head of the Department of Foreign Relations. The ministers and visiting delegates exchanged views on how best to move forward with projects. Minister Chalabi said, “This visit is very important to illustrate to foreign investors and firms the situation on the ground and the opportunities we have to offer. It has been a pleasure to meet with this dynamic group of business people.”

The delegation then participated in an open business forum with local firms and the Kurdistan Region Chambers of Commerce and Industry. The Head of the KRG Department of Foreign Relations Minister Falah Mustafa Bakir said, “The decision to move forward with the opening of the consulate is most welcome. This visit has proved the importance of the private sector and commercial cooperation in furthering political, economic, and cultural relations.” He added, “I believe there is tremendous scope for this partnership in the future, and I think Jordan’s officials, institutions, and companies are aware of the opportunities our Region has to offer.”