Ashti Hawrami Addresses UK Businesses and Politicians

Our fast developing oil and gas industry is leading the way in creating private-sector business opportunities not just in Kurdistan but across Iraq.

Some 40 foreign companies from 17 different countries are committed to investing some $10 billion in the energy sector in the Kurdistan Region.

(I would urge British business to look in particular at the field of oil and gas services in Kurdistan.)

The Kurdistan Region has also attracted more than $12bn-worth of non-oil investments from local and foreign investors over the last three-and-a-half years, mainly in housing, agriculture and banking. This is largely thanks to a liberal foreign investment law ratified in 2006, with incentives for foreign investors including ownership of land, a 10-year tax break and the repatriation of profits.

Yet, these economic opportunities are being exploited less by Britain, who actually liberated the country from brutal dictatorship, than by its European competitors such as France and Germany, as well as other states in the Middle and Far East.

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