The Erbil International Airport was designed by British architects, Scotts Wilson. They are now working on a master-plan for Suleymaniya airport.
The most striking car showroom in Erbil displays Land Rover, Range Rover and now the latest Jaguar models: classic British designs, which represent the best of British tradition, innovation and engineering.
British companies such as Jones Lang Lasalle and BTW Shiells are providing the property management advice that are making Erbil' s shopping malls the envy of the rest of Iraq.
Parsons Brinkerhoff is working on a master-plan for electricity supply and generation.
Heritage, Gulf Keystone and Sterling have made significant investments in hydrocarbons. The only two global banks in Iraqi Kurdistan – HSBC and Standard Chartered – are both British-based and are both increasing their activity.
All of these are investments of strategic importance to both Iraqi Kurdistan and Iraq as a whole. But there is still much more to be done to develop our bilateral trade.
For our part, Britain will work harder at encouraging UK companies to invest in Iraqi Kurdistan. For your part, you must continue to improve the investment environment. President Barzani has spoken of the need to tackle corruption. That is vital in order to attract companies.
You will need a stronger legislative framework to protect businesses; transparent processes to resolve contractual disputes in the courts; a banking sector to provide the kind of services offered by HSBC and Standard Chartered; and it is also important that you press the Government of Iraq to pass the Hydrocarbons and Revenue Sharing Laws.
These improvements will allow British companies to access insurance guarantees, attract finance, meet legal obligations under UK law and permit exports in the hydrocarbons sector. Generally, it will allow International Oil Companies to invest across the whole of Iraq.
It is self-evident that relations with Baghdad are crucial if you are to achieve all these aims. I believe you can engage more with the central government, and – as a result – gain more from that relationship. The quality of democracy in Baghdad matters to you; so does the building of institutions; and establishing a dialogue on outstanding problems.
I hope you will continue to see Britain as an ally. We are ready to help in this process of democratic and economic development. During difficult times, we were a friend of Kurdistan. During more peaceful times – as you move forward into a more prosperous future – we remain a committed friend.
And we can help in practical ways, too. After the tragic Soma Hotel fire in Suleymaniya in which 33 people died, the KRG asked for international assistance. Our Chief Fire and Rescue Adviser was able to help. He toured the region and wrote a detailed report setting out his recommendations for improvement.
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