Iraqi-US Business Council Opens in Basra

The chairman of the Iraqi National Investment Commission (NIC) has announced the official launch of the Iraqi-U.S. Business Council in Baghdad, which will be an extension of the American Chamber of Commerce in Iraq.

The council will deal with the Iraqi private sector to encourage economic development, particularly in small- and medium-sized industries.

NIC Chairman Dr. Sami al-Araji met with U.S. Deputy Secretary of State Thomas Nides and his accompanying delegation to complete the meeting in Washington.

The Council will deal with the NIC to attract investors to enter different Iraqi economic fields.

Araji called for the support of U.S. financial institutions through granting facilities to the investors, particularly in the fields of housing, electricity and infrastructure.

"The United States is a best friend and partner for Iraq," Nides stated, calling on U.S. companies to grasp the chances in Iraq and cooperate with both  governmental and private sectors.

The head of the Iraqi-U.S. Business Council, Bruce Larsen, welcomed all contributions to the council.

The meeting was attended by U.S. Ambassador James Jeffrey, members of the embassy, and Iraqi-U.S. council members.

(Sources: Aswat al-Iraq, National Investment Commission)

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