Child mortality in Iraq is at 30 deaths per 1,000, higher than it should be; but hugely below what it was. Healthcare also needs massive investment and there are ambitious plans for it.
In the Northern part of Iraq which has significant autonomy, we can see what the presence of security and the absence of a political log jam can do. Even as the world teeters on the brink of recession, it is enjoying an unprecedented boom, not least in trade with Turkey.
South Korea was Number 1 foreign investor in Iraq today with $12 billion of investment in 2011. Shanghai Electric has signed a $1 billion power plant deal in Wasit province. There are hugely ambitious plans for investment in new terminals, refineries and pipelines.
So these are all compelling reasons for Britain and British investment to be part of Iraq’s future. But, naturally, in addition, to the economic and industrial reasons, British forces helped liberate Iraq from Saddam and for years with much heroism and sacrifice helped Basrah survive the sectarian aftermath. They should be proud of what they achieved. The political and human impact of the Saddam regime is known though often overlooked. Hundreds of thousands died in his wars and in his campaigns against his own people. Less well known is the economic impact of his rule. GDP per head in 1989 was $2304. In the next ten years it fell to less than $600. Whole industries, agriculture and of course tourism all declined dramatically. Now at least there is the possibility to rebuild.
So, I am very honoured to be here at this IBBC conference to support growth in Iraq.
The question is how to turn the potential of Iraq into reality. Here there are also lessons that can be learnt from the round the world from nations that have emerged from conflict or from being failed states.
I have always respected Tony Blair and his information