IBBC hosts largest ever delegation of Iraqi business people at London Business Forum
In a wide-ranging business event over 230 Iraqi business-people and 70 British gathered to meet and discuss Business relations, trade, investment and engagement with the UK’s Business community.
Delegates from all regions of Iraq through the chambers of commerce gathered to hear from representatives of trade associations, IBBC members, chambers of commerce and investors.
Baroness Nicholson, President of IBBC, welcomed the new Iraqi Ambassador, H.E. Mr Mohammad Jaafar Al- Sadr, who gave a keynote address at the conference. The Ambassador speech was followed by an address of H.E Mr Karwan Jamal, High Representative of the Kurdistan Regional Government.
Of note were the panel from Iraqi business people, headed by Dr Dara Jalel Al-Khayat, Chairman of Federation of Chambers of Commerce and Industry of Kurdistan, and representatives from Babil, Baghdad and Basra Chambers, as well as the chair of the Importers and exporters association in Kurdistan.
From the British side, a panel consisting of Rod Dowler of the Industry Forum, Alan Rides MD of Hounslow Chamber of Commerce, Brigadier James Ellery of Turnkey LLC and Mr Peter Hunt of HWH Associates and Raed Hanna, MD of MFL Finance, all spoke positively of their experiences in Iraq, but tempered with advice on improvements to the Iraqi experience. Finally, Jessica Hao of Crossboundary associates spoke of opportunities to invest in start-ups and SMEs in Iraq with support of USAID.
Key messages included the enthusiasm with which the Iraqis are keen for British Investment into numerous sectors in Iraq, especially Agriculture, Petro Chemicals, Food Processing, Housing and Consumer goods.
The idea of joint ventures with British know how and expertise and Iraqi partners are also suggested as ways to overcome perceptions of risk in the country. However, many delegates all supported the notion that despite the present legitimate protests in many parts of the country overall peace and stability has returned to Iraq following the defeat of DAESH and that the business environment is getting more favourable. Nevertheless, much needs to be done to free up and boost the private sector, an essential step to meet the demands for real jobs and futures of the ever-increasing young Iraqi population.
Following the formal event, the delegates networked extensively with each other and the British contacts in the room.
The group move onto Northampton University, Ardley high tech waste centre, and High-tech leather innovation centre in Northampton University before returning to Iraq.
For more information on the contacts for exports and import opportunities, please contact [email protected]
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