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By Nick, February 10, 2013 12:33 pm

Germany’s Federal Minister of Transport, Building, and Urban Development, Peter Ramsauer, led a business delegation to Erbil to meet Kurdistan Regional Government officials and participate in the first Germany-Kurdistan Region economic forum.

The German delegation met Prime Minister Nechirvan Barzani, who thanked them for their willingness to be part of the Kurdistan Region’s development process. “We welcome German companies to the Kurdistan Region. They can play a crucial role in the process of developing our region and we assure the German companies of the Kurdistan Regional Government’s (KRG) full support and assistance,” he said.

Several KRG ministers and officials attended the meeting between Prime Minister Barzani and Minister Ramsauer. The KRG Department of Foreign Relations (DFR) organised and coordinated the economic forum and the German delegation’s two-day visit to the Kurdistan Region.

At the opening of the economic forum, the Minister of Housing and Reconstruction Kamaran Ahmed emphasized the importance of furthering relationships particularly in the fields of economy, trade and industry. He said, “This forum is a good opportunity for German businessmen to learn more about the business opportunities and business climate in the Kurdistan Region as well as to exchange views with Kurdish businessmen to build strong relations for future cooperation.”

Minister Ramsauer said, “The Kurdistan Region is in a developing stage. There are tremendous investment and development opportunities in the Kurdistan Region and German companies are ready to offer their expertise and knowledge and are willing to participate in the process of developing the Kurdistan Region”, he said.

Several ministers, high-ranking officials, 50 German companies and Kurdish business representatives participated in the economic forum. It was concluded by signing a Memorandum of Understanding (MOU) between the Council of Municipalities of Erbil Governorate and the German firm AJG Ingenieure GmbH.

(Source: KRG)

Iraq Business News

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By Nick, December 27, 2012 8:52 pm

Advertising Feature

Iraq Energy Institute (IEI) has just concluded its first Iraq Energy Forum (IEF) which was held in Al Rasheed hotel at the heart of Baghdad for the period 11-13 December 2012. The successful three-days major event was organized in cooperation with the Council of Representatives with attendance exceeding 220 delegates representing parliamentarians, diplomats, former ministers, politicians, the UN, industry experts, academics and executives from prominent international companies.

In spite of various logistical challenges, the 3-days forum achieved remarkable strides by providing a professional platform to debate pivotal topics to Iraq’s economy. This included three master classes, forum debates, presentations, research papers and “Iraq Energy Award”.

The three master classes included three simultaneous sessions: a) “Doing business in Iraq hosted by Ernst & Young”, b) IPP & EPC contracts & processes hosted by Maxwell Stamp, and c) a debate forum panel on oil & gas policies & development. The focus of the 2nd day of the forum was on oil & gas development with panels debating petroleum policies and various technical presentations on mega projects, water injection planning, risk assessment and commercial framework. The third day focused on power, infrastructure, renewable energy, sustainable development, and a workshop hosted by Schlumberger on capacity building, training and manpower planning.

H.E. Dr. Adnan Al Janabi, Chairman of the Oil and Energy Committee at parliament expressed his appreciation for the forum saying “ it is a unique platform for experts to reflect on the ongoing professional debate in Iraq on energy policies within the spirit of the constitution, which is really a critical topic to the Oil & Energy Committee as it complements the ongoing discussions inside the Committee on a batch of vitally important pieces of pending legislations such as the hydrocarbon and revenue sharing laws.”

On his part, professor Ali Al Sayigh, the Chairman of the IEI board stated that: “We aim to encourage candid and constructive dialogue on sensitive policy issues in Baghdad with the ultimate target being the vital interests of the Iraqi people and government.” Meanwhile, Luay J. Al Khateeb, the Chief Executive Officer and founder of the Institute has confirmed that “The Iraq Energy Forum initiative underlines our institute’s vision and the country’s firm commitment towards maintaining a sustainable business environment while focusing on long-term economic growth for all Iraqis.”

The United Nations has also actively contributed to the forum with the active presence of the UN Secretary-General Special Reprehensive to Iraq Mr. Martin Kobler who hailed the convening of the event saying: “…special attention to holding events in the heart of Baghdad…very good that Iraq Energy Forum is being held in Baghdad, following such high impact events, as the Arab League Summit and the Palestinian Detainees Conference.”

IEI forum has also witnessed the launch of the Institute’s annual energy award which was granted this year’s to Dr. Fadhil Chalabi (former acting Secretary General of OPEC in 1980s) for his distinguished contributions to the energy sector during the past 6 decades. The presentation of the award was delivered by the Chairman of the parliamentary Oil & Energy Committee Mr. Adnan Al Janabi.

IEI has institutionalized this forum which will be held annually in Iraq and the IEF organizing committee is due to announce next year’s event soon. Also, all IEF recommendations will be published soon and officially presented to the Govt. and Parliament of Iraq.

Iraq Business News

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By Nick, September 22, 2012 10:26 am

By John Lee.

A delegation from the Kurdistan Regional Government (KRG) took part in the 22nd Economic Forum held in Poland earlier this month.

The delegation included the KRG Minister of Planning, Dr Ali Sindi, the Chairman of the Kurdistan Board of Investment, Minister Herish Muharam, and the KRG representative to Poland, Mr Ziyad Raoof. Each participated on panels at the forum, speaking about the opportunities that Kurdistan has to offer, as well as the Region’s security and ongoing growth and development.

In a panel entitled ‘Prospects for Cooperation between the Region of Kurdistan and Europeans Regions,’ Minister Sindi, spoke about the ongoing cooperation between the Kurdistan Region and parts of Europe, specifically highlighting a recent cooperation agreement between the Malopolska Region of Poland and the Kurdistan Region.

Minister Sindi said he believes that relations between Malopolska and Kurdistan are likely to see rapid development and affirmed his hope to see other European regions also develop strong ties with Kurdistan.

Minister Muharam gave an overview of foreign investment in the Kurdistan Region, as well as a summary of strategic investment opportunities that currently exist in the panel ‘Eurasian Land Bridge: Real Opportunities and Prospects.’

Mr Ziyad Raoof presented a paper on behalf of the Head of the KRG Department of Foreign Relations, Minister Falah Mustafa, whose visit to Poland had to be postponed due to other commitments.

Minister Mustafa’s paper stated, “Our economy has shown steady growth year on year in spite of the global economic downturn…In order to maintain this continued growth, our government has actively pursued the building of relationships with the international community.”

His paper concluded, “There has never been a better time to come and see for yourself the opportunities that exist in the Region.”

In addition to their participation in the Economic Forum, the delegation held meetings with the Marshal of the Malopolska Region, Mr. Marek Sowa and his Deputy, as well as a number of prominent Polish corporations.

The 22nd Economic Forum was attended by over 2,500 guests from around the world, including representatives from the political, economic, and scientific communities, as well as many NGOs. This year’s forum was organized around the theme ‘New Visions for Hard Times: Europe and the World Confronting the Crisis’. The forum was opened with remarks from Polish President Bronsilaw Komorowski and Croatian President Ivo Jisipvić.

(Source: KRG)

Iraq Business News

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By Nick, September 21, 2012 11:37 am

Baghdad will host Iraq’s most anticipated energy event thus far on the 12/12/2012. Founded and hosted by Iraq Energy Institute (IEI), the Iraq Energy Forum (IEF) represents a unique gathering, distinguished by its exclusive line-up of senior Iraqi government officials and decisions makers, ambassadors, IOCs, industry leaders and cross-sector world renowned industry experts.

The event will be more than a conference and a networking opportunity, it will be a medium to influence and shape the Iraqi energy industry in the next phase of its evolution, as stakeholders will have the opportunity to directly engage with regulators, policy and decision makers, exchange views, as well as first hand and early insight into the investment and development plans and project announcements.

The Forum will duly commence on the 12th of December, with day one focusing on upstream-downstream challenges and opportunities, in addition to capacity building within Iraq. Day two of the event will focus power generation needs and projects, infrastructure challenges and investments opportunities, in addition to sustainability and resource-diversification.

Day one of the Iraq Energy Forum will be preceded by three simultaneous full day master-classes on the 11th of December. The master-classes will follow the theme of the Forum, with Master-Class 1 on Petroleum Development Policies & Field Operations which will cover all aspects of upstream sector in Iraq. Master-Class 2 on IPP & EPC Contracts will address IPP programmes, and tendering & contracting processes, conducive to preparing successful bids. Master-Class 3 will revolve around capacity building and improved on-going training and development.

The Master-Classes will provide participants with unparalleled insight into technical and procedural aspects of the industry in Iraq that would facilitate commercial success in a growing and evolving energy sector, that holding generous untapped potential. Mr Luay al-Khatteeb, Founder & CEO of Iraq Energy Institute has said this year on Bloomberg: “projected global demand will need two more of Saudi Arabia by 2035, and the only candidate right now that we can think of to fill the gap, and boost security of energy supply prospects is Iraq”.

Iraq’s oil production reached a record high of over 3 mbpd in 2012 and the government is committed to ambitious plans of at least tripling production before the decade’s end. Further, vast amount of gas reserves in Iraq remain underutilise, and Iraq’s urgent power needs are well publicised.

Infrastructure de-bottlenecking, development and rehabilitation projects are paramount in dealing with the challenges ahead, therefore ample opportunities to capitalise and get involved in the next wave of investments will be on offer and should not to be missed. According to Prof. Ali Al Sayigh, Director General of the World Renewable Energy Congress and Chairman of the Board of Iraq Energy Institute: “ the energy industry in Iraq has made great strides so far, but it is time to introduce sustainability as building block for future developments and plans, since the Iraqi energy sector is not only vital to the Iraqi economy, but global energy markets at large”.

The Iraq Energy Forum has strong state support, with several confirmed ministers and heads of the decisions making committees in Iraq, which will provide further insight into government policies and directions, helping investors plan their strategies and investments for Iraq with optimal efficiency. The Forum benefits from enviable Ambassadorial participation, and the event will also close with an Ambassadorial Reception, which provides further networking opportunities.

Iraq Business News

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By Nick, May 12, 2012 10:07 am

Kurdistan’s chambers of commerce held the first Romanian-Kurdish economic forum in Erbil this week, hosting many Romanian and Kurdish companies.

The Romanian businesses were part of a trade delegation that, accompanied by Romania’s Ambassador to Iraq, Jacob Prada, is visiting all three governorates of the Kurdistan Region this week.

Dara Jalil Khayat, the Chairman of the Federation of Kurdistan Chambers of Commerce and Industry, welcomed Ambassador Prada and the delegation and wished them an enjoyable and productive trip, saying he hoped this would be the first of many more visits by both sides.

Mr Khayat highlighted the active role that many Romanian businesses already have in Kurdistan but emphasised that there are many more opportunities for engagement. “We at the Chamber of Commerce and Industry are eager to work closely with our counterparts at the Romanian Embassy in Baghdad and those at the Consular Office here in Erbil in order to help support and facilitate your efforts,” he said.

Ambassador Prada thanked the Kurdistan Regional Government (KRG) for its efforts not only in helping to organise the forum and visit, but also in helping to make it easy for Romanian companies and businessmen to work in Kurdistan.

He said, “The good relationship between Romania and Iraq, and Romania and the Kurdistan Region, has been there for a long time. What the Romanian government has been able to do today with the assistance of the KRG is to enable Romanian and Kurdish businessmen to enjoy increased cooperation.”

Iraq Business News

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By Nick, April 5, 2012 3:52 am

Dinar Daddy’s Archives

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By Nick, March 2, 2012 9:47 pm

Dinar Daddy’s Archives

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By Nick, February 6, 2012 6:36 pm

To promote trade and economic relations between Iraq and the United States the Iraqi Commercial Attaché in Washington DC, organized an important economic forum on Iraq on January 31, 2012 in the presence of more than 80 government and representatives… View full post on Iraq Updates – Latest News

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By Nick, January 31, 2012 4:19 am

Posted Monday, 07:03 PM 4:44 PM [Baxter1243] Well…the 72 hour window passed hours ago……the Algorithms…the bank screens…the Lockdowns….the 11+ dollar rate….its got to be close..theres nothing left… 4:45 PM [soonerfan62] Baxter1243 Baxter1243 Additional 48 started yesterday and if you’re looking for $11 forget it 4:46 PM [imagine] soonerfan62 so they have another 24 hours and [...] View full post on Dinar Daddy’s Tidbits

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By Nick, January 31, 2012 3:18 am

Posted Monday, 07:38 PM [footforward] UNDERSTAND THAT MY SILENCE SHOULD BE GOLDEN. THERE HASNT BEEN MUCH TO SAY, HENCE WHY I HAVENT BEEN AROUND MUCH. UNDERSTAND THAT ALL THE NEWS I HAVE IS GOOD. ALL OF IT. EVERY LAST BIT OF IT!!! HANG IN THERE AND WHATEVER YOU DO, DO NOT SELL YOUR DINAR! View full post on Dinar Daddy’s Tidbits