US-Iraq Business Dialogue Hosts Ambassador Faily for Discussion of Business Opportunities in Iraq
Ambassador Faily gave an overview of the current political and security situation in Iraq during the US-Iraq Business Dialogue event.
The US-Iraq Business Dialogue (USIBD) welcomed Ambassador Faily for an engaging discussion on September 19, 2013 in Washington, DC.
The US-Iraq Business Dialogue, a forum formed through the bilateral United States-Iraq Trade and Investment Framework Agreement (TIFA), was first negotiated in 2005. It is a bilateral business dialogue that facilitates private sector business growth in Iraq and works towards strengthening trade and investment ties between the two countries.
During the discussion, Ambassador Faily spoke about the current political and security situation in Iraq. He acknowledged the challenges of foreign investors doing business in the country, but highlighted some of the steps the Iraqi government is taking to encourage public sector growth and foreign investment — including the government’s latest plans to diversify the economy as part of the newly released National Development Plan for 2013-2017. Ambassador Faily then answered questions about current challenges to doing business in Iraq and listened to participants’ suggestions for improving the business climate.
Among the attendees were senior business leaders from Mayer Brown LLP, Boeing, JP Morgan, Exxon Mobil, Citibank; and representatives from Department of State Department, Department of Commerce and US Chamber of Commerce. Joining Ambassador Faily at the event was Mr. Naufel Al-Hasan, Commercial Attaché at the Embassy of the Republic of Iraq.
