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ustda BUSINESS BRIEFING spotlights COMMERCIAL opportunities in the iraqi oil AND gas sector

Iraqi Delegates in the United States on a USTDA-Funded Visit

Brief U.S. firms on Current Plans and Needs

 

HOUSTON, TEXAS – (February 8, 2006) Business opportunities associated with the development of Iraq’s oil and gas sector were the focus of briefings and meetings conducted today in conjunction with a 10-day visit by Iraqi officials in the United States as part of a U.S. Trade and Development Agency (USTDA) orientation visit.  Today’s event, which was co-sponsored by the Greater Houston Partnership, took place at the Intercontinental Houston Hotel in Houston, Texas, and attracted more than 175 participants. 

 

“The Iraqi government has made it clear that the modernization and development of Iraq’s oil and gas sector is a critical priority,” said USTDA Regional Director for the Middle East, North Africa and South Asia Carl B. Kress.  “USTDA is pleased to support the Ministry of Oil’s efforts by sponsoring this visit and the Iraq Oil Training Program, which is providing training for hundreds of Iraqi oil managers and engineers in the areas of modern technical, business management, and human resource development.” 

 

The USTDA-sponsored delegation is comprised of senior leaders from Iraq’s Ministries of Oil, Finance, and Planning; the Central Bank of Iraq; and the North and South Oil Companies.  Today’s event focused on investment opportunities, market planning, and the application of technology in Iraq’s oil and gas sector associated with Iraqi government plans and needs for development of the county’s oil and gas industry. 

 

“Throughout our visit, we have had meetings that have been both useful and cooperative.  In New York, our delegation met with a number of the largest U.S. commercial banks, and in Washington, D.C., we met with a number of U.S. government agencies.  All of the contacts that we have made have been helpful and encouraging.  We hope that those meetings, along with our meetings here in Houston, will form the foundation for long-term investment in Iraq’s oil sector,” stated a senior representative from the Iraqi Ministry of Oil, who spoke to the gathered group of business representatives. 

 

Mr. Robert Todor from the Iraq Reconstruction Management Office at the U.S. Embassy in Baghdad, who serves as the Senior Consultant to the Iraqi Minister of Oil, delivered a keynote address at today’s luncheon, emphasizing the opportunities that exist for U.S. firms to work in the oil and gas sector in Iraq.  “Iraq is open for business, with major opportunities for U.S. companies to partner in the rehabilitation and development of its oil and gas industry,” stated Todor.

 

In addition to today’s event, the Iraqi delegation has held meeting with U.S. and multilateral financial institutions, U.S. companies serving the oil and gas sector, and U.S. government agencies in New York City, Houston, and Washington, DC.

 

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries.  The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment.  USTDA’s strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development.  In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.

 

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