The ABCC was honoured to host H E Dr Fuad Hussein, the Deputy Prime Minister and Minister of Foreign Affairs, Republic of Iraq, for a ministerial roundtable on the evening of 3 July 2023.
The meeting with one of Iraq’s most senior political figures attracted a capacity audience of investors, business executives, diplomats and media representatives.
The discussion took place within the presence of H E Mr Mohammad Jaafar al-Sadr, the Iraq Ambassador in London.
Dr Hussein delivered a comprehensive speech during which he ranged widely over Iraq’s recent history and highlighted the country’s latest progress in achieving security and economic development.
Addressing the priorities of the new government that assumed office in Baghdad in October 2022, the Minister spoke of plans to diversify the economy, encourage the private sector, attract investment, rebuild the infrastructure and provide job opportunities for Iraqis.
Investors increasingly realise that Iraq’s security situation has improved significantly, and all leading groups were working together in government to provide better services for the people, the Minister stressed.
The Deputy Prime Minister expressed his country’s hopes for closer relations with the UK and looked forward to holding fruitful discussions with British ministers during his visit.
The Rt Hon Baroness Symons of Vernham Dean, Chairman of the ABCC, praised Iraq for the remarkable advances it has made in recent years and commended Dr Hussein for his willingness to take questions from the audience.
The numerous questions covered such topics as Iraq’s oil industry, plans for developing gas, reforms to its banking and financial services sector and amending the country’s investment law.
Mr Bandar Reda, ABCC Secretary General & CEO, described Iraq as a remarkable country and indicated the chamber’s keenness to assist in building stronger business links between the UK and Iraq.