US-Kurdistan business delegation signals strengthened economic ties, diversified investments
Nov. 21, 2024
ERBIL (Kurdistan24) – The Kurdistan Regional Government's (KRG) Representative to the United States, Treefa Aziz, stated that the arrival of a senior delegation from the US-Kurdistan Business Council (USKBC) showcases heightened American interest in the Kurdistan Region.
The delegation, one of the largest since the council’s inception in 2012, underscores the evolving economic partnership between the two regions.
“This year’s delegation is larger than previous years, reflecting the growing interest of American businesses in Kurdistan,” Aziz said during an interview.
Over the past week, the group engaged in productive meetings in Erbil with senior KRG officials, the presidency office, and key business entities, including the chambers of commerce from Hewler (Erbil), Duhok, Sulaimani, and Halabja, alongside the Kurdistan Investment Board.
A Broader Investment Horizon
While historically centered on energy, particularly oil and gas, this year’s delegation expanded its scope to include defense, security, hospitality, food services, and other industries. "We’re encouraged by the interest of both long-standing companies and new entrants," Aziz noted.
The KRG, in alignment with its strategic goal of economic diversification, aims to reduce reliance on the energy sector.
Areas such as agriculture, banking, tourism, and healthcare are identified as priority sectors for future collaboration with American businesses.
“Kurdistan’s business-friendly regulations, open-market policies, and secure environment make it an attractive destination for foreign investment, particularly from the US,” Aziz emphasized.
She highlighted the positive role of supportive terms and contracts, distinguishing the Kurdistan Region from the rest of Iraq.
Oil Resumption and Regional Stability
One focal point of discussions revolved around the recent agreements between the KRG and the Iraqi government to resume oil exports, which had been halted for nearly 20 months.
According to Aziz, the resumption represents a significant victory for Kurdistan, Iraq, and global energy markets amid rising demand for oil and gas.
“American oil companies operating here for over two decades are keen to partner with the KRG to ensure a stable resumption of exports,” she stated.
US Commitment to Economic Growth
Aziz praised the collaborative efforts of the US government and the Consulate General in Erbil, led by Consul General Steve Bittner, in fostering bilateral economic relationships.
She described the partnership as a “360-degree relationship,” encompassing defense, security, and economic development.
Looking ahead, Aziz expressed optimism about working with the next US administration to strengthen economic ties further. “The focus on democracies and economic prosperity globally aligns with the Kurdistan Region’s aspirations.
We’re hopeful this partnership will continue to thrive,” she concluded.
The visit of the US delegation marks a pivotal step in advancing Kurdistan’s economic prospects, reinforcing its position as a stable and business-friendly hub within Iraq.
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