(Português) Negócios – Empresas no Iraque
Foreign Companies in Iraq
Great business opportunities and investments, together with the improvement in the security situation has led to Iraq several foreign companies interested in working in the country’s reconstruction process. Below is a brief listing of the major countries, mindful of the positive business prospects, are already deployed in Iraq:
In july 2009, the Iraqi Prime Minister, Sr. Nouri al-Maliki, and the French Prime Minister , Sr. François Fillon , have signed a cooperation agreement to promote bilateral relations between the two countries. Accompanying Mr. Fillon, they were some of the greatest entrepreneurs of France, which pledged to expand its projects in Iraq. To date, the French stand out especially in the transportation sector and the construction of Iraqi airports. The prospects for strengthening the trade between the two countries include projects in the areas of nuclear energy safety and water supply. In addition, some French companies have expressed interest in opening commercial offices in Iraq soon.
Some British companies such as Shell and British Petroleum recently won bids for oil exploration on Iraqi soil. In addition, since 2004, many UK companies are involved in Iraq’s reconstruction projects, closed million-dollar contracts, such as, Siemens, HSBC, BBC, AMEC, Enterplan, Armor Group, Schneider Electric UK, Eaton Electric Europe, Aggreko, Foster Wheeler UK, Halcrow, Inclarity Plc, Petrel Resources (Anglo-Irish), among others, possessing including commercial office in Iraq.
The minister of Industry and the Minerals of the Republic of Iraq, Mr. Fawzi Hariri, met in July 2009, with several Japanese companies interested in investing in the reconstruction of the country. Among these companies, we highlight Mitseushi group (specializing in energy and chemical projects), Marubeni Group, Arabian Oil Company, Jabix Company (the oil industry), Toyota Sushaux (the energy sector), Atosho Group and Mitsui Company. Moreover, the Japan Petroleum Exploration Co. (Japex) is currently the highest rated (according to the Nikkei Journal) to develop a major oil field in eastern Iraq.
The German companies see great opportunities in Iraq, given that this was one of its main economic partners during the decades of 60 and 70. As evidence of this interest of the Germans on Iraq, it was installed a Commercial Office in Baghdad in February 2009 in order to increase the flow of trade with the Iraqis, helping thus to further improve the country’s conditions. The opening of that office took place during the visit to Iraq held by the Minister of Foreign Affairs of Germany, Mr. Frank-Walter Steinmeier. With regard to relations between Germany and Iraq, the foreign trade director of the Association of Chambers of Commerce and Industries of Germany, Mr Axel Nitschke, expects a double-digit growth in the value of the trade flow between the two countries.
Asserting itself as the second largest consumer market for oil in the world, as well as the fastest growing market, China has shown keen interest in Iraq, especially their oil fields. Three giant Chinese branch (Sinopec, China National Petroleum Corporation and China National Offshore Oil Corporation) compete to win bids in Iraq. Chinese endeavored to conquer the Iraqi market, selling the government machinery and electronic products to consumers. According to Global Trade Information Services (trade statistics company), that’s how China has managed to double the number of exports to Iraq in 2008, one of the major trading partners of the country.
Enjoying good relations with Iraq, Turkey has reached a commercial scale with the country of about 5 billion dollars in 2008, becoming one of the largest Iraqi trading partners. It is expected that this figure will triple, reaching approximately US $ 10 billion in 2009. Remember that in May 2008 Turkey hosted the 4th International Fair of Iraq, held in Gaziantep, which attracted around 700 companies from 20 countries.
One of the biggest trade partners of Iraq in Asia, South Korea took advantage of the moment to investimentos.Em July 2004, South Koreans have visited Iraq and in August of that year, a Kurdish delegation was to Korea prospecting business. Delivering what they said, Koreans are assuming an important role in Iraq’s reconstruction. Recently, in February 2009, they signed an agreement worth US $ 3.55 billion for the development of an oil field in southern Iraq.
Since 2004, many US companies have been working on the reconstruction of Iraq, and with the improvement in the security issue, the number of investments is increasing. In 2008, for example, the Center for International Private Enterprise (CIPE), based in Washington, organized a conference in Baghdad that included the participation of approximately 100 representatives coming from 15 of the 18 Provincial Investment Commissions in Iraq. Such an attitude demonstrated the great interest of American businesses to insert themselves more and more in the promising Iraqi market.
In the same year, the Iraqi government signed two multi-billion dollar contracts with several US companies such as Boeing, which closed a $ 6 billion contract with Iraqi Airways, and General Motors, which sealed a $ 3 billion deal with the Ministry of Electricity of Iraq. Among other US companies that have or have had projects in Iraq are AICI, American Manufacturers Export Group, CH2M Hill, Contrack International Inc., Fluor IntercontinentalInc., Odebrect-Austin, Parsons Delaware Inc., Perini Corporation, Washington International / Black & Veatch Joint Venture, among others.