Iraqi Prime Minister Nouri Al-Maliki expressed his support for stronger economic relations between the U.S. and Iraq on Friday at the U.S. Chamber of Commerce's Iraq Business Initiative conference.
Through a translator, Maliki said he supported a firm economic alliance with the U.S. and described Iraq's economic turn around. He said that Iraq has become a promising market and has much to offer in terms of infrastructure and business. He also commented on Iraq's initiative to boost its economy and move it from a centralized system to an open market.
Said Thomas J. Donohue, President and CEO of the U.S. Chamber of Commerce, "The U.S. Chamber is prepared to play a special role in forging closer commercial ties between the United States and Iraq."
Donohue added that "Iraq must also do its part to attract foreign investment. It must root out corruption, increase transparency, strengthen the rule of law and remove barriers to doing business."
Maliki explained how Iraq's increased security level has benefited the country's economy, stating that citizens have seen their average wages increase dramatically from 700 dollars per year to 4,000 dollars per year. He also said that the nation's inflation rate has lowered drastically as has its unemployment rate, which has decreased roughly 35% in recent years.
"There is no question that U.S. companies have many opportunities to help revive the Iraqi economy [and] beat down 25 years of brutal dictatorship with a strong economy," said Donohue.
The U.S. Chamber of Commerce will be hosting the U.S.-Iraq Business and Investment Summit on October 20th-21st, which it will underline economic improvements that have been made in Iraq as well as help the country gain even more U.S. investment support.
Maliki Confident That U.S.-Iraq Economic Relations Will Prosper
Iraqi Prime Minister Nouri Al-Maliki expressed his support for stronger economic relations between the U.S. and Iraq on Friday at the U.S. Chamber of Commerce's Iraq Business Initiative conference.
Through a translator, Maliki said he supported a firm economic alliance with the U.S. and described Iraq's economic turn around. He said that Iraq has become a promising market and has much to offer in terms of infrastructure and business. He also commented on Iraq's initiative to boost its economy and move it from a centralized system to an open market.
Said Thomas J. Donohue, President and CEO of the U.S. Chamber of Commerce, "The U.S. Chamber is prepared to play a special role in forging closer commercial ties between the United States and Iraq."
Donohue added that "Iraq must also do its part to attract foreign investment. It must root out corruption, increase transparency, strengthen the rule of law and remove barriers to doing business."
Maliki explained how Iraq's increased security level has benefited the country's economy, stating that citizens have seen their average wages increase dramatically from 700 dollars per year to 4,000 dollars per year. He also said that the nation's inflation rate has lowered drastically as has its unemployment rate, which has decreased roughly 35% in recent years.
"There is no question that U.S. companies have many opportunities to help revive the Iraqi economy [and] beat down 25 years of brutal dictatorship with a strong economy," said Donohue.
The U.S. Chamber of Commerce will be hosting the U.S.-Iraq Business and Investment Summit on October 20th-21st, which it will underline economic improvements that have been made in Iraq as well as help the country gain even more U.S. investment support.