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Iraq 'can develop into economic powerhouse'
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Gulf Daily News - [9/13/2007]
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Iraq is capable of becoming a super economic power both regionally and internationally, says Iraqi Ambassador to Bahrain Ghassan Muhsen. At a Press conference held at the Regency Inter-continental yesterday to discuss the upcoming Gulf Iraqi Expo (GIX) in Bahrain, Mr Muhsen said that there are investment opportunities in Iraq and that the security situation there is 75 per cent safer than it was in March last year.
The event will be held from November 1 to 3 at the Bahrain International Exhibition Centre.
"The reason for the event being re-scheduled is because of the security factor. We were going to hold the event last March but we decided to postpone it to allow the situation to become more stable in Iraq," Muhsen told the GDN.
He said that the event will definitely be held on its designated date from November 1 to 3 and there will be no postponements or delays.
"GIX is an highly important event which is taking place in Bahrain," Mr Muhsen said. "The exhibition will be for both Iraqis still in the country and those residing outside.
"It is also an important event for business people interested in investing in Iraq as the volume of trade has been modest since the invasion of Kuwait.
Also attending was one of the organisers of the event, I-Vision chairman, Murthada Kamal Aldin, and the marketing and logistics representative for the expo, CTM Management chairman and chief executive Saeed Rajab Z Omar.
"The idea of GIX is to promote business between Iraq and the GCC," Aldin said.
"There will be delegates attending the conference from around the world but the core of the event is to build business links between Iraq and the GCC states.
"Companies from Kuwait, UAE and Saudi Arabia are now investing in the north and south of Iraq in places like Kurdistan, Najaf or Diwaniya.
"The new investment law passed by the Iraqi parliament will help resettle the situation in Iraq and help share the new vision for the country. The aim of GIX is to help build bridges though the Gulf countries."
So far 13 countries have confirmed their participation, including all six GCC states as well as Iraq, Pakistan, India, the US, Egypt, Jordan and France.
The final list of exhibitors will be confirmed on October 1. However, there are already 180 directly registered companies who have completed their registration with the organiser, and 120 companies are currently negotiating space and their type of participation.
"GIX is expected to be a full networking event," Muhsen said.
"As well as the exhibition we have planned conferences to be held to discuss opportunities for investors in Iraq and the correct way in which to enter the Iraqi market.
"The confirmation of the attendance of the Iraq Deputy Prime Minister Barham Salih, as well as seven Iraqi ministers in sectors of planning, labour, trade, oil, housing, health and industry will aid the commencement of talks.
"Unido will also be present to arrange meetings between officials and businessmen alike.
"We have also asked Iraqi Prime Minister Nuri Al Maliki to attend GIX to boost relations with Bahrain, as Bahrain is an important nation in the GCC.
"We have been working to promote Iraq and the Iraqi Ministry of Trade has opted for Bahrain as they feel it is the right place to organise such an event."
The event is expected to be attended by 12,000 participants of which 1,250 are pre-qualified Iraqi businessmen.
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