5-7-13 Trinity: When you increase trade you in turn increase revenue supplementary to the oil market, which is beneficial to both parties.
This diversity and foreign investment indicates continued progress for the GOI and insinuates a greater interest where the international community is concerned.
Iraq has been receiving a lot of attention lately from the global community despite some political instability, which in my opinion, is also being addressed through sincere negotiations (for a change).
Compromise seems to be the trend of late, which should benefit their economic standing and possibly open some doors for them down the road.
Read More Link On Right
Overall, I am very pleased with the progress of late, as it seems to be more than just the usual promises that fall short of actual progress.
There are several reports from Bloomberg and the New York times addressing this but here's a link to one from today I found interesting:
Today's Article - Biggest Ever British Trade Mission to Iraq. The Executive Chairman of the Iraq Britain Business Council (IBBC), Baroness Nicholson (pictured), has announced the biggest ever British trade mission to Iraq. In a massive push to boost UK business in Iraq the IBBC will take a 100 companies to Baghdad, Basrah and Erbil in mid-June.
A senior UK government minister will co-lead the delegation with Baroness Nicholson who said: “The British are coming! For a long time UK companies have lost out to competitors from countries in the Far East and even those closer to home like the French and the Italians.
“We have to fight back and Iraq-100 is a bold and courageous bid to put British firms in the vanguard of Iraq’s reconstruction.“ The first stop for the delegation will be Baghdad for a conference and a mini trade fair at the Al Rashid Hotel.
The delegation will then move on to Basrah and Erbil. In a speech at the IBBC’s Mansion House conference, UK Foreign Minister Alistair Burt praised the mission and said trade between Iraq and Britain has increased by 40% in the last year and is now £1 billion annually.
During the five day visit delegates will meet Iraqi government officials and senior politicians. In the coming weeks IBBC staff will fly to Iraq to meet with members of Iraq’s National Investment Commission (NIC) to finalise details of the visit including transport and security arrangements.
Baroness Nicholson said: “In trade terms this is the biggest event the IBBC has participated in and we are honoured to have the lead role.“ Article LINK
5-7-13 TBomb: The KRG passed their own version of oil and gas, IMO, as a back up in case M bails on them again. Hopefully that action will be the impetus for the centre to get'-er'-in-gear!
HCL Article - 05/07/2013 Oil and Energy Committee, Tuesday, about the possibility of merging drafts within the House as proposals for oil and gas law to draft one to take out a uniform law is apt to vote in Parliament.
MP Committee Member said Hasan gave in a press statement that "most of the points in the drafts of the political blocs agreed on controversial points do not exceed five points all in terms of contracting, production and financial amounts and purposes."
He gave it only requires political will for a solution then we will be able to find solutions to all the points of contention and a parliamentary Committee have not been able to agree on one point can put two paragraphs have a and b represent the destination alnazrin and go to the vote in Parliament, which will be decisive in determining which is the best."
"We were supposed to go to international jurists and the use of existing laws in the world and adopted as the law of oil and gas in the country taking into consideration the good of the economic reality in Iraq.
" The Parliamentary Committee on oil and energy has three drafts of the draft oil and gas law but all of these drafts are not acceptable to the political parties in Parliament.
Since approval of the Iraqi Constitution, such as the law on oil and gas highlighted outstanding issues between Baghdad and Erbil, the House has failed to past and present to find a consensus on a common formula for the oil and gas law.