U.S.-Iraqi chamber of commerce and industry to organize investment forum in Amman

Jordan news Agency, July 13 – The U.S.- Iraqi Chamber of Commerce and Industry intend to organize an Iraqi investment forum in Amman next month, Chairman of the chamber Fares al-Mesleh disclosed Wednesday.

He said the forum aimed to explain Iraq’s future investment policy including the new market mechanism that will be adopted by the Iraqi government in light of the new investment law approved recently by the Iraqi parliament.

He added contacts were underway to ensure the largest participation of regional and world business community. Mesleh, who didn’t give the exact date of the forum said the Iraqi government intends to issue a call to the world community to back economic transformation in the country that will further strengthened through updated laws and legislation.

The forum, he said, was especially important as it would offer a good opportunity to put forward Iraq’s basic economic needs and give a first hand look to participants on investment opportunities and economic activities in the country. The forum will be held at this time as part of the chamber’s plan to explain the advantages of Iraq Reconstruction Exhibition 2006, that will be organized by the chamber in Sulaymaniah in northern Iraq in mid of next October, Mesleh said.

He added Jordan was chosen as venue for the forum because of it favorable open economic policy drafted by His Majesty King Abdullah and encouraged Arab and foreign investors to come to Jordan and benefit from its inviting investment climate. The Iraqis are willing to benefit from Jordan’s leading economic experiment to help revive their weary economy, Mesleh said.

Jordan and Iraq agreed last month to swap Jordan’s US$1.3 billion on Iraq with contracts and projects equaling the amount of debts. The projects can be carried out in the frame of Iraq’s reconstruction plans.