Erbil, Kurdistan Region, Iraq - (KRG.org) – Today at the Erbil Chamber of Commerce and Industry, overlooking the city’s historic citadel, business-people from the US and Kurdistan gathered at a conference aimed at boosting American ‎trade and investment in the Kurdistan Region.

The conference on 'Developing Franchise Opportunities in Iraq’ was attended by a franchise delegation from the United States which is visiting Kurdistan to pursue opportunities and possibly work in the region. The conference was also attended by the Head of the Department of Foreign Relations, Minister Falah Mustafa, US Consul General, Joseph Pennington, the President of the Erbil Chamber of Commerce and Industry, Dara Jalil Khayat, and a number of Kurdish businessmen.

Mr Khayat opened the event by welcoming the delegation to the city. Mr Khayat said that ‘in the 1950s, Iraq was a very good market for the US’ but that this slowed down in the 1960s and 70s. Nevertheless, he hoped to renew this relationship, and looked forward to a long and successful partnership between American and Kurdish businesses.

Speaking on behalf of the Kurdistan Regional Government, Minister Mustafa outlined the KRG’s long-term vision for the Region. The Minister highlighted the safety and stability that Kurdistan enjoys; the investment-friendly laws and assured those present that US businesses have the full backing of the KRG to begin work in the region.

Minister Mustafa described the Kurdistan Region as the gateway to the rest of Iraq for foreign businesses looking to invest in the country as a whole. He said there are now 2,700 foreign companies registered in the Kurdistan Region, 14 KRG representatives abroad and 31 diplomatic representatives in Erbil, which is an incredible achievement in such a short space of time given the ‘distortions of the previous regime’ in squandering the country’s natural resources. This achievement has come about, according to the Minister, ‘through diplomacy and interaction with the wider communities’.

The Head of the DFR also spoke about the vision and commitment of the leadership to provide a better future for the people of Kurdistan. He said that failure is not an option. Addressing the difficulties facing Iraq, Minister Mustafa said the KRG is committed to progress and is a force for moderation. The Minister said that Kurdistan is part of the solution in Iraq and is committed to peace, dialogue and the constitution‎.

Speaking at an earlier session in the day, the US Consul also highlighted the importance of strengthening relations between the US and Kurdistan, particularly in areas of economic trade and cooperation.‎ The consulate is supportive of trade visits and conferences and encouraged the companies to participate, saying that it was pleased that they had come to Baghdad and Erbil.

The US companies that are part of the Franchise Delegation are Radio Shack, Nestle Toll House, Curves for Women, Claremont and Broad Walk Burger and Fries. They are scheduled to hold a number of meetings both individually and as a group to better grasp the sense of the opportunities that exist in the region.