Iraq is poised to be one of the world's leading emerging markets, driven by oil revenues and economic development across the board. Part of the government's five year development plan is to attract over $6 billion in foreign investment. The government also intends to privatise 250 state owned enterprises by 2020, including production in areas such as petrochemicals, steel and pharmaceuticals.
One area in particular which has seen significant economic growth over the past five years is the Kurdistan Region in Northern Iraq. It has attracted over $14 billion in investment for 259 projects, of which $4 billion is foreign investment. With the Kurdistan region producing some 700,000 barrels of oil a day, there is huge potential for associated and downstream industries such as petrochemicals and plastics.
In light of the market potential Iraq offers and the pro-active measures the government is taking to attract foreign investment, CT Group Travel in conjunction with UK Trade & Investment and The Middle East Association with the assistance of the Kurdistan Regional Government (KRG) have put together a new Kurdistan trade mission taking place on 23rd to 27th October 2011.
The trade mission has been purposely set to coincide with the 2011 Erbil International Fair, which is the largest general trade fair in Iraq covering various economic sectors. Supported by a large number of trade promotion agencies, chambers of commerce, associations, ministries and embassies, the fair will attract more than 850 exhibitors from over 25 countries from around the Middle East, Asia, the Americas and Europe. It is anticipated some 75,000 visitors will be attending the four day event.
Mark Kempster, UNIGLOBE CT Group Travel Managing Director commented, "We are delighted to be operating a trade mission to Kurdistan as it presents a great opportunity for UK companies to meet relevant and vetted Iraqi and Kurdish businesses. Attendees can have peace of mind the mission will be productive given our partner - The Middle East Association - has organised and led six very successful trade delegations to the Kurdistan region of Northern Iraq during the last four years, so they have first-hand knowledge of the Kurdistan market. In addition, not only will delegates enjoy greater savings by booking through us due to our specially negotiated group travel rates, but we also have our own office based at the Rotana Hotel offering support and assistance when needed, and attendees can also know all transportation has been specially arranged including security."