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April 26th 2017 Jour Fixe

Jour Fixe Termin speichern
26.04.2017 | 16:30
- 16:30

Third Networking meeting held by The German Liaison office for Industry and Commerce

On 26th of April 2017 ETTC hosted the regularly business meeting of the German Liaison Office for Industry and Commerce where governmental representatives and companies can exchange their experiences about recent economic and business development.

The German Liaison Office for Industry and Commerce is a service provider for German and Iraqi companies in many kinds of economic activities to encourage business relations between Germany and Kurdistan. The main task is to consult German and Iraqi companies with regard to a market entry and market development within Germany and Iraq. The range of services varies from qualitative research, the matchmaking of local business partners, and the organization of business delegations from Germany to Iraq and vice versa. In order to do so the office works closely with ministries and the German consulate to provide updated first-hand information.

Ms. Nisrin Khalil, Head of the German Liaison Office, opened the meeting by explaining the current economic situation in Kurdistan as well as the outlook and planned projects for 2017. It is very important to strengthen the private sector and to establish a trustful basis for foreign investment after the country has gone through crisis in the past three years. The aim is to provide first-hand information and support business activities between Germany and Kurdistan.

Mr. Marc Eichhorn, German Consul General, stated the importance of creating a trustful political environment for business and economic development. Governmental institutions have to lead by example through investing. The recent visit of Mr. Sigmar Gabriel, German Minister of Foreign Relations, is a proof that Germany trusts in further positive development of Kurdistan Region.

Mr. Falah Mustafa, Minister of Foreign Relations in KRG, outlined that Kurdistan forms a bridge between Iraq and the international community. In the last three years there was a mistrust of foreign companies to invest in Kurdistan because of its insecure situation. But progress in the fight against IS inducts that there is a reconstruction process in Kurdistan to be expected. In this period it will be important to diversify the economy to not be dependent on oil revenues any longer. Furthermore it is important to develop the Education and Health sector and generate infrastructure projects. KRG is working on the reform process of economic policy to provoke business development.

Finally, Mr. Soran, Vice President of the Chamber of Commerce and Industry in Erbil, outlined that the expected reconstruction process in Kurdistan will be a great opportunity for foreign investment. The government is planning to focus on three main sectors: agriculture, industry and tourism as these sectors are expected to develop very positively in the next years.

Governmental representatives as well as private companies emphasized the importance of business meetings organized by the German Liaison Office to develop international business relations and exchange information about economic progress and business related experience.