Kur­dish cap­i­tal hosts 10th Er­bil In­ter­na­tional Fair

The Kurdish Globe - - FRONT PAGE -

Mr. Ab­dulla Ahmed Ab­dul-Rahim, su­per­vi­sor of Er­bil In­ter­na­tional Ex­hi­bi­tion told krg.org, “Host­ing the Fair amid the cur­rent sit­u­a­tion, es­pe­cially after the ini­tial agree­ment be­tween Er­bil and Bagh­dad, shows that Kur­dis­tan can pre­serve its eco­nomic po­si­tion and suc­cess­fully man­age crises.”

After eas­ing almost a year of fi­nan­cial cri­sis and ter­ror­ism threat, the Kur­dis­tan Re­gion last week hosted the 10th Er­bil In­ter­na­tional Fair at­tended by 250 com­pa­nies from 16 coun­tries. In the wake of the ini­tial agree­ment be­tween Er­bil and Bagh­dad to re­solve oil ex­port and bud­getary is­sues, and of se­cu­rity ad­vances to halt the ISIS threat, mar­ket con­fi­dence be­gins to re­gain and business con­tin­ues to progress.

Kur­dis­tan Re­gional Gov­ern­ment Min­is­ter of Trade and In­dus­try, Sa­mal Sar­dar, high­lighted the im­por­tance of host­ing the fair amid cur­rent cir­cum­stances. He said, “The par­tic­i­pa­tion of com­pa­nies from for­eign coun­tries might not be at the level of pre­vi­ous years, but host­ing the Fair shows that business ac­tiv­i­ties have not stopped and the Kur­dis­tan Re­gion's se­cu­rity sit­u­a­tion is very sta­ble for business.” Min­is­ter Sa­mal Sar­dar stressed that the Re­gion's econ­omy con­tin­ues to im­prove.

The break­through agree­ment be­tween Er­bil and Bagh­dad on re­solv­ing out­stand­ing is­sues has helped to re­sume and re­vive business ac­tiv­i­ties in the Re­gion.

Mr. Ab­dulla Ahmed Ab­dul-Rahim, su­per­vi­sor of Er­bil In­ter­na­tional Ex­hi­bi­tion told krg. org, “Host­ing the Fair amid the cur­rent sit­u­a­tion, es­pe­cial- ly after the ini­tial agree­ment be­tween Er­bil and Bagh­dad, shows that Kur­dis­tan can pre­serve its eco­nomic po­si­tion and suc­cess­fully man­age crises.”

He added, “Er­bil In­ter­na­tional Fair man­aged to build trust dur­ing the last ten years and the KRG has played a key role in de­vel­op­ing the venue. The fair­ground has so far hosted more than 60 exhibitions in var­i­ous sec­tors and has greatly ben­e­fited the peo­ple of Kur­dis­tan.”

Rep­re­sen­ta­tives of the pri­vate sec­tor com­pa­nies said the eco­nomic cri­sis and ter­ror­ist threats ad­versely af­fected their plans and caused sus­pen­sion of some planed ac­tiv­i­ties. How­ever, the sit­u­a­tion did not last long, as demon­strated by par­tic­i­pa­tion of in­ter­na­tional com­pa­nies in var­i­ous exhibitions.

Mr. Saman Brifkani, Su­per­vi­sor of Magic Art Ad­ver­tis­ing Agency said, “De­spite some con­cerns by some com­pa­nies there have been var­i­ous exhibitions by big brands and com­pa­nies in the Kur­dis­tan Re­gion in­clud­ing Land Rover, Range Rover and BMW in which they show­cased their lat­est prod­ucts. In ad­di­tion, var­i­ous French, Amer­i­can and Bri­tish fran­chises in Er­bil's mar­kets and malls have re­cently launched.”

“The break­through agree­ment be­tween Er­bil and Bagh­dad will strengthen trust and support in­creas­ing business ac­tiv­i­ties,” he added.

On the side­lines at the Fair the Czech Repub­lic Gen­eral Con­sul to Er­bil, Jaroslav Reif, and a del­e­ga­tion from his coun­try's min­istry of trade and in­dus­try dis­cussed their ac­tiv­i­ties in the Re­gion.

The Czech Repub­lic Con­sul told krg.org, “Czech com­pa­nies to­gether with Czech banks im­ple­mented ma­jor projects in the Kur­dis­tan Re­gion es­pe­cially in the elec­tric­ity sec­tor. We want to in­tro­duce the Kur­dis­tan Re­gion's in­vest­ment mar­ket to the Czech Repub­lic and in­vite Euro­pean in­vestors to support in­vest­ment ac­tiv­i­ties in the Re­gion.”

The Czech Repub­lic is among the ac­tive in­vestors in the Kur­dis­tan Re­gion's in­vest­ment mar­ket and has long re­it­er­ated its in­ter­est to invest in the Re­gion.

Le­banon is among the coun­tries that have not sus­pended their in­vest­ment and business ac­tiv­i­ties in the Kur­dis­tan Re­gion.

Mr. Jac­ques Jean Sar­raf, Chair­man of the Malia Group which owns var­i­ous in­vest­ments in the Re­gion es­pe­cially in the tourism sec­tor told krg. org “The Le­banese pri­vate sec­tor is keen on the Kur­dis- tan Re­gion and they did not sus­pend their ac­tiv­i­ties in the Re­gion.”

He added that his group is one of the main ex­porters to the Kur­dis­tan Re­gion and they are work­ing on find­ing an al­ter­na­tive route for bring­ing their goods to the Re­gion through air cargo as most of the Syr­ian and Le­banon bor­der is un­der the con­trol of the Is­lamic State ter­ror­ist or­ga­ni­za­tion.

Mr. Sar­raf said, “Le­banon has played a sig­nif­i­cant role in de­vel­op­ing the Re­gion's bank­ing, con­struc­tion and tourism sec­tors, and has con­trib­uted to the in­vest­ment in the Kur­dis­tan Re­gion, in­clud­ing in ba­sic and higher ed­u­ca­tion.”

In another de­vel­op­ment, Bri­tain Business Group Kur­dis­tan was launched on De­cem­ber 10, 2014 to fur­ther col­lab­o­ra­tion be­tween Bri­tish com­pa­nies and com­pa­nies based in the Kur­dis­tan Re­gion.

Dur­ing the in­au­gu­ral cer­e­mony, Mr. Frank Baker, Bri­tish Am­bas­sador to Iraq, high­lighted the Kur­dis­tan Re­gion as a sta­ble and suit­able en­vi­ron­ment for eco­nomic and trade ac­tiv­i­ties.

Dur­ing the cer­e­mony, KRG Spokesper­son Min­is­ter Safeen Diza­yee reaf­firmed, “The KRG sup­ports the free mar­ket and fa­cil­i­tates for­eign in­vest­ment in the Kur­dis­tan Re­gion.”

Newspapers in English

Newspapers from Iraq

© PressReader. All rights reserved.