Monday, 02 July 2012 12:52
Shafaq News / The Businessmen Union in Basra revealed on Monday that it has signed an agreement with Washington Chamber of Commerce to activate trade exchange and facilitate the entry
of U.S. investment companies to Basra province.
The head of the businessmen Union in Basra province, Sabih Yoser al-Hashemi told "Shafaq News", that "it agreed with the Vice Chairman of Washington Chamber of Commerce, Stephen Louise who visited Basra recently, to develop practical steps to activate trade and facilitate the entry of U.S. investment companies to Basra."
"The security improvement that has witnessed a great development and the existence of investment opportunities make the two sides exploit opportunities to achieve common interests,” he said.
For his part, the member of the provincial council in Basra, Fadel Ajaimi said to "Shafaq News", that "the coming period will witness a major shift in the entry of American companies in various disciplines to Basra markets, as the local government is working to facilitate this task and in coordination with the relevant authorities to open up to the Global companies to reconstruct Basra province.”
Basra province is one of the largest provinces of Iraq that occupy an outstanding economic status as it is considered the vital nerve for the Iraqi economy, which depends unilaterally on the oil exports and its exports of oil that forms more than 80% of the total Iraqi oil revenues in addition to the presence of the only ports on its territory.
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