Beecroft: U.S. companies, are demonstrating tremendous commitment to Iraq

Beecroft: U.S. companies, are demonstrating tremendous commitment to Iraq
25/06/2013 22:09:00

Baghdad (NINA) - U.S. Ambassador to Iraq Stephen Beecroft stated during the ceremony, "U.S. companies, such as Citi, are demonstrating tremendous commitment to Iraq."
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Ambassador Stephen Beecroft added during a reception hosted by the US Embassy in Baghdad, celebrate the opening of Citi’s representative office in Baghdad. Citi is the biggest financial services corporation in the United States, saying, "Our companies bring capital and expertise, world-leading technology, and innovative management and financing practices. They also bring the highest international standards of corporate governance, work-force training, corporate social responsibility and connectivity to the global economy."

He added, "In deciding to open an office here Citibank has recognized the promise that Iraq’s future holds. Working together, Citi and Iraq can attract even more investment and business from U.S. and international firms."

For his part, Mr. James Cowles, Citi’s Chief Executive Officer for Europe, the Middle East & Africa, stated "Iraq is an important market, with an economy that has substantial potential over time. Having a presence in Iraq will position us to better attune our services to the banking needs of our clients as they grow and develop their businesses in the country."

The statement concluded that the U.S. Embassy in Baghdad worked closely with the Central Bank of Iraq and Citi in the months leading up to the announcement. Citi’s operations in Iraq will strengthen U.S. and Iraqi economic ties by fostering trade and infrastructure development, and by bolstering economic and financial institutions. / End

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