General information about Republic of Iraq

Located at the crossroad of culture and commerce, Iraq has the world's second largest proven oil reserves with an enormous potential.

Today, Iraq is living its revival period. GDP has risen due to the improvement of the security conditions and to the augmentation of oil exports and internal commerce. GDP has grown from $57B USD in 2006 to $112B USD in 2009. GDP per capita was $3,600 USD and is forecast to exceed $4,500 USD by 2014.  Moreover, as Iraq reintegrates into the international community, growing number of agreements will help restarting the Iraqi economy. Based both on rising oil prices and increasing production capacity, 2010 budget is expected to be more optimistic. The government's budget committee recommends a budget based on oil prices of $60 USD per barrel and exports of 2.15M bpd. This seems achievable: Already in 2009, exports have reached nearly 2.04M bpd, surpassing the Iraqi Oil Ministry's target of 2.2M bpd, at prices approaching $65 USD per barrel. Iraq plans to increase its crude oil production to 6.0M bpd by the year 2015.

General information about Iraq

Capital : Baghdad
Official Languages : Arabic Kurdish
Government : Parliamentary Democracy
President : Jalal Talabani
Prime Minister : Nouri Al-Maliki
Total Area : 438.317km²
Population : 28,945,569
Ethnic Groups : Arab 75%-80%, Kurdish 15%-20%, Turkoman, Assyrian, or other %5
GDP : $131B USD
GDP per capita : $4,360 USD
GDP Real Growth Rate : 7.7%
GDP Composition by Sector : Agriculture 9.6%, Industry 62.8%, Services 27.6%
Labor Force : 8.175 million
Industries : petroleum, chemicals, textiles, leather, construction materials, food processing, fertilizer, metal   fabrication/processing
Agriculture products

: wheat, barley, rice, vegetables, dates, cotton; cattle, sheep, poultry

Exports : 40.86 billion
Currency : Ýraqi Dinar
Calling Code : +964

Northern Iraq Region

Northern Iraq is a stable, resource-rich, emerging market with excellent opportunities across all sectors of the economy. With a democratically elected Prime Minister and President, Kurdistan Regional Government (KRG) is an autonomous region that welcomes foreign investment and engages positively with the wider international community commercially and politically. It is also the secure gateway to Iraq. KRG ministers hold key positions in Baghdad and are fully committed to the development and establishment of the new, united Iraq. Because of the security available in the city, it is a strong economic center, and stationed in it a large number of local businesses and regional and global companies where these companies are operating across Iraq. Besides, the region's liberal investment law offers foreign investors a number of incentives.
Impressive figures of the region worth mentioning. The Iraqi economy is set to grow larger in each year and KRG's even faster. The region has attracted more than $12bn in non-oil investment in the past four years, some $3.1bn from abroad. There are already 1,200 foreign companies working in the region. The safe environment, maturing economy and rapid development in the KRG make it a model of growth and the ideal gateway to the rest of Iraq. In 2003, GDP per capita in Iraq was barely $465. The current GDP per capita in the KRG is estimated at $4,500, which compares with nearly $3,600 in Iraq as a whole. With a population of approximately 4.5 million in an area of 80,000 square km, the conditions in the KRG are such that agriculture, industry, energy, tourism and trade and investment can all thrive.
Oil and gas reserves a significant place in KRG. With oil reserves estimated at 45 billion barrels, and between 6 and 8 trillion cubic meters of gas, hydrocarbons are both a major economic asset for the region, and a route to the world stage. However, the region is not just about oil. The domestic economy is also booming, particularly in the construction and retail sectors. The region's towns and cities are alive with construction sites for new shopping malls and supermarkets; i.e. global companies such as Mango and Benetton seized the opportunity to push their brands into an entirely new market. In regard to the construction and infrastructure sectors, Prime Minister of the KRG Barham Salih stated that since 1991 more than 900km of paved roads and 4,000 drinking-water projects are implemented, some of which are large-scale and strategic, such as Ifraz in Erbil and Dukan in Sulaymaniah. This is in addition to the implementation of more than 6,800km of sewerage grids in all cities, districts, and sub-districts.

In addition to the KRG improving economy, the KRG Investment Law has many encouragements for foreigners. Foreign investors and companies are able to own property; they receive an automatic five year tax holiday that can be extended to 10 years; and they are exempt during that time from import duties, income taxes and taxes on repatriated profits. Equipment and machinery that are imported for the project are also tax-free.

Sulaymaniah

With its approximately 2 million population and 17.023 km2 total area, Sulaymaiýah Governorate is part of the North Iraq Autonomous Region. Having the same name with the governorate, Sulaymaniah is the capital city of Sulaymaniah Governorate. The city has an international airport and direct flights to and from Europe and the Middle East.

Sulaymaniah is the stable city of Iraq with an open society that adopted western values and European image. Furthermore purchasing power of the society is higher in comparison to other cities of Iraq.  Sulaymaniah is in reconstruction period. Thus, its trade, investment potential strikes the attention of businessmen and investors.

Iraqi Building and Construction Sector

Iraq is in need of a full range of infrastructure related products, services and systems, including hospital equipment and supplies, security products, building materials and equipment, electrical engineering and technology, lighting equipment, finishing products, hardware, tiles and stone, roofs material, road and rail machinery, oil production equipment and finance and telecom systems. Work on hundreds of major projects worth US$43.5 billion - pledged by the interim Iraqi government with funds from Iraq's own oil revenues - is moving ahead.

Reconstruction contracts are no longer restricted to number of countries. They are now being awarded and supervised by Iraqi ministries, a development that has encouraged suppliers and contractors from around the world to come forward and grab a share of the multibillion-dollar redevelopment process. It is estimated that over the next four years, Iraq's new government will be spending more than US$150 billion on reconstruction of key sectors.


BUILDING MATERIALS & MACHINES
• Construction tools & equipments,materials & machines
• Oilfield and Gasfield Equipment & Services,
• Building metarials & equipments & machines
• Iron & steel products
• Pipes and plumbing 
• Asphalt machinery
• Door & window & glass systems
• False ceiling materials
• Exploration and Production,
• Drilling and Well Servicing, Construction,
• Roofing systems bathroom & kitchen equipments
• Floor covering
• Heavy machinery
• Paints
• Infrastructure equipments
• Sewage system, drain technologies
• Safety products 
• Airport equipment 
• Architectural finishes 
• Formworks
• Stone & stone equipments & machineries
• Water proofing
• Wood products
• Road  signs
• Transportation and export of oil,gas, products and LNG,
• Geophysics and Geology.
ELECTRICITY & LIGHTING
• Cables & wiring
• Electrical equipments & supplies
• Power generation
• Indoor & outdoor lighting

OTHER PRODUCTS GROUPS
• Refrigeration
• Security equipments
• Solar energy systems
• Alarm systems









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