.Bilateral U.S.-Arab Chamber of Commerce Hosts Opportunities in Iraq Breakfast Panel
HOUSTON--(BUSINESS WIRE)--The reconstruction of Iraq is under way and opportunities for Texas businesses abound. The Bilateral U.S. – Arab Chamber of Commerce (BUSACC) is hosting a business breakfast and panel discussion featuring Iraq’s Ambassador to the United States, the Senior Commercial Counsel and a high level Ministry of Energy official and delegation, along with American risk and security mitigation experts.
The event will take place on Tuesday, Feb. 16. Tickets are $35 for BUSAAC members and $100 for non-members.
The breakfast presentation will cover the following sectors:
Oil and Gas—Iraq has the world’s third-largest petroleum reserves and plans to increase production from the current 2.5 million barrels per day (mmb/d) to 12 mmb/d by 2015, and its finding costs of $1.50-$2.25 per barrel are among the world’s lowest;
Housing and Construction—Nearly two million housing units will be needed over the next five years, 85 percent of which will be built by private-sector firms;
Electricity—Infrastructure additions over the next decade contemplate 24,000 megawatts in new generation projects, along with transmission and distribution networks and natural gas facilities;
Banking and Finance—Guarantees and letters of credit have more than doubled since mid-2008 to US $887 million, bank lending has grown 52 percent since May 2008 to over US $575 million, and the Central Bank of Iraq has sold more than US $2.9 billion a month over the last year to banks for trade transactions; and
Healthcare and Pharmaceuticals, Manufacturing and Agriculture.
“In these difficult economic times, Iraq is a bright spot of opportunity for business development,” said Aida Araissi, President & Managing Director of BUSACC. “This event presents a unique venue for Houston companies to learn how to participate in the rebuilding effort and meet key contacts for establishing a business presence in Iraq.”
Participating in the panel discussion and networking session are:
His Excellency Samir Sumaida’ie, Ambassador of Iraq to the United States;
Dr. Sabah Abdulkadhum Shibeeb Al-Saidi, Deputy Director General Head of Legal & Commercial Department Petroleum Contracts and Licensing Directorate (PCLD), Iraqi Ministry of Oil;
Dr. Naufel Alhassan, Iraqi Commercial Counselor to the United States;
Bracewell & Giuliani Partner Martin Hunt, discussing mitigation of legal risk and tips on doing business in Iraq; and
Dale Allen of Drum Cussac/JSI Group, a veteran Iraq-based security provider.
Online registration is available at www.bilateralchamber.org. Participation is first-come, first-served, as space is limited. The event is sponsored by Baker Hughes, Bracewell & Giuliani, Continental Airlines, ExxonMobil, Fluor, Occidental, Schlumberger and the U.S. Commercial Service.
The Houston-based Bilateral U.S.-Arab Chamber of Commerce (BUSACC) is a non-profit membership organization whose mission is to foster trade, business development and understanding between the United States and Arab countries in the Middle East and North Africa. BUSAAC has an extensive network of high-level decision makers in the region and organizes and conducts trade missions, outreach activities and educational programs toward the fulfillment of its mission.
Business Wire
The event will take place on Tuesday, Feb. 16. Tickets are $35 for BUSAAC members and $100 for non-members.
The breakfast presentation will cover the following sectors:
Oil and Gas—Iraq has the world’s third-largest petroleum reserves and plans to increase production from the current 2.5 million barrels per day (mmb/d) to 12 mmb/d by 2015, and its finding costs of $1.50-$2.25 per barrel are among the world’s lowest;
Housing and Construction—Nearly two million housing units will be needed over the next five years, 85 percent of which will be built by private-sector firms;
Electricity—Infrastructure additions over the next decade contemplate 24,000 megawatts in new generation projects, along with transmission and distribution networks and natural gas facilities;
Banking and Finance—Guarantees and letters of credit have more than doubled since mid-2008 to US $887 million, bank lending has grown 52 percent since May 2008 to over US $575 million, and the Central Bank of Iraq has sold more than US $2.9 billion a month over the last year to banks for trade transactions; and
Healthcare and Pharmaceuticals, Manufacturing and Agriculture.
“In these difficult economic times, Iraq is a bright spot of opportunity for business development,” said Aida Araissi, President & Managing Director of BUSACC. “This event presents a unique venue for Houston companies to learn how to participate in the rebuilding effort and meet key contacts for establishing a business presence in Iraq.”
Participating in the panel discussion and networking session are:
His Excellency Samir Sumaida’ie, Ambassador of Iraq to the United States;
Dr. Sabah Abdulkadhum Shibeeb Al-Saidi, Deputy Director General Head of Legal & Commercial Department Petroleum Contracts and Licensing Directorate (PCLD), Iraqi Ministry of Oil;
Dr. Naufel Alhassan, Iraqi Commercial Counselor to the United States;
Bracewell & Giuliani Partner Martin Hunt, discussing mitigation of legal risk and tips on doing business in Iraq; and
Dale Allen of Drum Cussac/JSI Group, a veteran Iraq-based security provider.
Online registration is available at www.bilateralchamber.org. Participation is first-come, first-served, as space is limited. The event is sponsored by Baker Hughes, Bracewell & Giuliani, Continental Airlines, ExxonMobil, Fluor, Occidental, Schlumberger and the U.S. Commercial Service.
The Houston-based Bilateral U.S.-Arab Chamber of Commerce (BUSACC) is a non-profit membership organization whose mission is to foster trade, business development and understanding between the United States and Arab countries in the Middle East and North Africa. BUSAAC has an extensive network of high-level decision makers in the region and organizes and conducts trade missions, outreach activities and educational programs toward the fulfillment of its mission.
Business Wire
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