Friday: On Hillary Clinton's Agenda

Secretary Clinton To Deliver Remarks to Business Forum Promoting Commercial Opportunities in Iraq on June 3

Office of the Spokesman

Washington, DC

June 1, 2011

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On Friday, June 3, Secretary Clinton will lead the Department of State in hosting a Business Forum with senior executives from major U.S. corporations from across our economy to discuss opportunities in the new Iraq. Deputy Secretary of State Tom Nides will also moderate discussions between senior officials from the Departments of State, Treasury and Energy and the corporate executives. Senior Iraqi government officials will deliver remarks as well.

After years of civil conflict and economic isolation, Iraq is eager to develop its economic potential. As the United States transitions this year from a military-led to civilian-led partnership with Iraq, the State Department is leading a broad interagency effort to support U.S. companies looking to do business there.

While businesses entering the Iraqi market continue to face hurdles, including a greatly improved but still difficult security environment, some positive developments, such as rising oil revenues, expected double-digit domestic economic growth, significant investments in infrastructure, and a stable democratic government point to the conclusion that Iraq represents a unique business opportunity with benefits for the United States and Iraq.

The Department of State wants to ensure that commercial opportunities in Iraq are not lost at this critical juncture. Some U.S. companies have seized opportunities in Iraq, but many more opportunities exist for additional U.S. involvement.

In many cases, U.S. firms are well placed to bring their expertise to bear in the Iraqi market. Given America’s reputation for innovation and quality, Iraqi entrepreneurs are also anxious to partner with U.S. counterparts.