Washington, October 21: US President Barack Obama hailed the importance of a visit by Prime Minister Nuri al-Maliki, who is accompanied by executives from 200 businesses and officials overseeing some 750 projects in all economic sectors.
“It represents a transition in our bilateral relationship so that we are moving now to issues beyond security and we are beginning to talk about economy, trade, commerce,” Obama said as a two-day business and investment conference began at a Washington hotel on Tuesday.
“We’ve seen over the last several months progress being made on providing clarification about investment laws inside of Iraq. There are obviously enormous opportunities for our countries to do business together,” Obama said.
With US troops withdrawing from Iraq, Maliki, who appeared earlier at the conference, said US-Iraq ties are moving beyond security cooperation to “economic development.”
“We are trying to rebuild all our sectors of agriculture, oil sectors, tourism and so forth,” Maliki said.
“We want to give the US companies an opportunity to be present in investing in Iraq, and all this cooperation on the basis of the Strategic Framework Agreement,” he added.
Maliki said elections scheduled for next year must be held on time and done properly.
US Secretary of State Hillary Clinton, who was with Maliki at the business forum, said free, fair and safe elections would pave the way for a new national unity government and improve the climate for business.
Although the Iraqi parliament has delayed a vote on a comprehensive hydrocarbon law to regulate the oil sector, Clinton said, Baghdad can take steps in the interim to lend transparency to how natural resources are managed.
The chief US diplomat also made a plug for investment in Iraq.
“As the Iraqi government continues to make its reforms, I urge US businesses to really see all of the progress that has been made. The security situation has improved. The conditions for investment are stronger,” Clinton said.
While Iraq’s National Investment Commission chief Sami al-Araji has conceded he does not expect deals to be inked at the conference, some 750 projects will be presented to potential investors.
Obama Tuesday said it was important for Iraq’s parliament to overcome delays and pass an election law.
“We are very interested, both of us, in making sure that Iraq has an election law that is completed on time so that elections can take place on time in January.”
Obama reassured Maliki that the United States would meet its deadline to withdraw its troops from Iraq.
“I re-emphasized my commitment to Prime Minister Maliki that we will have our combat troops out of Iraq by August of next year, and all of our troops out of Iraq by 2011,” Obama said.
“What is wonderful about this trip is that it represents a transition in our bilateral relationship, so that we are moving now to issues beyond security and we are beginning to talk about economy, trade, commerce,” Obama said after the Oval Office talks.
Maliki pleaded for remaining UN sanctions against Iraq, imposed after former leader Saddam Hussein invaded Kuwait in 1990, to be lifted.
—Agencies