Press Release

Gutierrez Travels to Baghdad to Promote Private Sector Growth and Participate in U.S.-Iraqi Business Dialogue

BAGHDAD—U.S. Commerce Secretary Carlos M. Gutierrez today met with Iraqi and U.S. business leaders to collaborate on ways to strengthen Iraq’s economy and to build upon recent security gains that have resulted from the U.S. troop surge.

“There is no better time than now for economic liberalization and the growth of the Iraqi private sector,” Gutierrez said. “We are committed to working with our Iraqi counterparts to attract private investment into the country because an economically prosperous Iraq will advance hope and peace in Iraq.”

In Baghdad, Gutierrez participated in the second meeting of the U.S.-Iraq Business Dialogue (USIBD). The creation of the Dialogue was one of the objectives Secretary Gutierrez outlined with Iraqi Minister of Trade Abd Al-Falah Al-Sudani during his 2006 visit to Baghdad. Today, the USIBD presented its first formal recommendations aimed at developing Iraq’s private sector, including adoption of policies to stimulate the growth of the private Iraqi banks and the creation of a joint U.S.-Iraq initiative to restart dormant private Iraqi industry.

Six private sector representatives, including the U.S. Chamber of Commerce, Case New Holland, Nortel, Sallyport Global Logistics and Solemar, LLC joined Gutierrez in Iraq. The Secretary met with General David H. Petraeus to learn about progress in U.S. military efforts and discuss joint U.S. Government civilian and military efforts to develop the private sector. He also met with Prime Minister Nouri al-Maliki, Deputy Prime Minister Barham Salih and Minister Al-Sudani to discuss bilateral relations.

In Baghdad, he addressed a luncheon hosted by the American Chamber of Commerce in Iraq, focusing on the opportunity and responsibility that Iraqi business leaders have to build the nation’s economy.

“The private sector can best allocate capital, create jobs and innovate,” Gutierrez said. “It is government’s role to create an environment in which they can succeed. Developing Iraq’s economy will take ongoing partnership between the private and public sectors, as well as a commitment to instituting fundamental economic reforms. The U.S. is proud to help Iraq on its path to peace and prosperity.”

Gutierrez is in the region to attend the U.S.-Middle East and North Africa Trade and Investment Conference at the Dead Sea. Following Iraq, he will travel to Jordan to meet with his economic and trade counterparts to discuss expanding trade and investment as well as visit a public-private partnership that is improving education opportunities throughout the Middle East. The conference will build upon President Bush’s January Middle East visit where he highlighted the value of continued economic liberalization to create jobs, prosperity and hope for the people of the region.

For more information on the Iraq Construction and Reinvestment Task Force please visit: www.trade.gov/iraq