Austrian companies in Vienna heard about the investment and trade opportunities in the Kurdistan Region, at the first business lunch to be jointly hosted by the Kurdistan Regional Government Austrian Representation and the Austrian Federal Chamber of Commerce. The guest of honour was Chairman of the Kurdistan Investment Board Minister Herish Muharam, who on the same visit led the first KRG delegation to the Slovak Republic.
The event brought together Austrian companies, entrepreneurs and institutions who have shown much interest in the Kurdistan Region’s rapidly developing economic sector, particularly in the areas of agriculture, tourism, industry and infrastructure.
In his keynote address, Minister Muharam presented specific trade and investment opportunities.“International companies for years have enjoyed success in the Kurdistan Region. Now is the time for Austria to enjoy the same! Austria is known for their excellence in agricultural cultivation and machinery as well as the successful tourism promotion. The Kurdistan Region has many projects in these sectors open to you.”
Minister Muharam also stressed the need for greater Austrian participation in the infrastructure development of the Region, principally in the construction of schools, hospitals, roads and bridges.
Dr Richard Schenz, Vice-President of the Austrian Federal Chamber of Commerce (WKO), highlighted the positive experience he had in the Kurdistan Region during his visit with Austria’s Foreign Minister Dr Spindelegger in November 2011. He said,“ The business hub Erbil is not only the gateway to the Kurdistan Region, but also to the central and southern provinces of Iraq. The necessary conditions for trade and investment have been established by the Kurdistan Regional Government with the introduction of the legal framework for investment, the liberalisation of the economy, the speedy development of the infrastructure, the improvement of the financial and insurance sector, and the numerous trade fairs. The potential offered to Austrian businesses in Iraq is large and we have the greatest interest in deepening our trade relations.”
Dr Schenz added that the Chamber hopes to hold its first Kurdistan Region forum in Austria next year.
Dr Surood Najib, Iraq’s Ambassador to Austria and Dr Mustafa Ramazan, the KRG Representative to Austria,welcomed the audience. Dr Ramazan said, “The Kurdistan Region has proven to international companies to be an ideal entry point to the Iraqi market, bringing a great deal of mutual success and rich experiences. Renowned Austrian companies, such as Austrian Airlines, OMV and Doppelmayr, are already contributing to the positive economic development of the Region.”
Other participants in the presentation included Mr Stephan Brändle whose company Doppelmayr completed two tourist cable car projects on Korek and Chavy mountains, and is implementing a third in Duhok; and Mr Stefan Haidof Roland Berger, a strategy consultancy that has been working for over a year with the Kurdistan Board of Investment particularly on institutional development and investment promotion.
Minister Muharam, along with the KRG Representative and Iraqi ambassador, also held meetings with Ms Bernadette Gierlinger, Vice Minister at the Federal Ministry of Economy, Family & Youth, Dr Richard Schenz, Vice President at the Austrian Federal Chamber of Commerce, and with directors of key Austrian institutions where ways of strengthening economic bilateral relations was discussed.
On the same trip, Minister Muharam, accompanied by Dr Ramazan, led the first KRG delegation to the Slovak Republic. The Minister met with Ambassadors of the Slovakian Ministry of Economy and Ministry of Foreign and European Affairs, the Executive Director of the Slovak Investment and Trade Development Agency, and the Secretary General of the Slovak Chamber of Commerce and Industry.
Ambassador Dagmar Repcekova of the Slovakian Ministry of Foreign and European Affairs warmly welcomed the visit stating the desire of the Slovakian government to boost economic relations with the Kurdistan Region and Iraq and discussing the upcoming honorary consulate in Erbil.
Minister Muharam thanked the Slovakian Government for the visit saying, “The Kurdistan Regional Government very much welcomes the opportunity to have Slovakian companies do business in the Region, sharing their skills and knowledge. We want your experience to be part of the Kurdistan Region experience and look forward to your new office in Erbil.”
The Iraqi Ambassador to the Slovak Republic, Dr Matheel D. Al-Sabti, attended the meetings in Slovakia.
