Iraq-Britain Business Council (IBBC) holds its twelfth conference in London

In coordination with the Embassy of the Republic of Iraq to the United Kingdom and with the participation of the Deputy Prime Minister for Energy Affairs/ Minister of Oil of Iraq, Mr. Hayyan Abdul Ghani Al-Sawad, and a number of Iraqi officials, the Iraq-Britain Business Council (IBBC) held its twelfth spring conference under the title “Insights and Opportunities”, at the historic building (Mansion House) in London on Tuesday, 02/07/2024.

The opening session of the conference began with the speech of the President of the Iraq-Britain Business Council (IBBC), Baroness Emma Nicholson, who praised the attendees for their active participation in holding this twelfth edition, in light of the special circumstances that precede the general elections in United Kingdom, as well as the current situation in the Middle East. She praised the Iraqi officials who contributed to the success of the Council’s work over the past years, as the Iraqi-British Business Council celebrates this year the 15th anniversary of its establishment in London in 2009, and the continuation of its activities in Erbil, Basra and Dubai.

The Deputy Prime Minister/ Minister of Oil of Iraq, Mr. Al-Sawad, delivered a speech in which he stressed that the advanced position of the Iraq in the field of energy enabled it to play a major and influential role at the global and regional levels, stressing the direction of the Iraqi government to start establishing the development path, which will lead to the development of free zones and the expansion of multiple industries as well as the extension of oil and gas pipelines. He also pointed to the progress that has been made in reducing the rate of gas flaring associated with oil, which reached 64%, and it is planned to reach the full rate by 2028, and in the field of refining, he indicated that Iraq has achieved self-sufficiency in the production of kerosene and gas oil and began exporting the first shipments of gas oil, and it is hoped to reach self-sufficiency in gasoline production during the coming period.

The Chairman of the Kurdistan Investment Board, Dr. Mohammed Shukri, also delivered in a speech, in which he highlighted the areas of investment in the Kurdistan Region Iraq and the facilities granted by the regional government to investors, as the regional government is moving to encourage investment in the field of energy, industry, agriculture and roads, as well as strengthening tourism infrastructure.

The conference included four sessions on multiple topics: energy, climate change and technology, financial investments and transport, and it also aimed to focus on the Iraqi private sector to make a real mark in the Iraq as well as the opening session and roundtable discussions.

A number of prominent Iraqi and British officials participated in the conference.