British Business supports resilience in Kurdistan Region

The Kurdistan Region’s economy is going through a challenging time, but that does not mean business stops. Last week the British Consulate General held a series of events to show case how UK companies remain active in Kurdistan, and to highlight what can be offered in sectors which are critical to the Region’s economic recovery and long-term growth.

Even during a downturn, it would be a false economy to neglect investment in education. The UK is the Kurdistan Region’s leading international partner on education and higher education, with the British Council working strategically with the respective ministries, schools and universities to improve the quality of education as well as English teaching standards. There is a compelling economic case for improving education, inward investment and job creation. 

The challenging climate has also underscored the necessity of reform. As Consul General Angus McKee told Xendan.Org last month, “the old model is no longer sustainable.” The Kurdistan Regional Government (KRG) needs to review inefficient industries and sectors, restructure the Region’s financial institutions, and improve transparency and regulation. The private sector has a lead role to play, and UK companies are renowned for quality and professionalism. As one of the world’s leading financial centres, London–and the wider UK–has much to offer.   

As Head of UK Trade and Investment (UKTI) in the Kurdistan Region, I am here to support and champion the many British companies already established in-country and connect new ones to the potential opportunities in the Kurdistan Region as well as wider Iraq. While no stranger to Kurdistan, I arrived here from the UK last December. My appointment was itself an indicator of the UK’s long-term commitment. 

UKTI is the UK Government’s department for supporting British firms in their exports and assisting companies from overseas to invest in the UK.

With dedicated sector teams and overseas posts in over 100 countries worldwide, for British businesses who want to extend their outreach to the international markets, UKTI provides the support and knowledge for companies to export into new markets abroad. Whether it is first time exporters or small and medium sized companies, UKTI can provide the necessary services and expert advice on exporting to a new market. 

We have expertise in Healthcare, Oil and Gas, Education and many other fields. We work with trade associations in the UK. And we can assist local Kurdish companies in finding the right UK partners to support their ongoing projects and meet their business needs. 

Through the 2020 Export Drive, the UK government in 2012 outlined ambitious plans for global exports to reach £1 trillion by the year 2020 and almost double the export rate at the time. UKTI is at the forefront of supporting the Government’s export strategy and is working to support over 100,000 new exporting companies by the year 2020. 

We concluded last week’s series of events with a “fish and chips” dinner for leading members of the British business community in the Kurdistan Region, co-hosted with British Business Group Kurdistan. These companies remain committed to the Kurdistan Region. There continues to be interest from UK-based companies on the potential here. Through their products and services, Great British companies will make a real contribution to economic recovery and sustainable growth in the Kurdistan Region. Business is GREAT.

Rawand Askary is the head of the UK Trade and Investment to the Kurdistan Region of Iraq.