PM Masrour Barzani, USKBC delegation discuss economic ties, oil exports
Prime Minister Masrour Barzani emphasized the urgent need to resume oil exports from the Kurdistan Region, highlighting that the current suspension has led to billions in losses for the general budget.
Nov. 17, 2024
ERBIL (Kurdistan 24) - On Sunday, Kurdistan Region Prime Minister Masrour Barzani received a delegation from the US-Kurdistan Business Council (USKBC) comprising representatives from various American companies.
According to a statement from the Kurdistan Regional Government (KRG), USKBC President David Tafuri opened the meeting by congratulating the Prime Minister on the successful completion of the sixth Kurdistan Parliamentary elections, praising their free and democratic nature.
Tafuri also provided an overview of the delegation's visit objectives.
"The Kurdistan Region holds a significant position in Iraq and the broader region," Tafuri stated. "Our visit aims to express support and enhance economic, trade, and investment relations with the Kurdistan Region."
Prime Minister Barzani discussed recent developments in Iraq and the region, including the Kurdistan Region's relationship with the federal government.
He highlighted the KRG's reform initiatives, particularly emphasizing digitalization of government services, banking system modernization, the "MyAccount" project, and streamlined procedures for investors.
The Prime Minister also addressed the crucial issue of resuming Kurdistan Region's oil exports, noting that the current suspension has resulted in billions of dollars in losses to the general budget.
"The oil export process needs to resume as soon as possible," Prime Minister Masrour Barzani emphasized.
The meeting concluded with the Prime Minister responding to questions and observations from the delegation members.
The US-Kurdistan Business Council serves as a crucial bridge between American businesses and the Kurdistan Region, promoting commercial ties and investment opportunities. The Kurdistan Region's oil exports have been suspended due to ongoing disputes with the federal government of Iraq, significantly impacting the region's economy.
The KRG has been implementing various reforms to modernize its economy and attract foreign investment, with digital transformation and banking sector development being key priorities.
These efforts come as the region works to diversify its economy and strengthen its position as a business hub in Iraq.