business

In the past year, the United States Business Council
in Iraq was established to advance commercial
interests for American firms operating in Iraq.
Opportunity aside, al-Maliki acknowledged the
difficulty of moving his country from the planned
economy of the Saddam Hussein era to a market-
based system governed by transparency laws and
international regulations, not to mention convincing
American businesses to invest in a country that still
experiences a high volume of violence. He assured
his audience that his government was doing all it
could to root out corruption and make the country
safe for businesses to operate.
"Make no mistake, this is a country that's
developing, its commerce is developing, it's going to
take time, it's going to take energy," Deputy
Secretary of State Thomas Nides told CNN after al-
Maliki spoke. "U.S. companies are going there
because they believe they can make money and at
the end of the day that's what it is about, and most
of these companies have dealt with complicated
environments. Iraq is no different, but we have seen
huge progress."
Nides said the "robust diplomatic staff" still based in
Iraq after the military withdrawal will include large
economic and legal teams to work with U.S.
companies operating in Iraq.
Nearly 40 leaders from the Iraqi private sector made
the trip to Washington with al-Maliki to meet with
their American counterparts.