Sir Andrew Cahn, Chief Executive of government trade promotion body UK Trade & Investment (UKTI), visits Iraq this week to strengthen the business relationship between the two countries.

Sir Andrew will meet with UK companies working in Iraq and key political figures to learn more about commercial opportunities in the country and plans to improve the environment for overseas businesses

Sir Andrew said:

‘I’m here because we recognise that there are considerable opportunities in Iraq – and not only in the oil and gas sector. British companies are already doing business here, and their numbers are increasing.  The National Investment Commission’s work on the Investment Law has sent a positive signal for foreign companies, and I am keen to explore what other measures will further encourage trade and investment.’

Sir Andrew’s visit follows that made in April by the Secretary of State for Business Lord Mandelson. In the same month over 600 delegates attended the Invest Iraq conference in the UK.

UK companies engaged in Iraq operate in sectors including oil and gas, construction services, finance, legal and healthcare.

UK trade with Iraq is on the increase. UK exports of services rose - from £273 million in 2007 to £433 million in 2008. UK exports of goods increased last year by 17% to £156 million. UK exports of goods have continued to rise in 2009– up 6% year on year to £94 million over the period January to July.

Notes for Editors

About UK Trade & Investment:

UK Trade & Investment (UKTI) is the government organisation that helps UK-based companies succeed in the global economy. We also help overseas companies bring their high quality investment to the UK’s economy – acknowledged as Europe’s best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. We provide companies with the tools they require to be competitive on the world stage. For more information please visit www.uktradeinvest.gov.uk or telephone +44 (0)20 7215 8000. For latest press releases, visit the online newsroom at www.newsroom.uktradeinvest.gov.uk.

More information on UKTI can be found at blog.ukti.gov.uk; twitter.com/londonukti; and www.flickr.com/photos/tags/ukti.

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