Corporations eye up Iraq opportunities

Here's some interesting material from Greg Muttitt, formerly with Platform, on the corporate takeover of Iraq's oil. One of the central demands of Justice for Iraq is the restoration to the people of Iraq of full sovereignty over its economic resources.

“UK businessmen are champing at the bit to get into Iraq,” declared Michael Thomas, head of the Middle East Association trade promotion group, in March. “We just need someone to talk to.” On April 30, Thomas’ request was granted when the UK-sponsored ‘Invest Iraq’ conference took place in London. It occurred on the same day that British troops began their withdrawal from Iraq, handing their Basra base over to U.S forces. Speaking to representatives of over 100 major companies UK Secretary of State for Business Peter Mandelson noted that the British government had already arranged 19 investment visits to Iraq, generating US $10 billion of proposals. Lord Mandelson led the most recent of those visits – a delegation of 23 companies to Baghdad and Basra on April 6. The Invest Iraq conference aimed not only to bang the drum for investment in Iraq, but also to arrange one-to-one meetings for companies with Iraqi decision-makers. The delegation included five members of the cabinet, led by Deputy Prime Minister Barham Saleh. “Iraq is the largest greenfield investment opportunity on earth,” said Sami al-Araji, chair of Iraq’s National Investment Commission. “I could be exaggerating, but I’m not.” He did not need to convince anyone. The fact that the event was attended by several hundred businesspeople – with hundreds more having been turned away – spoke for itself.

For the full article: http://www.niqash.org/content.php?contentTypeID=28&id=2443&lang=0