The international community gathered to collectively discuss Iraq's immense investment potential in London this past week. the U.K.'s ambassador to Baghdad, H.E. Frank Baker OBE stressed Iraq's potential to become an economic powerhouse in the middle east and encouraged British companies to seriously look into business opportunities at the Iraq Britain Business Council (IBBC)‘s Conference in London. Mr. Baker also added, “this economic reform cannot take place without developing the country’s private sector, because that in turn will help bring about stability and prosperity. Despite all the challenges, Iraq offers one of the greatest investment opportunities in the region.” Adding that conducting business in Iraq was really only appropriate for those companies with a buccaneering spirit.” He further stressed, "Iraq will offer one of the biggest investment opportunities to UK companies in the first half of this century, but to do so, British business has to be prepared to manage the risks and to take chances.”
Chief Executive of UK Export Finance (UKEF) Louis Taylor has further encouraged business in Iraq by stating there is £500 million ($750 million) in export credit cover available to UK businesses for contracts in Iraq.