12/12/2013
Is this the Dawn of a New Era for US and Iraq?
Should investors keep an eye out for foreign exchange potential...
Iraq’s economy has suffered from US sanctions for many years however, Obama’s treaty deal is set to change the economies on a large scale and merge America into the emerging one world economic system.
The United States and Iraq announced that the United States-Iraq Trade and Investment Framework Agreement (TIFA), is likely to move forward in the new year, providing a bilateral forum devoted to encouraging greater trade and investment between our two countries.
The intention is to continue efforts to improve the economic relationship between the United
States and Iraq, including trade and economic issues such as services, transparency, worker
rights and intellectual property.
Two-way trade between the United States and Iraq in 2012 was $21.3 billion, with U.S. exports to Iraq at $2.04 billion, and Iraqi exports to the United States at $19.3 billion. Over the past several
years, U.S. companies in the energy, defence, information technology, automotive, and transportation sectors have become increasingly active in Iraq.
What are your thoughts on this topic, is potential for investors or is this rocky territory?
