US agriculture delegation to visit Iraq, Kurdistan Region

ERBIL, Kurdistan Region - A delegation from the US Chamber of Commerce will visit Iraq and the Kurdistan Region to meet with government officials and discuss various business opportunities, a member of the delegation told Rudaw on Friday.

“We will be a delegation of about 30 companies and about 40 delegates, across the entire value chain in the food ecosystem,” Steve Lutes, vice president of Middle East Affairs at the US Chamber of Commerce, told Rudaw’s Diyar Kurda about the intended two-week visit.

According to Lutes, visiting companies come from the agriculture sector, including manufacturers of farm equipment and fertilizer. The visit comes after a discussion with Kurdistan Region Prime Minister Masrour Barzani, who said agriculture is “one of the pillars he was focused on,” said Lutes.

The delegation will speak with government officials to discuss policies, regulatory reforms and initiatives to encourage companies to invest and grow their businesses in Kurdistan Region and Iraq.

The Kurdistan Regional Government (KRG) is heavily dependent on the oil sector as the main source of revenue. It is seeking to diversify the economy through investments in various sectors, including agriculture. Last year, the KRG began exporting pomegranates and it plans to find markets for more Kurdish produce like apples, grapes, and honey.

A stoppage of oil exports following a March court ruling on the Kurdistan Region’s independent oil sales through Turkey’s Ceyhan Port dealt a blow to the Region’s economy.

In April an official from the US Chamber of Commerce warned against a prolonged halt of oil exports, saying it could shake foreign businesses’ confidence in investing in the region.

In May, Iraqi Oil Minister Hayyan Abdul-Ghani told Rudaw they have signed contracts with four companies to buy about half a million barrels of oil from the Kurdistan Region per day, and that they have informed the Turkish side that Iraq is ready to resume exports. Ankara, however, has not yet responded.