Export Compliance Daily is a Warren News publication.

Iraq Wants Increased Trade With US, Opposes US Sanctions, Ambassador Says

Iraq wants to increase trade with the U.S. and make market access for U.S. companies more attractive, Iraq's Ambassador to the U.S. Fareed Yasseen said. But Yasseen also said Iraq is opposed to U.S. sanctions on Iran and will not take a side as tensions escalate. Yasseen said Iraq is working on two draft laws to boost trade and standardize entrances at customs border gates to convince U.S. companies to do business in the country. “Simply put, we would like U.S. businesses and U.S. society to have a role in the reconstruction of Iraq,” Yasseen said, speaking during a Sept. 10 Atlantic Council event.

Sign up for a free preview to unlock the rest of this article

Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.

Yasseen said Iraq recognizes “that the business environment in Iraq is not very attractive,” but the country’s prime minister “really wants to make an attractive investment climate for foreign companies.” Yasseen said the U.S.-Iraq Strategic Framework Agreement, ratified in 2008, was a good initial step toward closer ties but has yet to produce significant results. The ambassador called the agreement “a mile wide and an inch deep” and urged an increased commitment from the U.S. to boost cooperation in areas such as trade.

“I think there is still enough scope in the current strategic framework to do much more,” Yasseen said. “But for God’s sake, let’s do something.”

Yasseen also called the U.S. a “partner, friend and ally” but said the country opposes U.S. sanctions. He said sanctions “make people suffer” and “the best way forward is through negotiations,” offering Iraq up as a potential mediator between the U.S. and Iran. “We will not take sides in any regional conflict,” Yasseen said. “Iran is Iraq’s neighbor, with whom we share long borders, mutual history and strong relations. We will not take sides but -- as it should be -- look to preserve Iraq’s interests.”