Erbil: The host city of sports t ournaments - Kurdish Globe
Erbil: The host city of sports t ournaments - Kurdish Globe
Erbil: The host city of sports t ournaments - Kurdish Globe
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<strong>The</strong> <strong>Kurdish</strong> <strong>Globe</strong> No. 276, Saturday, October 09, 2010 9<br />
First Kurdistan-Korean Business Forum<br />
<strong>The</strong> business<br />
gathering allows<br />
Korean and<br />
<strong>Kurdish</strong> delegations<br />
the opportunity to<br />
“exchange ideas,<br />
find solutions, and<br />
work hand-in-hand<br />
with the Kurdistan<br />
Region.”<br />
Kurdistan Regional Gove<br />
ernment <strong>of</strong>ficials <strong>host</strong>ed a<br />
delegation <strong>of</strong> prominent<br />
South Korean companies<br />
in the first meeting <strong>of</strong> the<br />
Kurdistan-Korean Busine<br />
ness Forum in <strong>Erbil</strong> on<br />
Wednesday, October 6.<br />
South Korea’s Ambassade<br />
dor Suk Bum Park, Chairme<br />
man <strong>of</strong> the Investment<br />
Board Minister Herish<br />
Muharam, and Head <strong>of</strong><br />
the KRG Department <strong>of</strong><br />
Foreign Relations Ministe<br />
ter Falah Mustafa Bakir<br />
presided over the forum<br />
at <strong>Erbil</strong>'s Convention<br />
Center.<br />
Ambassador Park said:<br />
“I am pleased to return<br />
meeting explores opportunities<br />
Commercial business possibilities dominate first business forum between the two delegations<br />
KRG.ORG PHOTO<br />
South Korea’s Ambassador Suk-Bum Park, Chairman <strong>of</strong> the Investment Board Minister Herish<br />
Muharam, and Head <strong>of</strong> the KRG Department <strong>of</strong> Foreign Relations Minister Falah Mustafa Bakir<br />
attend the Kurdistan-Korea Business Forum in <strong>Erbil</strong> on October 6.<br />
once again to Kurdistan,<br />
and I am very thankfe<br />
ful for the warm recepte<br />
tion and the hospitality.<br />
I suggested having such<br />
a gathering so that we<br />
could exchange ideas,<br />
find solutions, and work<br />
hand-in-hand with the<br />
Kurdistan Region.” He<br />
added: “It also gives Kore<br />
rean companies a chance<br />
to ask questions and get<br />
more details about investme<br />
ment and doing business<br />
here.”<br />
Minister Bakir thanked<br />
Korea's ambassador and<br />
the Embassy Liaison Offe<br />
fice in <strong>Erbil</strong> for suggestie<br />
ing and promoting the<br />
initiative. He explained<br />
that the Kurdistan Region<br />
Investment Board and the<br />
Department <strong>of</strong> Foreign<br />
Relations had worked<br />
closely with the Korean<br />
Embassy, and the level <strong>of</strong><br />
cooperation between the<br />
KRG and South Korea<br />
A pair <strong>of</strong> Emirati energy<br />
companies producing natue<br />
ural gas in Kurdistan Rege<br />
gion said on Tuesday, Octe<br />
tober 5, that they expect to<br />
boost the output capa<strong>city</strong><br />
there by 50 percent within<br />
two years.<br />
In an update marking<br />
two years <strong>of</strong> production in<br />
the self-ruled <strong>Kurdish</strong> rege<br />
gion, Dana Gas and Cresce<br />
cent Petroleum said they<br />
are currently able to pump<br />
200 million cubic feet <strong>of</strong><br />
gas daily. <strong>The</strong>y expect that<br />
level to rise to 300 million<br />
cubic feet daily by 2012.<br />
Existing production <strong>of</strong><br />
between 160- to 180-mille<br />
lion cubic feet daily is<br />
used to power two regional<br />
electri<strong>city</strong> plants in <strong>Erbil</strong><br />
and Chemchemal, accordie<br />
ing to the firms. <strong>The</strong>y say<br />
they have invested $850<br />
million in the project so<br />
far. That included building<br />
is rising at an impressive<br />
rate.<br />
Minister Muharam outle<br />
lined the locations and<br />
sectors ideal for Korean<br />
investment and comme<br />
mercial activity, inviting<br />
Korean firms to do more<br />
business with the Kurdiste<br />
tan Region. He said: “<strong>The</strong><br />
Kurdistan Region, as you<br />
may know, now engages<br />
in about US$12 billion<br />
per year in trade. Korean<br />
brands have earned an<br />
excellent reputation in<br />
this Region, and I want<br />
to emphasize that we will<br />
support your efforts to loce<br />
cate investment opportune<br />
nities here.” He added: “I<br />
encourage Korean firms<br />
to prepare proposals for<br />
further discussion, espece<br />
cially regarding our strate<br />
tegic projects.”<br />
Minister Bakir said:<br />
“<strong>The</strong> KRG desires a longterm,<br />
strategic relationse<br />
ship with Korea. We are<br />
pleased to see a marked<br />
increase in the presence<br />
<strong>of</strong> Korean private sector<br />
activity. I believe this is<br />
only the beginning. <strong>The</strong><br />
people and the governme<br />
ment <strong>of</strong> the Kurdistan<br />
Region look forward to<br />
a sustained partnership in<br />
diverse sectors.”<br />
Officials from several<br />
ministries also gave their<br />
a 110-mile (180-kilomete<br />
ter) pipeline across mounte<br />
tainous terrain, which at<br />
times required them to<br />
clear areas riddled with<br />
land mines.<br />
<strong>The</strong> Sharjah-based compe<br />
panies highlighted the<br />
support provided by the<br />
Kurdistan Regional Gove<br />
ernment, which has been<br />
successful in attracting fore<br />
eign business to its region.<br />
But many <strong>of</strong> those deals<br />
have caused friction with<br />
Baghdad because they <strong>of</strong>te<br />
ten bypass the oversight <strong>of</strong><br />
national ministries.<br />
Crescent's executive dire<br />
rector, Majid Jafar, said the<br />
Emirati companies' proje<br />
ects have delivered tange<br />
gible benefits to the counte<br />
try by boosting the north's<br />
electri<strong>city</strong> supply--a serve<br />
vice that remains spotty<br />
and scarce in much <strong>of</strong> the<br />
rest <strong>of</strong> Iraq. «This shows<br />
views at the forum, conte<br />
tributing to a lively exce<br />
change about commercial<br />
needs, opportunities, and<br />
mutual desire for further<br />
cooperation.<br />
<strong>The</strong> forum continue<br />
ued with a visit to <strong>Erbil</strong><br />
Chamber <strong>of</strong> Commerce<br />
and Industry for a matchmaking<br />
session with local<br />
companies interested in<br />
joint ventures and other<br />
collaboration. Korea’s<br />
Embassy Liaison Office<br />
in <strong>Erbil</strong> is led by M Dukhe<br />
ho Moon, who helped to<br />
organize the event. Represe<br />
sentatives from the Korea<br />
International Cooperation<br />
Agency, Korea National<br />
Oil Company, Incheon<br />
Airport, LG Internationae<br />
al, Daewoo Construction,<br />
SK Construction, and<br />
other companies participe<br />
pated in the forum.<br />
<strong>The</strong> Kurdistan Region<br />
and Korea have already<br />
established very good<br />
relations. Korean forces<br />
were based in the Kurdie<br />
istan Region from 2004-<br />
08 as part <strong>of</strong> the multinate<br />
tional force. During their<br />
four-year mission, the<br />
Zaytun Division provided<br />
vocational training, ran a<br />
hospital, and helped to<br />
build social infrastructure<br />
including schools and a<br />
library.<br />
Emirati firms to boost Iraqi<br />
Kurdistan gas capa<strong>city</strong><br />
what can be achieved by<br />
the private sector, even<br />
under difficult circumse<br />
stances, when the right<br />
policies and investment<br />
framework are adopted,»<br />
he said in a statement.<br />
Dana Gas and Crescent<br />
hope to eventually prode<br />
duce enough gas for expe<br />
port. <strong>The</strong> companies last<br />
year signed a deal with<br />
Austria's OMV AG and<br />
Hungary's MOL to export<br />
gas from the <strong>Kurdish</strong> rege<br />
gion as part <strong>of</strong> an $8 bille<br />
lion project. Some <strong>of</strong> the<br />
gas would be directed to<br />
the planned Nabucco pipele<br />
line linking Turkey to cente<br />
tral Europe, expanding the<br />
continent's energy supply<br />
options. Iraq's Oil Minie<br />
istry has called that deal<br />
illegal because it doesn't<br />
carry Baghdad's approval.