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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.

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