Washington: Iraq offers investment opportunities for American companies

The U.S. Department of State confirmed today, Friday, that the Iraqi market represents a promising business opportunity for American companies and exporters.

The Department stated in a statement reviewed by "Video News Agency" that government contracts, especially in the energy sector, provide areas for commercial and investment expansion, despite the regulatory challenges facing the business environment in Iraq.

It added that Iraq is seeking to attract foreign investments and enhance local industries, which requires addressing regulatory obstacles and improving the business environment to contribute to economic activity expansion and increase trade cooperation opportunities with international companies.

The U.S. Department of State emphasized that Iraq's accession to the World Trade Organization necessitates substantial regulatory reforms, which will help create a business environment for broader integration into the global trading system.