Biggest-Ever Japanese Team Joins Iraq Economic Forum in Baghdad

Biggest-Ever Japanese Team Joins Iraq Economic Forum in Baghdad

January 7, 2010

A Japanese group consisting of around 100 public and private sector members, the biggest of its kind since the 2003 Iraq War, met Sunday with Iraqi government officials at Baghdad International Airport to deepen bilateral economic ties and promote Japanese investment in the war-torn country, the Japanese news agency (KYODO) reported.

The second Japan-Iraq economic forum meeting comes as Japan is lagging behind the United States, European countries and China in the reconstruction of Iraq, which possesses with the world’’s third-largest proven crude oil reserves. ””The Iraqi economy is rapidly developing and promoting the improvement of the investment environment,”” Iraqi Prime Minister Nouri al-Maliki said at the outset of the meeting. ””We want Japan to use its experience of rehabilitation from the World War II.”

Japan is hoping that the meeting will provide an opportunity for it to promote its entry into the Iraqi economy and Iraq is aiming to lure more investment from Japan, forum sources said. The Japanese team includes State Secretary for Foreign Affairs Koichi Takemasa, Senior Vice Minister of Economy, Trade and Industry Tadahiro Matsushita, and Fumiaki Watari, chairman of Nippon Oil Corp. who also serves as vice chairman of the Japan Business Federation, Japan’’s biggest business lobby. In addition to the prime minister, senior Iraqi officials met with the Japanese team in an airport waiting lounge under tight security.

The first forum meeting was held in July 2008 in Amman, the capital of Jordan, for security reasons, with around 250 people from Japan and Iraq participating.