News / Middle East

US, Iraq Move Forward to Strengthen Trade Ties

A worker adjusts a pipe at the Nassiriya oilfield in Nassiriya, southeast of Baghdad, Iraq, Sep. 8, 2012.
A worker adjusts a pipe at the Nassiriya oilfield in Nassiriya, southeast of Baghdad, Iraq, Sep. 8, 2012.
Reuters
An agreement between the United States and Iraq to boost trade and investment ties is expected go into force later this year, eight years after it was negotiated, the U.S. Trade Representative's office said on Wednesday.

U.S. companies in the energy, defense, information technology, automotive and transportation sectors in recent years have become increasingly active in Iraq, which the United States invaded 10 years ago this month.

The United States and Iraq negotiated a Trade and Investment Framework Agreement (TIFA) in 2005 to create a government-to-government forum to discuss how increase trade and investment flows between the two countries.

The Iraqi parliament finally ratified the TIFA text in December, and the two sides firmed up plans to proceed with the forum in meetings this week in Baghdad.

"After an exchange of diplomatic notes brings the TIFA into force later this year, the first meeting of the Joint Council for bilateral consultations on trade and investment issues can take place in 2014," USTR said.

Two-way trade between the United States and Iraq in 2012 was $21.3 billion, with U.S. exports to Iraq at $2.04 billion, and Iraqi exports to the United States at $19.3 billion, most of that oil.

Last week, the United States and Afghanistan held their seventh TIFA meeting since 2004 to discuss a number of initiatives, including the war-torn country's hopes of joining the World Trade Organization by the end of 2014.

In another move aimed at building U.S. trade ties with the Muslim world, U.S. Trade Representative Ron Kirk announced on Sunday plans that should allow more Egyptian companies to qualify for duty-free treatment on exports to the United States as long as they use inputs from Israel.

Kirk said he planned to liberalize the designation of existing "Qualifying Industrial Zones" in Egypt to make all production facilities, present and future, in the zones potentially eligible for duty-free treatment.

"Egypt's and Israel's desire to add new features to their joint QIZ program underscores the success of the program in fostering closer ties between the people, businesses and governments of these two countries," Kirk said.

You May Like

DRC Tries Mega-Farms to Feed Population

Park at Boukanga Lonzo currently has 5,000 hectares under cultivation, crops stretching as far as eye can see, and is start of ambitious large-scale agriculture plan More

Video Survivor Video Testimonies Recount Horrors of Guatemalan Genocide

During a conflict that spanned more than three decades, tens of thousands of indigenous Mayans were killed More

Video War, Drought Threaten Iraq's Marshlands

Areas are spawning ground for Gulf fisheries, a resting place for migrating wildfowl, source of livelihood for fishermen and herders who have called the marshes home for generations More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Nobel Prize Winner Malala Talks to VOAi
X
August 31, 2015 2:17 AM
Nobel Peace Prize winner Malala Yousafzai met with VOA's Deewa service in Washington Sunday to talk about women’s rights and unveil a trailer for her new documentary. VOA's Katherine Gypson has more.
Video

Video Nobel Prize Winner Malala Talks to VOA

Nobel Peace Prize winner Malala Yousafzai met with VOA's Deewa service in Washington Sunday to talk about women’s rights and unveil a trailer for her new documentary. VOA's Katherine Gypson has more.
Video

Video War, Drought Threaten Iraq's Marshlands

Iraq's southern wetlands are in crisis. These areas are the spawning ground for Gulf fisheries, a resting place for migrating wildfowl, and source of livelihood for fishermen and herders. Faith Lapidus has more.
Video

Video Colombians Flee Venezuela as Border Crisis Escalates

Hundreds of Colombians have fled Venezuela since last week, amid an escalating border crisis between the two countries. Last week, Venezuelan President Nicolas Maduro ordered the closure of a key border crossing after smugglers injured three Venezuelan soldiers and a civilian. The president also ordered the deportation of Colombians who are in Venezuela illegally. Zlatica Hoke reports.
Video

Video Rebuilding New Orleans' Music Scene

Ten years after Hurricane Katrina inundated New Orleans, threatening to wash away its vibrant musical heritage along with its neighborhoods, the beat goes on. As Bronwyn Benito and Faith Lapidus report, a Musicians' Village is preserving the city's unique sound.
Video

Video In Russia, Auto Industry in Tailspin

Industry insiders say country relies too heavily on imports as inflation cuts too many consumers out of the market. Daniel Schearf has more from Moscow.
Video

Video Scientist Calls Use of Fetal Tissue in Medical Research Essential

An anti-abortion group responsible for secret recordings of workers at a women's health care organization claims the workers shown are offering baby parts for sale, a charge the organization strongly denies. While the selling of fetal tissue is against the law in the United States, abortion and the use of donated fetal tissue for medical research are both legal. VOA’s Julie Taboh reports.
Video

Video Next to Iran, Climate at Forefront of Obama Agenda

President Barack Obama this week announced new initiatives aimed at making it easier for Americans to access renewable energy sources such as solar and wind. Obama is not slowing down when it comes to pushing through climate change measures, an issue he says is the greatest threat to the country’s national security. VOA correspondent Aru Pande has more from the White House.
Video

Video Arctic Draws International Competition for Oil

A new geopolitical “Great Game” is underway in earth’s northernmost region, the Arctic, where Russia has claimed a large area for resource development and President Barack Obama recently approved Shell Oil Company’s test-drilling project in an area under U.S. control. Greg Flakus reports.
Video

Video Philippine Maritime Police: Chinese Fishermen a Threat to Country’s Security

China and the Philippines both claim maritime rights in the South China Sea.  That includes the right to fish in those waters. Jason Strother reports on how the Philippines is catching Chinese nationals it says are illegal poachers. He has the story from Palawan province.
Video

Video China's Spratly Island Building Said to Light Up the Night 'Like A City'

Southeast Asian countries claim China has illegally seized territory in the Spratly islands. It is especially a concern for a Philippine mayor who says Beijing is occupying parts of his municipality. Jason Strother reports from the capital of Palawan province, Puerto Princesa.
Video

Video Ages-old Ice Reveals Secrets of Climate Change

Ice caps don't just exist at the world's poles. There are also tropical ice caps, and the largest sits atop the Peruvian Andes - but it is melting, quickly, and may be gone within the next 20 years. George Putic reports scientists are now rushing to take samples to get at the valuable information about climate change locked in the ice.

VOA Blogs