Iraq Procurement 2004 – ‘Meet the Buyers’
New Connaught Rooms
London, UK
26-28 April 2004

The Iraq Procurement initiative was recently launched, comprising a series of high profile events focusing on the importance of face-to-face meetings with key Iraqi business leaders and decision makers. Testimonials >>>

The reconstruction of Iraq is one of the biggest projects to have been undertaken since the Marshall Plan over 50 years ago. In May 2003, the UN Security Council provided the US and UK with a mandate to take control of Iraq and to use the revenue generated by the export of oil to rebuild the country. This move ended all economic sanctions imposed on Iraq since the Gulf War in the early nineties. The reconstruction of Iraq’s infrastructure is planned to begin in earnest over the next five years at a cost of more than $100 billion. At least half of this figure will account for projects to be sub-contracted to outside companies.

The Iraq Procurement initiative focuses on the need to procure a host of basic essentials to aid in rebuilding Iraq’s infrastructure; on a humanitarian level the aim is to provide the country with crucial medical supplies (through the involvement of corporations such as Orex, GlaxoSmithKline, Pfizer and Novo Nordisk) and agricultural tools and services (Agco and Dupont). Priority is also given to the re-establishment of infrastructure such as electricity and water – amenities that have suffered 25 years of neglect.

Iraq Procurement 2004 – ‘Meet the Buyers’ took place on 26-28 April. Over 200 companies and organisations from around the world gathered to discuss the wide range of economic opportunities available. The event was open to interested businesses and organisations from all countries, immediately following the awarding of up to $18.4 billion in contracts from the US Congress and prior to the handover from the Coalition Provisional Authority (CPA) to the new Iraqi government on 30 June.

Iraq Procurement 2004 – ‘Meet the Buyers’' was geared around a series of scheduled ministerial meetings, which took place between company delegates and a strong representation from Iraqi ministries, including agriculture, communications, construction and housing, electricity, health, interiors, science and technology, trade, transport and water resources. The Central Bank of Iraq, the Iraqi Board of Tourism and the Governor of Basra were also there to share knowledge. A series of ministerial briefings took place on the opening day of the event, where ministers and representatives spoke to corporate delegates about the needs of their respective ministries now and in the future.

Ministry of Health - PowerPoint presentation
Ministry of Trade - PowerPoint presentation

Keynote addresses

A number of keynote addresses were given during the event. The opening morning saw an address by the Rt Hon Brian Wilson MP, the UK's special representative on trade and reconstruction, who provided details on the work of the UK government in the reconstruction process and spoke of how it aimed to help UK companies participate further in the process.

Mr Wilson was followed by Judge Wael A. Al-Fadlel, Governor of Basra and a member of the Iraqi Governing Council (IGC), who spoke of the need for the forming of trade partnerships to aid the reconstruction process, and Dr Latif J. Rashid, Minister of Water Resources in Iraq, who provided an insightful overview of the situation in Iraq and the need to procure regular supplies of goods and services. The final address of the morning was by H. Mahmood J. Al Bunnia & Sons Company (HMBS), who delivered a presentation on the crucial need for Iraqi companies to directly connect with international businesses following years of centralised purchasing and sanctions.

The second day was host to presentations from Larry Crandall, USAID deputy director to the Program Management Office (PMO) of the Coalition Provisional Authority (CPA), who alerted delegates to recent developments and current operations with the PMO, followed by Joseph V. Schwan of the US Department of Commerce, who provided an overview of the current investment climate in Iraq.

H. Mahmood J. Al Bunnia & Sons Company (HMBS) -
PowerPoint presentation
Larry Crandall, USAID Deputy Director, Program Management Office (PMO) - PowerPoint presentation

Running alongside the scheduled ministerial meetings were the 'Meet the Buyers' sessions, where leading Iraqi business families and sub-contractors were available to meet face-to-face with company delegates to share information, ideas and exchange thoughts on making Iraq a stable, prosperous and reformed country. These meetings were allocated into 15-minute timeslots, with a specially organised scheduling session taking place on the opening afternoon.

Expert seminars

Over the final two days, a series of expert seminars took place, presented by internationally respected businesses such as JP Morgan Treasury Services, BPL Global, Control Risks Group, along with organisations such as the Arab-British Chamber of Commerce and the Arab-Portuguese Chamber of Commerce. These seminars covered a wide range of issues, including banking, insurance, credit management, risk assessment, prime contracts and sub-contracting opportunities, commercial advice and legal issues.

Insurance Issues in Iraq - PDF presentation
International credit management - Prevention is better than cure - PowerPoint presentation
Status of Prime Contracts and sub-contracting opportunities -
Word presentation
Update on the new Trade Bank of Iraq - PowerPoint presentation

Media coverage

The event, the first of its kind to be held in the UK, generated extensive global interest. Originally billed as an opportunity for UK companies to become more involved in the Iraq rebuilding process, it transpired that many of the US companies were quickest, grasping the potential business benefits of attending the event and securing early registration. Places sold out a month prior due to high demand.

What the international media have said about Iraq Procurement 2004 – ‘Meet the Buyers’ - Arabic

Summary

Iraq Procurement 2004 – ‘Meet the Buyers’ overcame many of the current difficulties preventing suppliers from entering Iraq - and indeed the difficulties in bringing the delegation out of Iraq - to arrange meetings with key Iraqi personnel. Although a minor political protest took place – those opposed being perfectly within their rights to express their views – the intention of the event was to aid in rebuilding the country and to create opportunities for Iraq to re-establish trading links with the rest of the world, something that needs to happen quickly, regardless of any debate over last year’s conflict or the rights and wrongs of any particular regime.

The event proved invaluable to all those who attended, with planning now well underway for a follow up, allowing those who were unable to attend London’s event to gain access to the key individuals and provide those who did attend with an opportunity to broaden their contact base in Iraq and secure procurement contracts. Next Event >>>