Baroness Nicholson of Winterbourne hosted IBBC’s bi-annual Council Meeting at the House of Lords on Monday 14 March. The meeting was one of its most well-attended yet, with 33 members and IBBC staff in attendance.

One of the main messages that Baroness Nicholson, IBBC’s Executive Chairman, wanted to members to take from the meeting is that IBBC is dedicated to doing what it can to help its members succeed. She invited them to raise concerns and offer suggestions on ways IBBC can improve or change its offering to reflect the challenging conditions in Iraq and deliver more value for member companies. Moving IBBC’s Autumn Conference to Dubai and hosting the KRI-themed London Business Forum in January are two changes and initiatives that have been implemented following feedback from members.

Baroness Nicholson also updated members on trips she made to Iraq in her capacity as UK Trade Envoy to Iraq and Chairman of AMAR since the last Council Meeting in July 2015, noting that she met with IBBC members during these visits. Baroness Nicholson highlighted her trip to Basra to participate in BP’s celebrations of the fifth anniversary of the Rumaila Operating Organisation. She also visited Thi Qar, Maysan, Erbil, Dohuk and Amarah provinces. On another trip to Basra for AMAR business, she hosted a dinner attended by a small group of IBBC members.

Baroness Nicholson also noted that she has hosted a number of events in London for visiting officials from iraq, including the Speaker of the Iraq Parliament; Iraq’s Ambassador to the UK, H.E. Dr Salih Husain Ali; senior National Security officials; and Foreign Minister Dr Ibrahim Al-Jaafari.

The chairmen of IBBC’s sector tables also reported on their respective sector tables. Weir Group’s Vikas Handa, Chairman of the Oil and Gas Sector Table (OGST), said issues with payments and liquidity are two challenges currently affecting oil and service companies in Iraq. He predicted that the market will improve by the end of the year.

OGST member Hans Nijkamp of Shell added that the oil price and ISIS are two other issues the sector is struggling with. He also stated that the Government of Iraq is looking into restructuring its oil contracts, which will help unlock credit and keep things moving until the oil price picks up.

PwC’s Alistair Kett, Chair of the Finance and Professional Services Sector Table (FPST) meeting, said that although Iraq remains a difficult environment to work in, there are still opportunities available in the country. He added that there are spikes in different sectors – security companies and law firms are receiving a good stream of work, while accounting firms were experiencing a downturn at present.

Meanwhile, Dr Alastair Niven, IBBC’s Associate Director, reported on the activities of the Education, Training and Heritage Sector Table (ETHST), which he chairs. He announced that IBBC is currently piloting a mentorship scheme in Newcastle, which will allow PhD students from Iraq to gain experience in a large commercial company, giving them the necessary skills to work at a similarly sized company once they return to Iraq or start their own business. He added that a Women’s Group has been launched and will be chaired by G4S’ Angelique Lecorps. Plans are also underway to establish a poetry prize. However, commercial sponsorship for the prize and a small fee to give to the judges is required before it can be launched.

Construction and Infrastructure Sector Table (CIST) member Bob Phillips of Mott MacDonald delivered an update in the absence of Chairman Hani Akkawi. He said that 2016 is very much a year of survival for companies operating in Iraq, noting that fewer new contracts are being issued in the construction sector, and contracts that are being issued are below cost.

A dinner hosted by Baroness Nicholson at the Cholmondeley Room and Terrace in the House of Lords was held following the meeting. Iraq’s Ambassador to the UK, H.E. Dr Salih Husain Ali, and other representatives from the Embassy of the Republic of Iraq in London also attended the dinner, along with other members and friends of IBBC. Baroness Nicholson also presented a gift to long-standing IBBC member and outgoing member of its Executive Committee Hans Nijkamp at the dinner.

The next Council Meeting will be held on Saturday 9 July at Cumberland Lodge during IBBC’s annual weekend retreat.