The Iraq Britain Business Council (IBBC) in partnership with the Syria Britain Business Council (SBBC) held a successful Middle East Business Reception at Mansion House in London on 6 October, bringing together leading businesses and representatives of business organisations from across the Middle East.

The main objective of the reception was to encourage more British and international companies to explore business opportunities in Iraq and Syria, and to attract new businesses to work in either or both countries. The event also provided an opportunity to strengthen business relations across the wider region, establish new contacts and launch a new regional initiative, ‘Synergy’.

Earlier in the day, both councils organised seminars for reception attendees to provide practical information on doing business in the two countries. IBBC hosted a ‘Doing Business in Iraq’ seminar at the offices of international law firm Quinn Emanuel Urquhart & Sullivan, LLP, while SBBC held a ‘Doing Business in Syria’ seminar at White & Case. These seminars formed part of the councils’ efforts to encourage British and international companies to enter or expand their operations in Iraq and Syria.

The reception was held with the support of the Middle East Association, the Arab British Chamber of Commerce, the Arab Bankers Association, the British Chambers of Commerce in Turkey, Qatar and Dubai, the UAE-UK Business Council, the Jordan British Business Council, the British Lebanese Chamber of Commerce and the Saudi British Joint Business Council.

The reception also received support from Dr. Yousif Khalaf al-Dunainawi, Chairman of the Iraqi Prime Ministers Advisory Commission (PMAC) and H.E Dr. Saleh Al-Tamimi, Ambassador of the Republic of Iraq to the UK, who both attended the reception.

Baroness Nicholson of Winterbourne, President of IBBC and Vice Chair of SBBC, welcomed attendees. She was joined by David Hunt of the FCDO, who outlined the extent of British business engagement across the region.

Ms Batoul Husseini, a member of the IBBC Executive Committee, spoke about the work undertaken by IBBC members in Iraq and introduced the new ‘Synergy’ initiative, which aims to strengthen business cooperation between Iraq, Syria and their neighbours.

Mr Raed Mahmoud of SABIS, an Executive Committee member of both IBBC and SBBC, is working with Dr Lina Khatib of the IBBC and SBBC Advisory Councils to develop this initiative.

Mr Mounzer Nazha, Chair of the SBBC Executive Committee, spoke about the opportunities emerging in Syria and the rapid growth of the Council. Mr Christophe Michels, Managing Director of IBBC and SBBC, outlined the work of both councils and invited companies to join their growing membership.

Mr Mahdi Al-Mousawi, CEO of the evening’s sponsor, Rowwad Al-Qimma (RQC), also addressed guests, discussing the company’s involvement in the Karbala refinery in Iraq. IBBC and SBBC would like to thank Mr Al-Mousawi and his team for their generous support in making the evening a success.

The Synergy initiative will initially focus on developing tourism opportunities across Iraq, Syria, Lebanon and Jordan. It is expected to expand into other sectors, including logistics, energy and education, with the aim of encouraging cross-border trade and investment. We were also pleased to present this initiative in the presence of Eng. Mr. Yousef Kiblawi, CEO of the Syrian Petroleum Company, who we hope will be able to facilitate elements of the Synergy initiative.

The initiative seeks to support the development of stronger economic links between the Gulf and the Mediterranean, including the potential for a new overland trade corridor connecting the countries of the region. Companies interested in participating in Synergy are invited to contact IBBC or SBBC.

Mr Christophe Michels said:

“Our Iraq and Syria business councils are delighted with the turnout of leading businesses from across the region. Our principal aim is to encourage more British and international companies to do business in Iraq and Syria, where we see considerable opportunities for trade and investment. We also want to strengthen economic links across the wider region, bringing companies together, encouraging new partnerships and building on the historic trading connections between the Gulf and the Mediterranean.”

IBBC and SBBC would also like to extend special thanks to Chris Gaunt OBE and his team at the British Chamber of Commerce in Turkey (BCCT) for their support from the outset in developing this event.

IBBC signed a Memorandum of Understanding with BCCT to strengthen cooperation between the two organisations and encourage closer business relations in the years ahead.