MANY companies are looking to internationalise, whilst others wish to expand their international footprint.
International trade has always been a focus for this Chamber and for many of our members.
So far this year, we have welcomed around 600 delegates to international seminars and lunch n learn events.
We aim to give a balanced overview of doing business in international markets and last Friday (May 13) Iraq Britain Business Council (IBBC) representatives, members KCA Deutag and Control Risks, and UK Trade Envoy for Iraq Baroness Nicholson of Winterbourne alongside Donna Hutchison, Quensh Specialists (sponsors of the event) delivered on this aim.
Representatives from 30 local businesses attended and learned about Baroness Nicholson’s role as trade envoy, the opportunities available and how she can help UK businesses enter the Iraqi market.
An outline of how the IBBC works and helps businesses, first-hand experiences of entering and operating in the country, advice on how to evaluate and manage risk and an account of some of the administrative challenges an SME needs to overcome when setting up a business in Iraq were also covered.
Arabic is a beautiful language and it was good to hear it spoken by Mr Akeel Al Khalidy, owner of South Group Corporation and head of the Basrah Investment Commission, who outlined the major parallels between Basrah and Aberdeen in Arabic as Toby Chinn from Control Risks translated.
Some takeaway advice from Richard Cotton of IBBC:
“A tip for newcomers to Iraq is to explore the procurement departments of the IOC's and to get registered with them, this can be done online and is the best, easiest, cheapest and quickest way of finding out what the rules for doing business in Iraq are - and the IOCs are looking for new suppliers as they push down costs."
- Iraqi businesses wish to work with businesses in the North-east of Scotland and to help facilitate links, we will be welcoming an inward delegation from Iraq in Spring 2017. Contact me for more information.