BAGHDAD, IRAQ (September 20, 2004) – U.S. Government support for the Interim Iraqi Government as it faces immediate economic challenges was the focus of the inaugural meeting of the U.S.-Iraq Joint Economic Commission (JEC) held this past weekend in Baghdad.  USTDA Chief of Staff and Senior Advisor to the Director Carl B. Kress represented the agency as part of the U.S. delegation, which was led by Under Secretary of State for Economic, Business, and Agricultural Affairs Alan P. Larson.

The inaugural JEC Meeting was the first major bilateral economic policy event between Iraq and the United States.  There was broad interagency participation on both sides to discuss both urgent and medium-term reform and reconstruction issues.  During the meeting, Mr. Kress stressed USTDA’s interest in expanding the agency’s role in supporting Iraq’s development. 

“USTDA is committed to working with strong partners to promote economic growth in Iraq,” said Mr. Kress at the conclusion of the meeting.  “This meeting has helped to increase awareness about the availability of USTDA’s programs to assist Iraq in furthering its development.  We look forward to working with Iraqi organizations on projects they identify as priorities in the reconstruction effort.”

Other participating U.S. Government agencies in the U.S. delegation included the Office of the U.S. Trade Representative, the National Security Council, the Department of Treasury, the Export-Import Bank of the United States, and the Overseas Private Investment Corporation.  Iraqi participation included officials from the Ministries of Finance, Trade, Planning and Developmental Cooperation, Foreign Affairs, and Oil; the Central Bank of Iraq; and the Trade Bank of Iraq.

Since launching its program in Iraq in early 2004, USTDA has funded numerous activities, including orientation visits (OVs) to the United States for Iraqi officials in the transportation and private banking sectors.  Other OVs in the oil and gas, housing/construction, and e-learning sectors have been approved and will take place in the next few months.  The agency is also funding training programs in accounting, telecommunications and inventory management for Iraqi public and private sector delegates.  Funds are also approved for a feasibility study on the establishment of a Women’s Training Center for Information and Communications Technology in Baghdad. 

 The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries.  The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment.  USTDA’s strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development.  In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.