Australia Committed Long-Term to Iraq’s Reconstruction

Trade Minister Mark Vaile today said reconstruction efforts in Iraq were making steady progress despite attempts to disrupt the process. Iraq’s economy has demonstrated rapid economic growth so far this year with crude oil exports of 1.7 million barrels per day making a strong contribution to the Iraqi budget.

“As part of Australia’s commitment to assisting the people of Iraq rebuild their country, we are jointly hosting today with the United States an Iraq Reconstruction Conference.

“I am also announcing the appointment of a new Austrade Trade Commissioner for Iraq.

“Austrade’s new Trade Commissioner, Greg Hull, will start work in Baghdad next week. He will provide on-the-ground advice and expertise to help Australian companies build on our rapidly expanding trade profile with Iraq.

“In the past month prime contracts worth more than US$5 billion have been awarded to US and other international firms for infrastructure reconstruction work in Iraq. Much of this work will be subcontracted, which presents a major opportunity for Australia.

“This Iraq reconstruction conference brings together representatives of four of the successful prime contractors to outline their project needs to Australian suppliers.

“While there are considerable opportunities for Australian companies, no one is under-estimating the challenges involved. Our companies are making hard-headed assessments of the opportunities, balanced against the risks and, importantly, Iraq’s need for assistance.

“Australian companies are already making a significant contribution to post-war humanitarian relief and reconstruction in Iraq and there is no reason why this should not continue.

“Since the end of major hostilities last May, Australian companies have won contracts, totalling around A$1 billion, in agriculture, environmental rehabilitation, electricity distribution, finance and economic policy. Four weeks ago, AWB Limited beat strong international competition to secure a World Food Programme tender to export 460,000 tonnes of wheat to Iraq.”

Media contact: Matthew Doman, Minister's Office: + 61 2 6277 7420 or Jemima Lohse, Austrade + 61 2 9390 2703