The oil-rich north of Iraq is seen as a safe, politically stable base for investors to establish a beachhead in the restructuring of the whole country.

While the world focuses on reconstructing and bringing stability to Baghdad, Kurdistan has remained relatively outside the current conflict and has been rebuilding steadily since 1991.

Although major uncertainties exist about what will happen in Baghdad after the transfer of power from the Coalition Provisional Authority in June, the KRG and its Kurdistan Development Corporation believe the northern region offers a stable and attractive investment opportunity.

In late May, the two Kurdish institutions are planning a major conference in London, which is due to be attended by the prime minister of Kurdistan, Nechirvan Barzani, Iraqi trade minister Ali Allawi and more than 200 Iraqi and Kurdish businessmen.

Given Iraqi Kurdistan’s abundant natural resources, the focus of the London conference will be on agribusinesses, construction and telecoms.

The estimated five million inhabitants of Iraqi Kurdistan represent a diverse but coherent ethnic group. The recent setting up of United Iraqi Airways with Kuwaiti investors, and the May conference demonstrate the Kurds’ determination to develop their autonomy in the north further, in co-operation, rather than in conflict, with Baghdad.