Event 3 Report: Regional Business Initiative - Expanding Trade and Economic Cooperation among Jordan, Iraq and the West Bank

The program, initially a one-year initiative, was extended until December 2012 with additional resources and an added scope. The program is funded by USAID's Office of Middle East Programs and implemented by SEGURA Partners LLC. Key partners in the project include the American Chamber of Commerce in Jordan, USAID Missions in Iraq, West Bank/Gaza, and Jordan, and the Missions' respective Economic Growth programs and implementing partners. The program's main objective is to bring together stakeholders from Jordan, the West Bank, and Iraq to develop specific action plans to address constraints to increased regional trade. The first event of the program was held in Amman, Jordan on December 14-16, 2010, and the second event was held on July 11-13, 2011 in Amman, Jordan. The third event, summarized in this report, was held in Erbil, Iraq on June 19-21, 2012. The decision to hold the third event in Erbil was based on recommendations from participants in the past two events, as well as suggestions from USAID bilateral Missions. The third event focused on creating business-to-business connections among participants from Jordan, the West Bank, and Iraq, and identifying policy issues related to trade that could be addressed by the Regional Business Initiative. The event aimed to improve the perception of Iraq for Palestinian and Jordanian businesses, as a place where attractive economic opportunities can be pursued in a safe environment. The event also aimed to bring Palestinian and Jordanian expertise in specific sectors to a region where they are still underdeveloped, to encourage mutually beneficial collaboration. The event brought together 45 participants, including business representatives from 26 companies, 3 trade associations, and 3 government agencies. The sectors targeted for the third event included ICT, Pharmaceuticals, Agriculture Technology, Food Processing, Health Services, Olives, and Stone and Marble. The event resulted in the creation of business-to-business connections among participants, and identified policy issues related to trade that could be addressed by the Regional Business Initiative. The Regional Business Initiative has made significant progress in promoting trade and economic cooperation among Jordan, Iraq, and the West Bank. The program has created a platform for businesses and government officials to discuss potential exchanges and address main obstacles to trade and joint business activities. The program has also helped to improve the perception of Iraq for Palestinian and Jordanian businesses, and has encouraged mutually beneficial collaboration among participants. The program's success can be attributed to the strong partnerships between USAID, SEGURA Partners LLC, and key stakeholders from Jordan, Iraq, and the West Bank. The program's focus on creating business-to-business connections and identifying policy issues related to trade has been instrumental in promoting trade and economic cooperation among the participating economies. The program's continued support and funding from USAID have enabled it to achieve its objectives and make a positive impact on the region. The Regional Business Initiative has also identified several challenges that need to be addressed in order to promote trade and economic cooperation among Jordan, Iraq, and the West Bank. These challenges include the need for improved infrastructure, the need for increased investment in human capital, and the need for more effective trade policies and regulations. The program has made recommendations to USAID bilateral Missions on future trade-related programming, and has provided a platform for stakeholders to discuss and address these challenges. Overall, the Regional Business Initiative has made significant progress in promoting trade and economic cooperation among Jordan, Iraq, and the West Bank. The program's continued support and funding from USAID have enabled it to achieve its objectives and make a positive impact on the region.