UK minister leads trade mission to Iraq

Baghdad: Britain's business minister Peter Mandelson-headed high-profile group of British companies visiting Baghdad on Monday, underscoring the huge deal-making potential of the oil-rich country.

The visit is a further sign of London's desire to normalise relations with Baghdad as Britain pulls its troops out of southern Iraq over the coming months, six years after the US-led invasion that ousted Saddam Hussein.

"Iraq is potentially a wealthy country at the centre of a regional market of over 200 million people, with the third largest reserves of oil in the world, large gas reserves, fertile agricultural land, and a skilled and educated work force," Mandelson was quoted as saying in an introductory pamphlet.

"The country is in desperate need of renewal to capitalize on its huge potential and to bring jobs and prosperity to the Iraqi people," he said.

Mandelson's visit came as series of rush-hour car bombings hit Baghdad, killing at least 32 people and wounded 130 others, according to law enforcement officials.

Advertisement

Among the companies represented in the delegation are some of the giants of British business, including BP, Shell, HSBC, Glaxosmithkline, Rolls Royce and oil services firm the Wood Group.