The present situation in iraq

The Iraq's general condition, including economic and political condition is bad[1]. During the years Saddam Hussein's dictatorship, there was a great dramatic fall of its economy. It was mainly due to the war Hussein aggressively started against Kuwait.  When US and British troops motivated in invading Iraq, which soon caused his defeat, its economic condition became even poorer. Sending powerful armed forces to fully disarm the Iraqi President Hussein was a big historical success but its remnants were a nightmare. The damage caused by the war made the entire population suffer. Everyone faced the same very difficult conditions. Lots of resources, agricultural and other land areas have been damaged.

Recently, it appeared on the news[2] that there is a vague clue of reconciliation in Iraq. It says, “Leaders of the main factions have haggled over issues behind closed doors and urged Parliament to pass some conciliatory measures.” Although there is a temporary ceasefire, still the Iraqi leaders, as well as their supporters in the greater Middle East, have so many unfinished settlements on peace agreement.

Seeing the present situation in Iraq, the answer to the question regarding new opportunities in the country is indistinguishable.

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By year 2006, Iraq is fourth[3] on the rank of the greatest oil reserves in the world. While, the current state of DWI is in Syria and in China, having oil reserves of 2.5 billion barrels and 18.3 billion barrels, respectively.[4] In comparison, Iraq has 115 billion barrels of oil deposit. With this much amount of difference, it is very tempting to venture any oil business in the area. It’s clear to have a predictable rise on the DWI revenue if it would have its development in Iraq. This would also give out opportunities to workers to have better compensation. However attempting to expand market share in Iraq would be too risky. Sending groups of people to work for the company in a particular chaotic place is very unethical.

This is the primary reason United States law and U.N Sanctions barred any entry of business in Iraq. If DWI would insist to put in their business in the country, they would have to seek support from the US government first. Another option would be to have dealings with country’s parliament. Even if DWI would have settled with the US government or the parliament issues of Iraq, there is still no guarantee of a long-term settlement because the situation among them is even not fixed yet. Lots of deliberation is still going on among Iraqi leaders, and also between the Iraqi leaders and the US government as well. Thus any business dealings with the country these days are still unreliable. The best suggestion would be to wait for the time when there would be a secured peace in Iraq.

References:

Kjeilen, Tore. (Copyright 1996-2008). Looklex Encyclopedia. "Iraq: The Iraqi Republic".

Retrieved April 07, 2008 from

http://i-cias.com/e.o/iraq.htm.

Mahdi, Kamil A. (2003). Iraq's Economic Predicament. United Kingdom: Ithaca Press.

Nafzinger, Wayne E., Frances Stewart, and Raimo Vayrynen.(2002).War, Hunger, and

Displacement: The Origins of Humanitarian Emergencies       New York: Oxford Press.

[1] Kjeilen, Tore, "Iraq: The Iraqi Republic", Looklex Encyclopedia,http://i-cias.com/e.o/iraq.htm, Accessed 07 April 2008.
[2] Taken from "Overview: The Iraq War" The New York Times, http://www.nytimes.com/ref/timestopics/topics_iraq.html#1, Accessed 08 April 2008.
[3] Based from "Greatest Oil Reserves by Country, 2006", HighBeam Research, LLC. © Copyright 2005, http://www.infoplease.com/ipa/A0872964.html, Accessed 08 April 2008.
[4] Mentioned in "Syria:Energy and power", http://www.nationsencyclopedia.com/Asia-and-Oceania/Syria-ENERGY-AND-POWER.html, Accessed 08 April 2008.

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