June 2010

Spotlight – In international business, almost every market around the world does things in a different way. This often leads to misunderstandings and unfulfilled expectations. However, different does not need to mean difficult and knowledge of the needs and characteristics of specific geographic markets is an advantage to those who are active in the global economy. These articles help you understand different aspects of the insurance industry around the world, enabling those who do business there to feel more “at home, abroad.”

During the last few months the world’s focus on Iraq and related security issues has drifted towards Afghanistan where the papers tell us that the Americans will pull out in 2011 but people in the know say that a withdrawal will not happen. Basking happily under the radar is the northern Iraqi region made up of three provinces: Kurdistan. An autonomous region in federal Iraq, it borders Syria, Iran and Turkey and is about the same size as the Netherlands but with less than a quarter of the population. The Kurdistan Regional Government is very active in promoting the region and recently the High Representative to the UK arranged a briefing hosted by the Middle East Association in London to enable the many interested parties to understand life and business in the region, what are the needs, misconceptions, true potential and success stories. We are grateful to Ms Bayan Abdul Rahman for the invitation to join this event (bayan.rahman@krg.org telephone +44 (0)20 7170 4300 www.krg.org), the providers of the attached presentations, Federal Development & Contracting Co Ltd, Sulaimani (Mr Baisaran Naqshbandy, besaran.naqshbandy@federaldc.com www.federalc.com) and Heritage Oil Plc, London (Ms Tanya Clarke, tanya.clarke@heritageoilplc.com www.heritageoilplc.com) as well as EIC Risk Consulting (www.eicriskconsulting.com and www.eiccm.com) for their support in putting this article together.

Click here for the presentation of Heritage Oil. Send us an e-mail to receive the presentation of Federal.