Armenian companies required to pay USD 100 thousand deposit to work in Iraq

Armenian companies have been given the opportunity to take part in reconstruction work in Iraq, according to the US and Armenian embassies.

Citizens of Armenia are invited to work in Iraq in local and international organizations. To participate in reconstruction work in Iraq, Armenian companies are offered to sign agreements with USAID and the US Department of Defense's Corps of Engineers. Small and medium-sized businesses are also required to make a deposit of USD 100 thousand in any Iraq bank before they are eligible to begin operations. In addition, foreign companies have the right to rent land in Iraq for a period of up to 40 years.

Armenia was not originally one of the countries permitted to participate in reconstruction work in Iraq because it did not support the anti-Iraq military coalition's operation. After the war, however, the Armenian Ministry of Foreign Affairs changed its policies to more closely resemble the US position. At the present time negotiations are being conducted to send Armenian military doctors and combat engineers to Iraq.