Average Outlook

Published October 18th, 2000 - 02:00 GMT

While nearly 10 years of internationally imposed sanctions have suffocated the Iraqi society and inflicted significant suffering on the country's population, foreign corporations continue to be enticed by this potentially fruitful market. It appears evident that the economic blockade and steady air strikes, which attempted to strengthen opposition elements and topple Saddam’s regime, have fallen far short of their objectives. Despite years of neglect to its oil industry, mounting prices have only enhanced the value of Iraq's bountiful energy reserves. Preparing for the day when international economic sanctions are lifted, numerous international corporations are now positioning themselves to gain a strong foothold in this potentially promising market.  

© 2000 Mena Report (www.menareport.com)

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