Iraqi PM inaugurates Baghdad international fair

Iraqi Prime Minister Nuri al-Maliki inaugurated Tuesday the 38th Baghdad International Fair in the Iraqi capital with the presence of 18 countries and hundreds of foreign and local companies. "We need to change all economic legislation as they are not suitable to the changes that occurred in Iraq, which is heading to the market economy," Maliki said in the inauguration ceremony of the fair in western central Baghdad. He said that his government has been amending any law that may hamper investment of foreign companies in Iraq and "that's what happened when we achieved the investment law in 2006, which has been amended in 2010." Maliki stressed on the need to issue more laws and regulations that could ensure the interests of foreign companies wishing to invest in Iraq. Basim Saddam Sultan, deputy chief of the State Company for Iraqi Fairs and Trade Services, told Xinhua that 18 countries have participated in the 38th Baghdad International Fair with a limited participation of Arab countries, in addition to the United States and some European and Asian countries. "Some 750 companies participated in the 10-day exhibition, including 443 foreign companies and the rest local companies," Sultan said. The exhibition was held under tight security measures as Iraqi security forces blocked the roads leading to the location of the fair. The visitors have to walk and cross five checkpoints while helicopters flew over the fair's area as Maliki and some top officials were visiting the site.