Baghdad: The British Ambassador to Iraq has outlined the primary challenges and opportunities that Iraq will face in the coming years. Ambassador Stephen Hitchen, speaking at the Iraqi-British Business Council’s economic conference in Baghdad, emphasized the critical issues confronting Iraq and expressed optimism about the country’s future.

According to National Iraqi News Agency, Ambassador Hitchen, whose term will conclude in two weeks, shared his insights from his tenure in Iraq. He pointed to the Iraqi people’s creativity, courage, dignity, and endurance as sources of hope, noting that the trajectory towards the future appears more positive in 2025 compared to previous years. However, he acknowledged the significant challenges that remain.

He identified the demographic and economic situation as the most pressing existential challenges, surpassing issues like ISIS or regional conflicts. With Iraq’s population projected to increase from 46 million today to 70 million by 2040, and in light of anticipated declines in oil prices, these challenges are substantial.

Ambassador Hitchen highlighted potential solutions, including economic diversification, reform, and foreign investment, emphasizing the role of the private sector and businessmen. He noted the Iraqi government’s receptiveness to British ideas, mentioning a contact group that includes the G7 and the World Bank focused on the Iraqi economy.

He also referenced discussions with Mohammed Al-Daraji, Advisor to the Prime Minister, aimed at unifying economic strategies and addressing concerns of American and European companies about intellectual property rights. A draft law on this issue is expected to be voted on soon.

The Ambassador remarked on the significance of Iraqi Prime Minister Al-Sudani’s recent visit to London, which aimed to renew trade relations and announce projects valued at 12 billion pounds. This reflects a shift in British perception of Iraq from a crisis-laden country to one of opportunities and investments. The British presence in Iraq, he noted, is motivated by future prospects, marking a pivotal change in British strategies and attitudes towards Iraq.