ERBIL — Chancellor of Kurdistan Region Security Council and Prime Minister-designate Masrour Barzani received on Tuesday a trade mission led by US Chamber of Commerce to discuss challenges and opportunities to foreign investments in the Kurdistan Region.

“Barzani detailed his plans to reduce dependence on oil and gas by investing in agriculture, industry and tourism, among other sectors,” according to the readout of the meeting.

“He also shared proposals to reduce and streamline bureaucracy through digitalization. The Chancellor also stressed that greater transparency would help restore trust between locals and businesses and develop a stronger, reliable banking sector.”

The US Chamber of Commerce signed earlier this week a memorandum of understanding with counterparts in Kurdistan to foster trade ties between Washington and Erbil. Barzani said during the meeting that the MoU was well received in the Kurdistan Region.

On Iraq, Chancellor Barzani said he intends to lead new efforts to address the protracted disputes with the Iraqi Federal Government. He said the Constitution already outlines mutually beneficial mechanisms, and looks forward to engaging with Prime Minister Adel Abdul Mahdi.