Business delegation heads to Iraq

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Lord Mandelson took representatives of 23 UK companies on his one day visit to Baghdad and Basra.

"Iraq today is a place of opportunity. Britain will stand by Iraq in peace as we have in conflict to help Iraqis realise that opportunity," he said in a statement released by the Department for Business and Enterprise.

"British business expertise and skills can play an important role in the development of the Iraq economy and the UK Government will do all it can to make a positive contribution to the economic future of Iraq."

Members of the delegation - including representatives from the healthcare, construction, transport, energy, water, banking, and security sectors - were due to meet Prime Minister Nouri al Maliki and other senior Iraqi politicians.

Lord Mandelson is using the visit to announce that the British firm, Maritime and Underwater Security Consultants, has won a 200 million dollar (£140 million) contract to clear and map the seabed off the Al Faw peninsula as part of a project to build an underwater oil pipeline.

The visit also coincides with the launch of a banking software system developed by the UK company, B-Plan Information Systems, for Iraq's biggest bank, the Rafidian Bank.