Washington (CNN) -- Iraq is open for business, and American companies should make an effort to invest there, Secretary of State Hillary Clinton said Friday. "President Obama and I and our government believe strongly that expanding economic opportunity is as essential as building democratic institutions," Clinton said while surrounded by executives from companies as far-ranging as Occidental Petroleum, JP Morgan Chase, General Electric, Microsoft and Lockheed Martin, in a round-table discussion aimed at getting companies focused on commercial opportunities in Iraq despite its current "tough environment." The meeting comes as the United States transitions from a military-led to a civilian-led partnership with the Iraqi government by the end of the year. The State Department is leading an inter-agency effort to support American companies in their efforts to secure commercial opportunities in Iraq.
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"Expanding economic opportunity" as essential as democracy, she says
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Federal agencies join forces to support U.S. companies in Iraq
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IMF says Iraq's growth will outpace China in two years, Clinton says
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Despite the opportunity @placeholder offers, Clinton said, she would "not sugarcoat" the difficulties posed by the current working environment in Iraq.
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But as our Iraqi colleagues will tell you, they are working hard to make it easier to do business in Iraq for @placeholder and foreign investors alike."