Shafaq News/ Kurdistan's Ministry of Planning and the United States Consulate-General in Erbil on Sunday signed a memorandum of understanding (MoU) to bolster small and medium-sized businesses in the region.
Speaking in a joint press conference with the US Consul, Robert Palladino, Minister of Planning, Dara Rachid, said that signing this MoU will address many challenges facing small and medium-sized business owners and create job opportunities for unemployed youth.
Palladino said that the MoU aims primarily to boost the private sector, stressing that the Kurdistan Regional Government pays special heeds for this vital sector.
The US diplomat said that the MoU will contribute to expanding the economy of the Kurdistan Region to accommodate for women-led initiatives, deeming small-sized projects a key for the region's economic progress.
The US consul shed light upon the "commonalities and historic ties" between Washington and Erbil, laying emphasis on his country's support for the economic reforms adopted by the KRG.