Carrefour leads the way into postwar Iraq(70159)

Carrefour leads the way into postwar Iraq

Carrefour is set to become the first multinational retailer to enter the Iraqi market since the war. The world s second-largest retailer will open a two-storey store in Iraq s Kurdish north in September.

Although Iraq has attracted natural resources groups, the country s GDP of about 2,400 a head, coupled with political and military instability, has meant it has struggled to attract customer-focused companies.

Carrefour s store in Arbil, one of northern Iraq s largest cities, will be run by Majid al-Futtaim Group (MAF), the French hypermarket group s Dubai- based Middle East franchise partner. The store will anchor a development that will include an ice rink, a cinema complex and a bowling alley, according to the Arbil-based Kurdish Globe.

An MAF executive said recently that the company was scouring sites in the north of Iraq, which is predominantly Kurdish and has been largely free of the sectarian bloodletting experienced in the rest of the country.

Muhammad Naeem said: The north of Iraq is a very promising market and a stable area. We studied the economy, the infrastructure, we see no uncertainty and no security issues in that part of the country.

Carrefour operates in 31 countries, but is exceeded in size by America s Wal-Mart group, the owner of Asda.

Carrefour leads the way into postwar Iraq

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