What is the legal climate and what legal protections currently support commercial transactions in Iraq?
The current laws governing Iraq are a product of its recent history and leadership. Under the regime of Saddam Hussein an established commercial law did exist. An analysis of the Hussein regime’s commercial law in Iraq can be found at: www.export.gov/iraq/pdf/iraq_commercial_law_current.pdf (PDF only). This law was significantly amended by the orders of the CPA. These orders liberalized the investment and business environment and went far in creating important commercial laws and institutions that are up to international standards. These orders make up a significant component of current Iraqi commercial law. All referenced CPA orders can be found on the old CPA website at: www.iraqcoalition.org/regulations. While Iraq has civil remedies for domestic business disputes, there are no current provisions for the recognition or enforcement of non-Arab foreign civil judgments or arbitral awards. On June 28, 2004 sovereignty was handed over to an Iraqi Interim Government working under the Tran
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