I am very pleased to join you today as we launch the negotiations of the Trade and Cooperation Agreement between the EU and Iraq.

The launch of these negotiations is a sign that the EU remains fully engaged with Iraq and that we are four-square behind the determination of the government to re-build the country and drive through economic, social and political reform. This is not easy. Nor will it be quick. But we are there for the whole of the journey, and not just part of it.

The conclusion of the Agreement we aim for will give a contractual framework to our bilateral trade and investment relations. This trade regime will be based on the Most Favoured Nation (MFN) principle.

The Agreement will cover not only trade in goods, but also include provisions on trade & investment conditions in areas such as services, capital movements and intellectual property.

The Trade and Cooperation Agreement (TCA) will help Iraq create economic transparency and predictability that will mean a more favourable climate for trade and investment.

Crucially, both through the negotiation and the agreement's implementation, we will create a framework, and give an impetus, to Iraq's adoption of economic and legal reforms in line with multilateral principles. This will help facilitate Iraq's accession to the WTO, an objective that the Commission strongly su pports. We will be a supportive partner in Iraq's accession negotiations.

In doing so, we will support the internal reform process in Iraq. Of course the TCA negotiations will be demanding for the Iraqi side, and will require substantial commitment within the Administration, at a time of conflict and demanding change in the country. But we are convinced that these negotiations and the perspective of WTO accession will make a positive contribution to economic reform and Iraq's progress towards stability.

The pace of negotiations will depend on the capacity of the Iraqi Administration. But we will provide technical assistance throughout the process, to help develop a sound, mutually beneficial and lasting partnership.

I encourage our negotiators to be hard-working, to be dedicated, ambitious and forward-thinking. Above all, they need confidence at a difficult time. We will share the responsibility in taking forward the detailed discussions.