The “Iraq Oil report” website, on Saturday, revealed a new development related to the exports of oil of the Kurdistan Region of Iraq, to the Turkish port of Ceyhan.
“Iraq is moving forward in its attempt to enforce a major arbitration award against Turkey, in order for a US court to issue a $601.9 million ruling in favor of Iraq,” the website said.
He explained that “the new Iraqi move is a sign that Baghdad and Ankara do not seem to be close to the type of diplomatic agreement needed, to reopen the oil export pipeline of the Kurdistan Region, through Turkey, despite a wave of technical talks in mid-September, which was moving towards resuming export operations.”
This comes, days after U.S. assurances, to continue working with all parties involved to reopen the Iraq-Turkey oil pipeline in the near future.
On September 15, Turkish Energy Minister Alp Arslan Birqdar announced the completion of the inspection of the oil pipeline from the Kurdistan Region to the port of Ceyhan, and confirmed that the line will be “technically” ready for operation soon.
Turkey halted flows through the pipeline in the Kurdistan Region on March 25, after a ruling in an arbitration case issued by the International Chamber of Commerce, Ankara, ordered the payment of compensation to Baghdad, for exporting oil through the Kurdistan Region without reference to the federal government between 2014 and 2018.
After that decision, Turkey began maintenance work on the pipeline, which runs through a seismically active area that it says was damaged by floods caused by the devastating earthquake that hit the southern region on February 6.
It is noteworthy that the Association of the Oil Industry in the Kurdistan Region announced in late August that stopping exports to the Turkish port of Ceyhan has cost producers and the Iraqi government losses of about $4 billion, as producers in the region have been forced to reduce production since stopping the flow of oil through the pipeline.
On Saturday, Transport Minister Razak Moheipz Al-Saadawi held an expanded meeting in Baghdad with Turkish Minister of Transport and Infrastructure Abdul Qader Uraloglu and his accompanying delegation, to discuss the development road project.
“We discussed a number of issues related to the development path project with the Turkish Minister of Transport and Infrastructure Çor Qadir Uraloglu,” Al-Saadawi said in a statement, explaining that “the meeting discussed technical, legal and financial related.”
“The meeting, which was attended by high-level officials from both countries, also reviewed the economic model of the project and how its various projects are established and operated,” he added.
Al-Saadawi stressed that “joint committees have been formed between Baghdad and Ankara to discuss technical, financial and legal issues, which will work to resolve any issues in order to start work on the implementation of the project.”
The two sides stressed, according to the statement, “the importance of conducting field visits to land and rail link points between the two countries.”
Shafaq News / Kurdistan Regional Governoment’s (KRG9 President Masrour Barzani and the UN Special Representative of the Secretary-General for Iraq, Jeanine Hennis-Plasschaert, highlighted the importance of safeguarding the constitutional and financial rights of the Kurdistan Region (KRI) and conducting timely elections during their meeting in Erbil, the capital of KRI.
The discussions also addressed the latest developments in Iraq and the need to ensure KRI’s constitutional and financial rights.
Additionally, both parties exchanged views on the situation in KRI, with a shared emphasis on holding parliamentary elections on the scheduled date of February 25, 2024.
The Governor of the Central Bank, Ali Al-Alaq, revealed the success of monetary policy in reducing the inflation rate in the country, and while announcing the date of abandoning the electronic platform, he pointed to the reasons for the suspension of the industrial initiative, and the imposition of interest on housing loans.
The governor of the Central Bank, Ali Al-Alaq, said in an interview with the Iraqi News Agency (Iqsa) followed by “Eqtisad News”: “The Central Bank views the exchange rate as a matter related directly to the general level of prices in the country, and that the bank succeeded in covering the needs of importers at the official rate,” stressing that monetary policy succeeded in maintaining the general level of prices through the most important indicators for inflation, which has witnessed a decline, and this is the main thing that the Central Bank focuses on in the success of its monetary policy.” “Maintaining the overall level of prices and low inflation marks the success of monetary policy, especially after real traders engaged in the official rate conversion process that gave us confidence in the conduct of foreign trade,” he added.
the electronic platform He pointed out that “the electronic platform witnessed at the beginning of its work many difficulties that led to the reluctance of some to enter it,” noting that “the implementation rate in the electronic platform has now increased from 20 percent to 95 percent, and this gave our reassurance that access to the platform gives speed and security.” He pointed out that “entering the electronic platform in the external transfer process avoids all parties from the risk of being exposed to local and international sanctions,” warning some traders who cannot work in an organized atmosphere, and are looking for chaos, and that the Central Bank is working to encircle this challenge in coordination with the government to besiege these groups that are being diagnosed and followed up. Al-Alaq indicated that “the central bank sales, 90% of them for the purposes of remittances and external transfer, and they are proceeding smoothly and at the official rate (1320), but the problem lies in the monetary aspect, which represents 10 percent of internal daily sales,” noting that “the ten percent is enough to meet the needs of travelers, but some try to dominate by withdrawing the amount allocated to travelers, which generates pressure and increase in the cash price, and these parties are personalized and they carry out illegal and criminal operations.” Al-Alak revealed a process of development of the cash sale system for the traveler within (System) prepared by exchange companies, and it is being developed to fill gaps, and repetition and does not accept repetition and the unreal traveler,” he denied, denying that there is a tendency to stop selling cash dollars to travelers, and that the Central Bank has no problem in covering the correct and legitimate applications within the classifications (travelers – study – treatment – special transfers) as the bank provided this through financial transfer companies (Western Union and Manni Karam). Direct transfer He explained that “the electronic platform is now gradually moving into direct transfer between the Iraqi bank and the correspondent bank mediated by an international auditing company, stressing that the central bank cut 60% that does not pass through the platform, but with direct transfer.” Al-Alaq pointed out that “next year the Central Bank will finally exit from being a broker in the process, and that the electronic platform will end next year and become direct transfers as internationally approved, and this is a major shift that will put things in the right paths, accelerate the transfer operations, and intertwin in relations with international banks.”
The fact that Iraq lost 27 trillion He pointed out that “the idea of linking the exchange rate to fill the general budget deficit is inaccurate, and that the Central Bank is responsible for determining monetary policy, determining the exchange rate within its indicators, and achieving the goal of monetary policy, indicating that “the calculation process for those who say that Iraq has lost 27 trillion of the difference in changing the exchange rate is a wrong process, and that 30 percent of oil revenues do not enter the Central Bank, because the Ministry of Finance uses them for foreign payments, while the second part is that the exchange rate should not be linked in achieving balance in the balance in the budget.” the American Treasury Al-Alaq stressed that “the assistance of the US Secretary of the Treasury praised during her visit to Iraq the measures taken by the Central Bank to regulate the external transfer process, apply compliance rules, combat money laundering, terrorist financing, and direct coordination between the Central Bank, the US Treasury and the Federal Bank, and there is a very great American satisfaction in this context.”
Penalties on banks He pointed out that “the Central Bank is conducting a review and scrutiny process in the diagnosis of violations against 14 banks who were imposed restrictions and denied access to dollars,” noting that “the Central Bank indicated the existence of a response and compliance from the 14 banks on the specified criteria.” He pointed out that “the US side does not restrict the demand for the dollar, and there is coordination with regard to cash shipments through an annual agreement on the number of shipments and its dates,” stressing that the central bank prefers the use of cashless payment tools through the use of (visa and master card cards), which recorded a significant increase during the past months, and this is a good indicator that reduces the focus on the use of cash, and reduces the trouble of reviewing companies to obtain the cash dollar. Regulating trade with Iran Al-Alaq added that “there are talks that are held continuously to organize the import process from the Iranian side in a way that does not expose Iraq to any problems of violating sanctions and agreements,” noting that “the central bank will reach a clear formula in regulating the trade process, especially since part of it is done through barter.” He pointed out that “an agreement obtained the settlement of the debts owed to Iraq from Iranian gas imports through a new method through which these amounts are paid.”
Adoption of new currencies He pointed out that “there is work to adopt the UAE dirham, the Turkish lira, the Indian rupee and the euro as part of the process of facilitating external transfer by opening direct ports in the currencies of the countries we deal with,” noting that “the trade balance with India is 3 billion dollars, as well as high figures for imports from the UAE and Turkey.” He stressed that “the central bank has reached advanced stages of understanding in the adoption of the currencies of those countries, which will facilitate the process of external transfer.”
The campaign to support the dinar Al-Alaq said that “the multi-faceted and multi-party support campaign of the Iraqi dinar is aimed at the supremacy of the local currency in internal transactions instead of foreign currencies that are being curbed, and there is a gradual transition process within the directive of the Prime Minister in limiting dealing with the Iraqi dinars internally, and obliging companies to do so, a large percentage of which responded.”
Industrial initiative and housing loans Al-Alaq pointed out that “the industrial initiative is not stalled, but the amounts approved for it have been exhausted, which amounted to the size of the lender initiatives by more than 13 trillion dinars,” noting that “the Central Bank raised the interest on the housing initiative to 2 percent, and this is a low price compared to global countries.” He explained that “the set interest does not include collectors that have previous payments with the new complexes included in them.”
{Economic: Euphrates News} The Governor of the Central Bank of Iraq, Ali Al-Alaq, said on Saturday that the Central Bank is working to ban dealing in dollars internally, pointing out that the electronic platform ends at the end of next year.
Al-Alak said in a press statement that “the central bank views the exchange rate as directly related to the general level of prices in the country, and that the bank succeeded in covering the needs of importers at the official rate,” stressing that monetary policy succeeded in maintaining the general level of prices through the most important indicators for inflation, which witnessed a decline, and this is the main issue that the central bank focuses on in the success of its monetary policy.
“Maintaining the overall level of prices and low inflation marks the success of monetary policy, especially after real traders engaged in the official rate conversion process that gave us confidence in the conduct of foreign trade,” he added.
the electronic platform
He pointed out that “the electronic platform witnessed at the beginning of its work many difficulties that led to the reluctance of some to enter it,” noting that “the implementation rate in the electronic platform has now increased from 20 percent to 95 percent, and this gave our reassurance that access to the platform gives speed and security.”
He pointed out that “entering the electronic platform in the external transfer process avoids all parties from the risk of being exposed to local and international sanctions,” warning some traders who cannot work in an organized atmosphere, and are looking for chaos, and that the Central Bank is working to encircle this challenge in coordination with the government to besiege these groups that are being diagnosed and followed up.
Al-Alaq indicated that “the central bank sales, 90% of them for the purposes of remittances and external transfer, and they are proceeding smoothly and at the official rate (1320), but the problem lies in the monetary aspect, which represents 10 percent of internal daily sales,” noting that “the ten percent is enough to meet the needs of travelers, but some try to dominate by withdrawing the amount allocated to travelers, which generates pressure and increase in the cash price, and these parties are personalized and they carry out illegal and criminal operations.”
Al-Alak revealed a process of development of the cash sale system for the traveler within (System) prepared by exchange companies, and it is being developed to fill gaps, and repetition and does not accept repetition and the unreal traveler,” he denied, denying that there is a tendency to stop selling cash dollars to travelers, and that the Central Bank has no problem in covering the correct and legitimate applications within the classifications (travelers – study – treatment – special transfers) as the bank provided this through financial transfer companies (Western Union and Manni Karam).
Direct transfer
He explained that “the electronic platform is now gradually moving into direct transfer between the Iraqi bank and the correspondent bank mediated by an international auditing company, stressing that the central bank cut 60% that does not pass through the platform, but with direct transfer.” Al-Alaq pointed out that “next year the Central Bank will finally exit from being a broker in the process, and that the electronic platform will end next year and become direct transfers as internationally approved, and this is a major shift that will put things in the right paths, accelerate the transfer operations, and intertwin in relations with international banks.”
The fact that Iraq lost 27 trillion
He pointed out that “the idea of linking the exchange rate to fill the general budget deficit is inaccurate, and that the Central Bank is responsible for determining monetary policy, determining the exchange rate within its indicators, and achieving the goal of monetary policy, indicating that “the calculation process for those who say that Iraq has lost 27 trillion of the difference in changing the exchange rate is a wrong process, and that 30 percent of oil revenues do not enter the Central Bank, because the Ministry of Finance uses them for foreign payments, while the second part is that the exchange rate should not be linked in achieving balance in the balance in the budget.”
the American Treasury
Al-Alaq stressed that “the assistance of the US Secretary of the Treasury praised during her visit to Iraq the measures taken by the Central Bank to regulate the external transfer process, apply compliance rules, combat money laundering, terrorist financing, and direct coordination between the Central Bank, the US Treasury and the Federal Bank, and there is a very great American satisfaction in this context.”
Penalties on banks
He pointed out that “the Central Bank is conducting a review and scrutiny process in the diagnosis of violations against 14 banks who were imposed restrictions and denied access to dollars,” noting that “the Central Bank indicated the existence of a response and compliance from the 14 banks on the specified criteria.”
He pointed out that “the US side does not restrict the demand for the dollar, and there is coordination with regard to cash shipments through an annual agreement on the number of shipments and its dates,” stressing that the central bank prefers the use of cashless payment tools through the use of (visa and master card cards), which recorded a significant increase during the past months, and this is a good indicator that reduces the focus on the use of cash, and reduces the trouble of reviewing companies to obtain the cash dollar.
Regulating trade with Iran
Al-Alaq added that “there are talks that are held continuously to organize the import process from the Iranian side in a way that does not expose Iraq to any problems of violating sanctions and agreements,” noting that “the central bank will reach a clear formula in regulating the trade process, especially since part of it is done through barter.”
He pointed out that “an agreement obtained the settlement of the debts owed to Iraq from Iranian gas imports through a new method through which these amounts are paid.”
Adoption of new currencies
He pointed out that “there is work to adopt the UAE dirham, the Turkish lira, the Indian rupee and the euro as part of the process of facilitating external transfer by opening direct ports in the currencies of the countries we deal with,” noting that “the trade balance with India is 3 billion dollars, as well as high figures for imports from the UAE and Turkey.”
He stressed that “the central bank has reached advanced stages of understanding in the adoption of the currencies of those countries, which will facilitate the process of external transfer.”
The campaign to support the dinar
Al-Alaq said that “the multi-faceted and multi-party support campaign of the Iraqi dinar is aimed at the supremacy of the local currency in internal transactions instead of foreign currencies that are being curbed, and there is a gradual transition process within the directive of the Prime Minister in limiting dealing with the Iraqi dinars internally, and obliging companies to do so, a large percentage of which responded.”
Industrial initiative and housing loans
Al-Alaq pointed out that “the industrial initiative is not stalled, but the amounts approved for it have been exhausted, which amounted to the size of the lender initiatives by more than 13 trillion dinars,” noting that “the Central Bank raised the interest on the housing initiative to 2 percent, and this is a low price compared to global countries.”
He explained that “the set interest does not include collectors that have previous payments with the new complexes included in them.”
Reinforcing the Iraqi Dinar: A Shift in Iraq’s Monetary Policy
In a decisive move to strengthen the local currency, the Iraqi Council of Ministers has mandated that all local contracts be denominated in Iraqi dinars. This decision is a notable departure from the previous norm of executing contracts in US dollars. However, an exemption is made for contracts established through external bank-issued “documentary credits.”
The Ministry of Planning has been entrusted with the task of compiling a comprehensive list of former state contracts initially denominated in US dollars. This list will be shared with the Ministry of Finance and the Central Bank of Iraq in an effort to ensure a smooth transition to the new policy.
Limitations on Dollar Coverage
As part of this shift, the Ministry of Planning will also set a maximum monthly limit for the coverage of contracts in US dollars. The Central Bank of Iraq is tasked with guaranteeing coverage at an exchange rate of 1,320 dinars per US dollar. To facilitate monthly payments for these contracts, the allocated funds will be deposited into the Ministry of Finance’s account, adhering to all necessary release controls.
The new policy also introduces a significant change for Iraqi borrowers from government banks who have taken loans in US dollars. These borrowers are now obliged to repay their loans in Iraqi dinars. The Central Bank of Iraq will cover these loans in US dollars, which will subsequently be used to reimburse the lending banks. Notably, this procedure is only applicable to loans issued before the Council’s recent decision.
Strengthening the Iraqi Dinar amid Devaluation
This strategic move comes in response to the devaluation of the Iraqi dinar over the past year, largely attributed to measures taken by the United States in late 2022 to prevent money laundering and the flow of dollars to Iran and Syria. These actions led to a significant drop in the street value of the Iraqi dinar, which fell to nearly 1,750 dinars per US dollar. Through the new policy, the Iraqi government aims to stabilize and strengthen the local currency by increasing its use in internal transactions.
The shift in Iraq’s monetary policy is a significant step towards reinforcing the local economy. By increasing the use of the local currency in internal transactions and setting strict parameters for the use of US dollars, the government is taking active measures to curb the devaluation of the Iraqi dinar. However, the effectiveness of these measures will depend on their implementation and the response of the local and international market.
{Economic: Al-Furat News} An economist stressed the need to restrict the work of some private banks to their role in the rise in the exchange rate of the dollar in the parallel market.
Salah Nuri told {Euphrates News}, “Restricting dealing with some private banks can lead to the stability of the exchange rate in the parallel market, (and with a small difference between the official price of the central bank and the parallel market price), and if the banks that have been restricted dealing with are responsible for speculation and smuggling the dollar.”
He pointed out “another condition is that traders will be treated according to the latest instructions of the Central Bank of Iraq, and will also lead to the stability of the exchange rate and a little difference between the official rate and the parallel market price.”
On the 26th of this month, Prime Minister Mohamed Shiaa Al-Sudani said that “civil banks take the dollar from the central and sell it in the parallel market, and this will be sanctioned,” noting that “the dollar price is related to the private reforms of the banking and financial sector, and the government has begun to implement reforms, despite its social cost.”
He pointed out that “exchange rate fluctuations are a battle between the country that wants to stabilize the right transactions, and a category that used to be on the dollar.”
{Political: Euphrates News} Political advisor to Prime Minister Mohamed Shiaa al-Sudani stressed on Thursday that the government does not have a magic wand to limit black market transactions but is proceeding at a confident pace to address.
The political advisor said in a televised statement that followed by {Euphrates News}: “The Prime Minister sent to the world in New York multiple messages about the new Iraq form that we want international relations, internal stability, combating corruption, and the establishment of security and the file of services, electricity and health are among the priorities of the Prime Minister.”
He added, “The file of corruption was present in the Prime Minister’s speech in front of the world and called it the “Corruption Pandemic” and considered it as one of the main challenges that the government insists on facing, while releasing important messages on human rights, addressing the file of displaced people and post-ISIS harbines, compensating affected civilians and providing basic life components to restore and stabilize them.”
He added that “the Prime Minister announced a very important file, which is the adoption of the policy of protecting civilians, as Iraq is one of the first countries in the region to adopt a policy of protecting civilians in wars, conflicts and disasters,” pointing out that “the Prime Minister’s meetings with the US Treasury and the Federal Treasury were successful and the Prime Minister adopted a policy of “economic networking” to advance the country.”
He pointed out that “the paper of the political agreement is a binding document for the government as the platform voted by the House of Representatives and they are understandings that serve the country.”
He pointed out that “the trade exchange between Iraqi and Iranian traders is about 20 million dollars a day and this causes pivotal pressure on the currency file,” stressing that “the government does not have a magic wand to limit black market transactions, but it is proceeding at a confident pace to address.”
He pointed out that “the government calls on citizens to use the electronic card in financial transactions and the most feasible Iraqi development path in terms of a purely economic point of view and will build a new Iraq along the western side of the country.”
He expressed that “global companies will work to build city vesicles along the development road and will pass through 10 governorates to the Iraqi-Turkish border, from which it will be connected to the highway network in Turkey.”
“The development path will turn the areas on its sides by 7 km on both sides of the road along the line (16,660,000 km) km into cities, factories, factories, warehouses and investment projects that contribute to diversifying sources of income,” he said.
Al-Shammari concluded his speech, “Industrial cities will be established along the path of development.”
Shafaq News / The Trade Bank of Iraq deposited, on Thursday, an amount of 200 billion dinars in the account of the Kurdistan Regional Bank to finance the salaries of employees and public sector workers in the region.
The Ministry of Finance and Economy of the Kurdistan Region said in a brief statement that on Thursday, another 200 billion dinars were deposited in the account of the Kurdistan Regional Bank by the Iraqi Trade Bank.
The American response suggests that Al-Sudani’s statements came as a surprise to the United States, especially since there were many meetings recently between officials of the two countries during which it was agreed to coordinate the situation and determine the tasks of the American forces and joint operations, not to dispense with the alliance.
Wed 2023/09/27
Washington is surprised by Baghdad’s position.
WASHINGTON – Washington confirmed that the presence of US troops in Iraq is agreed with Baghdad days after statements by Iraqi Prime Minister Mohammed Shiaa Al-Sudani that ISIS no longer poses a threat, and that his country no longer needs the international coalition.
“US forces are in Iraq at the invitation of the Iraqi government to undertake the task of advising, assisting and empowering,” State Department spokesman Matthew Miller said. The American response suggests that Al-Sudani’s statements came as a surprise to the United States and the two parties did not agree on their content, especially since many meetings took place recently between the officials of the two countries during which it was agreed to coordinate the situation and determine the tasks of the American forces and joint operations, not to dispense with the alliance. Followers pointed out that the Sudanese’s statements respond to the frequent Iranian demands for the withdrawal of foreign forces from Iraq, in an effort to take their place and fill the vacuum caused by its departure, in order to increase control and empowerment over Iraq.
The United States is leading an international coalition against the Islamic State in Iraq and Syria under the name “Operation Inherent,” led by Gen. Matthew McFarlane.
“Last August, we issued a joint statement with our Iraqi partners in which we confirmed that we are there at their invitation, and then we intend to consult on a future process that includes the alliance to determine how the military mission of the coalition will evolve,” Miller added in statements to Al-Hurra.
“The Iraqi security forces are leading ISIS missions inside Iraq and have demonstrated an increased ability to counter this threat,” he added.
In his speech, Miller refers to the “Joint Security Cooperation Dialogue” held last August between Iraq and the United States of America, and concluded a bilateral agreement to form a “premary committee” to assess the role of US forces and the international coalition in Iraq and the transformation of its military tasks after the development of the capabilities of Iraqi forces in the face of ISIS, while Iraq renewed its commitment to protect American individuals and advisers and the coalition present on Iraqi territory at the request of the government.
The dialogue ended with the signing of minutes of a meeting that confirmed the bilateral commitment to continuous security and defense cooperation in all fields, including the task of eliminating the militant organization in Iraq.
According to a statement issued by the US Embassy, the US and Iraqi delegations reaffirmed “their commitment to develop Iraq’s security and defense capabilities and determination to deepen security cooperation across a full range of issues to enhance the common interests of our two countries in the security and sovereignty of Iraq and in the stability of the region.”
The Joint Security Cooperation Dialogue reflects, according to the statement, “the mature bilateral strategic partnership and builds on the foundation laid by previous bilateral discussions including the U.S.-Iraq Strategic Dialogue in July 2021 and the U.S.-Iraqi High Coordination Committee in February 2023.”
The statement noted that “the two delegations have welcomed the full implementation of the Strategic Dialogue, stressing that there are no US forces with a combat role in Iraq and that all US military personnel remain in Iraq at the invitation of the Government of Iraq to train, provide advice, assist and share intelligence in support of the battle of Iraq to ensure the permanent defeat of ISIS.”
Despite its defeat in 2017 in Iraq, the group still from time to time adopts attacks in the country, and the coalition remains active in Iraq to prevent its rise again.
In late 2021, Iraq announced the end of the “combat tasks” of the international coalition, which is still present on Iraqi territory to perform advisory and training missions.
The coalition currently includes about 2,500 American military personnel, and about 1,000 of its member states, deployed at military bases under the command of Iraqi forces.
The frequency of ISIS attacks, according to the international coalition, which earlier reported a decline in ISIS attacks in Iraq and Syria during the first months of 2023, decreased by 68 percent, compared to the same period a year earlier.
But the security situation in Iraq is completely unstable, due to the presence of terrorist cells that are still working to confuse the security situation, especially in the areas of Salah al-Din and Kirkuk, and some areas of Diyala, as well as in the capital Baghdad, including the Al-Tarmiyah area. These areas are witnessing terrorist operations from time to time, despite all security and military operations.
US President Joe Biden, with former Iraqi Prime Minister Mustafa al-Kazimi, signed an agreement to officially end the combat missions of US forces in Iraq by the end of 2021, more than 18 years after US troops were sent to the country.
Biden stressed that the U.S. role in Iraq will focus on training assistance, as well as countering the Islamic State terrorist organization, and intelligence support.
Al-Sudani noted in an interview with C. N. On the sidelines of his participation in the 78th session of the United Nations General Assembly, the “the Iraqi and American Ministries of Foreign Affairs are arranging a date this year, to meet the invitation of the American President for us to visit Washington,” noting that “one of the most important topics to be discussed in the visit is the Strategic Framework Agreement.”
I’m He added that “the agreement needs to be activated between the two countries, especially as there is a serious desire to develop this relationship, which should not be limited to the security aspect, despite its importance,” adding that “there is a need to activate the files and other areas, which is important today. Iraq is a country with great economic resources, and it is an influential country in the energy market, and there are many opportunities that can be areas for American companies to work in various economic, service, and urban sectors in Iraq.”
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