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Clare » April 30th, 2025
Government advisor: Linking national banks with their American counterparts provides a means for economic stability.
4/30/2025 – Baghdad
Prime Minister’s advisor, Mazhar Mohammed Salih, confirmed on Wednesday that linking up with US banks provides financing and credit lines for trade and investment in Iraq. He also explained that direct cooperation with more than one US bank reduces the costs of foreign transactions.
“As long as Iraq is within the dollar zone like other OPEC countries, with the US dollar constituting the majority of its financial assets from oil revenues
(t is in our country’s interest to deal equally with the US commercial banking system as a global correspondent for national banks, especially when dealing with more than one US bank operating globally (Global Bank) that has major global branches and arms,” Saleh said in a statement reported by the official news agency and seen by Al-Eqtisad News.
He added, “The Central Bank of Iraq’s efforts to link national banks with major banks and financial institutions in the United States, with more than one bank that enjoys international standing, is an important means of providing economic stability and improving the investment, trade, and development climate in our country through integration with the dollar trade, banking, and investment zone, which remains, without a doubt, one of the strongest and most important monetary zones in the world.”
He pointed out that “reducing the costs of foreign banking transactions today requires direct banking cooperation with more than one American bank (Global), and that the Central Bank of Iraq is moving in the right, open, and rapid direction in assessing its priorities to serve the stability of the national economy at the level of foreign banking transactions and implementing them with the required speed and high guarantees.”
Saleh explained that “the second American bank provides opportunities for Iraqi banks as a global correspondent bank with multiple branches and operations to quickly implement banking operations, whether in transfers or financing foreign trade for our country’s markets, without obstacles and with transparency and high governance.
In addition, it provides financing and credit lines for trade and investment in Iraq, as well as benefiting from digital banking services and highly advanced international standards, which will bring our national banks to the required global level.
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These are factors that encourage the investment and business climate in our country at the same time, in the midst of integration and cooperation with the international banking system.” LINK
Ministers, experts, and journalists met… the outcome of the Iraqi Foreign Minister’s visit to Washington
4/30/2025
Foreign Minister Fuad Hussein concluded his official visit to Washington, D.C., on Wednesday, during which he met with a number of American officials and representatives of research and media institutions.
The Ministry of Foreign Affairs stated in a statement received by 964 Network:
Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein concluded his official visit to Washington, D.C., which began on Thursday, April 24, 2025. He held a series of high-level meetings with senior U.S. officials and representatives of research and media institutions.
On Friday, April 25, the Minister met with his American counterpart, Mr. Marco Rubio, at the US State Department. The two sides discussed ways to enhance bilateral cooperation, particularly in the political, security, and economic fields. During the meeting, Mr. Fuad Hussein also stressed the importance of reviewing US security warnings regarding travel to Iraq.
At his residence in Washington, the Minister held meetings with a number of senior officials and experts, including Mr. Tim Lenderking, Senior Official in the Bureau of Near Eastern Affairs, and Ms. Victoria Taylor, Deputy Assistant Secretary of State for Iraq and Iran, where they discussed bilateral relations and ways to strengthen them.
On Saturday, April 26, Mr. Fuad Hussein also received Mr. Douglas Silliman, President of the Arab Gulf Research Institute and former US Ambassador to Iraq, Mr. Zalmay Khalilzad, former US Ambassador, in addition to a number of prominent figures in the fields of politics, media, and energy, including Ms. Barbara Leaf, Mr. Kenneth Pollack, Mr. Michael Gordon, Mr. Mark Rowland, Mr. Matthew Zeiss, Dr. Eisen Maroji, Mr. Andrew Parasiliti, and former US Ambassador to Iraq, Alina Romanowski.
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As part of his diplomatic activities, the Minister visited the Embassy of the Republic of Iraq in Washington on Monday, April 28, and met with the Iraqi Ambassador to the United States, Mr. Nizar Al-Khairallah, and embassy staff, learning about the progress of work and efforts made to strengthen Iraqi-American relations.
The Minister also participated in two roundtable discussions organized by the Washington Institute for Near East Policy and the Middle East Institute (MEI), attended by a select group of researchers and experts. The discussions addressed regional developments, Iraq’s growing role in the region, and the future of relations between Baghdad and Washington.
On Tuesday, April 29, US National Security Advisor Mike Waltz received Mr. Fuad Hussein at the White House, in the presence of a number of senior officials. The meeting discussed regional security and shared challenges.
The Minister also met with US Deputy Secretary of the Treasury, Dr. Michael Falkender, where the two sides discussed Iraq’s energy situation and the Iraqi government’s efforts to achieve electricity independence.
On the sidelines of the visit, Mr. Fuad Hussein conducted interviews with a number of prominent media outlets, including Al-Sharq Channel, Bloomberg, Sky News, Al-Iraqiya, Rudaw, and Kurdistan 24, during which he addressed Iraq’s most prominent positions on regional and international issues.
At the conclusion of his visit, the Minister held a roundtable discussion with a select group of journalists and correspondents from American media outlets at the Iraqi Embassy in Washington. The discussion was attended by Ambassador Nizar Al-Khairallah, members of the accompanying delegation, and embassy staff. He reviewed the most important outcomes of his visit and the prospects for Iraqi-American relations in the coming period. LINK
Al-Sudani opens doors to Baker Hughes… Iraqi gas on the negotiating table
4/30/2025
Prime Minister Mohammed Shia al-Sudani discussed the Iraqi gas file on Wednesday with Lorenzo Simonelli, Chairman and CEO of Baker Hughes, an American company. Simonelli affirmed that all necessary facilities would be provided for the company’s work in Iraq.
The Prime Minister’s Office stated in a statement received by Shafaq News Agency, “Al-Sudani received the Chairman and CEO of Baker Hughes, an American oil and energy services company, Lorenzo Simonelli. During the meeting, they discussed prospects for cooperation in the energy sector and reviewed the company’s projects in Iraq, including the completion of gas processing units in the Nasiriyah field with a capacity of 200 million standard cubic feet, the first phase of which is expected to be completed before the summer of 2026, while the second phase will be completed in 2027.”
Al-Sudani pointed out that “the government is ready to provide all necessary facilities and support for the company’s operations in Iraq, in light of government procedures for the entry of businessmen and companies into the Iraqi market,” noting that “the government has worked to improve the business environment to attract companies across all sectors.”
For his part, Baker Hughes expressed his company’s “commitment to implementing energy projects in Iraq and expanding its scope of
work,” stressing that “Iraq boasts promising investment opportunities in various fields.” LINK
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Iran announces cooperation with Iraq on oil, associated gas, and offshore exploration.
4/30/2025
Iranian Oil Minister Mohsen Paknejad announced on Wednesday the signing of four joint cooperation documents with Iraq in the oil and gas sector.
In a statement to reporters today, Paknejad said that he had visited Iraq two weeks ago at the invitation of the Iraqi oil minister, during which four cooperation documents were signed.
He added, “Two of these documents are in the form of cooperation plans, including implementation and participation regarding the collection of associated gases in Maysan Governorate and near the border, which could not be released due to a lack of raw materials,” adding that “if this project is implemented, it will be possible to launch it.”
The Iranian oil minister continued, saying, “There is also another issue related to joint work on offshore exploration operations in areas shared within Iraqi territorial waters and studies related to developing the Khorramshahr field, which is shared with the Sinbad field in Iraq. Documents have been signed in this regard.”
Iranian Oil Minister Mohsen Paknejad arrived in Baghdad on Monday, April 14, for a two-day official visit at the invitation of his Iraqi counterpart to discuss ways to enhance cooperation between the two countries in the oil and energy sectors.
An informed source told Shafaq News Agency that the Iranian minister, upon his arrival, held a meeting with the Iraqi oil minister, where they discussed cooperation in the energy sector and signed four memoranda of understanding.
It’s worth noting that the Iranian minister met with his Iraqi counterpart, Minister of Electricity Ziyad Ali Fadhil, in February 2024, during which they emphasized enhancing cooperation in the oil, gas, and electricity sectors.
For his part, Iraqi Oil Minister Hayan Abdul Ghani confirmed the signing of memoranda of understanding and agreements with Iran to exchange expertise, serving the interests of both countries and enhancing joint cooperation in various sectors.
Abdul Ghani indicated, in a statement received by Shafaq News Agency, that “Iraq has promising gas investment projects and is working to achieve self-sufficiency in petroleum derivatives.” LINK
Source: Dinar Recaps
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Henig » April 30th, 2025
LNG, aircraft, agriculture contracts with US must be done in May: PM
April 29, 2025 – 17:00
Việt Nam is also working closely with ASEAN and regional partners to conduct negotiations in a manner that ensures harmonised interests and a sustainable, balanced trade relationship, in line with the ASEAN–US Comprehensive Strategic Partnership. HÀ NỘI —
Prime Minister Phạm Minh Chính on Tuesday chaired a meeting in Hà Nội with ministries and relevant agencies to review preparations for bilateral trade negotiations with the United States.
This was the sixth cabinet meeting regarding the implementation of conclusions and directives issued by the Party Central Committee, the Politburo, and General Secretary Tô Lâm on adapting to the US’ new tariff policies, in which Việt Nam is subject to a 46 per cent rate.
PM Chính stated that Việt Nam had recently implemented a wide range of active and coordinated measures. Ministries and sectors have engaged with the highest sense of responsibility. The results so far are heading in a positive direction, yet the situation remains complex, requiring agencies to closely monitor developments, respond promptly and effectively, and address issues within their jurisdiction in a proactive, practical, and feasible manner.
Vietnamese agencies have been making great efforts to address issues related to the origin of goods, non-tariff barriers, intellectual property, copyright, and administrative procedure reduction.
PM Chính has instructed ministries and sectors to be proactive in working with the US, clearly explaining the issues of US concern that Việt Nam has been addressing.
He urged the swift negotiation and signing, by May 2025, of contracts for the purchase and import of goods from the United States, such as LNG, aircraft, pharmaceuticals, medical equipment, and agricultural products, to ensure a sustainable trade balance.
PM Chính emphasised that negotiations must be conducted with calmness, determination, and great flexibility – avoiding either perfectionism or haste – while safeguarding national sovereignty, security, and interests.
The negotiations must also honour Việt Nam’s international commitments, ensuring no one objective is pursued at the expense of another party or country, and adhering to the principle of “harmonised interests, shared risks”.
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He requested Vietnamese agencies to engage in dialogue with the US so that both sides could reduce tariffs on each other’s goods to mutually appropriate levels. He also called on the US to soon recognise Việt Nam as a market economy and lift restrictions on the export of high-tech goods.
These measures would contribute to trade balance and technology transfer, while reflecting US’s support for a strong, independent, self-reliant, and prosperous Việt Nam. Việt Nam will continue to revise its legal framework to address US’ concerns, while ensuring sovereignty, fulfilling international commitments, and maintaining compatibility with the legal systems of both countries.
The Government leader noted that Việt Nam had recently focused on amending numerous laws. At the upcoming ninth session of the National Assembly, the Government will submit proposals to amend laws related to intellectual property, copyright protection, and administrative procedure reform to better reflect the current context.
Việt Nam is also working closely with ASEAN and regional partners to conduct negotiations in a manner that ensures harmonised interests and a sustainable, balanced trade relationship, in line with the ASEAN–US Comprehensive Strategic Partnership. PM Chính instructed each relevant ministry and agency to develop specific negotiation plans, and tasked the Ministry of Industry and Trade with consolidating and finalising these plans by April 30. — VNS LINK
Source: Dinar Recaps
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