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TNT
Tishwash:
President Al-Zaidi travels from Washington to Texas: Meeting with the head of Chevron and the president of the US Chamber of Commerce
Journalists accompanying Prime Minister Ali al-Zaidi on his current visit to the United States reported that he departed today (Thursday) for Andrews Airport in preparation for a visit to Houston, Texas.
They added that upon his arrival in Texas, Prime Minister al-Zaidi will proceed to Chevron headquarters for a meeting with the company’s president.
They also indicated that he will meet with the president of the US-Texas Chamber of Commerce and deliver a speech according to the scheduled program. (LINK)
US report: Al-Zaidi plans to sign $60 billion worth of trade agreements in Washington
The American newspaper “Semaphore” stated that the visit of Iraqi Prime Minister Ali al-Zaidi to America reflects a new direction for the Washington administration to reformulate relations with Iraq on the basis of economic and investment partnership, instead of focusing on military presence and security cooperation .
The newspaper explained that “Al-Zaidi will participate, on Friday, in a summit organized by the American Chamber of Commerce alongside US Energy Secretary Chris Wright, where trade and investment agreements worth $60 billion will be announced between American companies, the Iraqi government and the private sector, a figure described by the summit organizers as exceeding expectations .”
During his meeting with al-Zaidi in the Oval Office, Trump praised what he described as the “great harmony” between them, stressing that Iraq possesses enormous economic potential thanks to its oil resources, and that the next phase will witness the conclusion of more economic agreements .
Trump also argued that the United States no longer needed a large military presence in Iraq, and that relations between the two countries should be based on economic and investment cooperation .
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Semaphore added that “Al-Zaidi’s visit comes within the framework of a strategy pursued by the T******************n in the Middle East, based on expanding American influence through economic diplomacy, similar to the visit made by Saudi Crown Prince Mohammed bin Salman to Washington, which witnessed the announcement of huge investments and financial pledges .”
The newspaper quoted Steve Lutes, vice president of the U.S. Chamber of Commerce for Middle East Affairs, as saying that “the Iraqi government is seeking to reassure American companies that the new prime minister, who comes from the business sector, is placing economic cooperation at the forefront of the relations between Baghdad and Washington, in an unprecedented manner .”
She noted that “the agreements to be announced will focus on the oil and gas sectors, energy infrastructure, and electricity generation, with the participation of major international companies, including (General Electric Vernova), (British Petroleum), (Excelerate Energy), (ExxonMobil), and (Shell ).”
She continued: “The agreements also cover the information and communications technology, digital infrastructure, healthcare, and agriculture sectors, as part of Iraq’s efforts to diversify its economy and reduce its dependence on oil .”
According to the summit agenda seen by the newspaper, the events will include the signing of agreements, memoranda of understanding and partnership frameworks in the presence of the US Secretary of Energy, while Al-Zaidi will attend the official announcement ceremony for these agreements .
The newspaper indicated that “Iraq still represents a complex environment for foreign investments, due to the continued political and military influence of Iran within the country, and the presence of armed factions supported by Tehran that have previously targeted US forces and their allies .”
In her commentary, journalist Lauren Watson, the report’s author, said that “al-Zaidi pledged to President Trump to work on disarming Iranian-backed armed groups by September, but implementing this pledge will be extremely difficult given the extensive influence these groups wield and their refusal to give up their weapons .”
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She argued that “the T******************n is betting on expanding the American economic presence in Iraq before the security situation is fully stabilized, and without sufficient guarantees to protect American companies and investments. (LINK)
World Bank President proposes establishing a large banking holding company in Iraq
The Economic Payment Agency is monitoring the latest developments in markets and prices through multiple media sources.
Prime Minister Ali Faleh al-Zaidi met Wednesday evening, Baghdad time, with the President of the World Bank Group, Ajay Banga, and his accompanying delegation, which included the President of the International Finance Corporation, Makhtar Diop, and a number of senior World Bank officials.
During the meeting, Al-Zaydi affirmed that Iraq currently enjoys a high level of stability, which will positively impact the economy and investment. He pointed out that the Iraqi economy will witness remarkable growth thanks to the policies and reforms that the government has begun implementing, according to the Prime Minister’s Media Office.
Al-Zaydi pointed out that the government gives special importance to reforming the banking sector and preparing a program budget to ensure that resources are directed efficiently towards achieving development, and drawing a new economic identity for Iraq based on diversification, reform and sustainability, stressing the work to increase oil production to meet the requirements of development, in parallel with developing non-oil sectors and enhancing their role in the national economy.
Al-Zaydi explained that the government is continuing to establish the Development Fund, which will finance investment projects in all governorates, and expand the scope of financing available to qualified Iraqi banks, in addition to supporting and empowering the private sector to be a key partner in development.
For his part, the President of the World Bank, Ajay Banga, expressed his admiration for what Iraq has recently achieved in the field of stability and peace, stressing that Iraq possesses good potential and resources capable of bringing about a major economic transformation if they are well invested.
Banga expressed the World Bank’s readiness to provide technical and advisory support to Iraq in the areas of program budgeting and banking sector restructuring. He also called for studying the possibility of forming a large Iraqi banking holding company by merging a number of state-owned banks to enhance the efficiency of the financial sector and support economic reform. (LINK)
Al-Zaidi announces from Texas, USA, the launch of the “Energy City” project in Al-Faw
Prime Minister Ali Faleh al-Zaidi announced from Houston, Texas, a plan to launch “Energy City” projects on the waterfront of the Faw Peninsula in southern Iraq, during his participation in a joint economic dialogue forum organized by the Iraqi-American Chamber of Commerce.
Al-Zaydi affirmed in his speech, which was followed by Al-Sa’a Network: “The government’s determination to remove all obstacles and impediments to attracting investment, and to launch a new era of cooperation with real partners, not contractors, while providing the necessary guarantees for a safe investment environment supported by financial and banking reforms .”
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The proposed “Energy City” plan includes the establishment of integrated complexes for refining and processing crude oil, gas production and collection units, and power generation stations, with these facilities to be linked to the strategic oil pipelines and the “Development Road ” project route.
The meeting was attended by the Ministers of Oil and Electricity and government advisors, along with a host of representatives of American companies, businessmen, investors and bankers looking for investment opportunities in Iraq
For his part, the president of the bilateral Chamber of Commerce, David Phillips, welcomed the visit of the Iraqi delegation, stressing the desire of the business community and the private sector in the state of Texas and throughout the United States to invest and cooperate with Iraq .
Phillips noted that “major companies are eager to seize the promising opportunities offered by Iraq’s long-term plans to increase oil and gas production from invested fields, and to actively contribute to modernizing the infrastructure of Iraq’s energy sector. (LINK)
Source: Dinar Recaps
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