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What is the most important outcome of the Iraqi visit to America so far?
August 20, 2020
Al-Kazemi said that investment opportunities are available to American businessmen and companies (Getty).
Ultra Iraq Editorial Team
The mutual meetings between the US and Iraqi sides, as part of the visit of Prime Minister Mustafa Al-Kazemi and his accompanying delegation to Washington, resulted in a set of agreements and understandings in the field of energy and money, in a way that strengthens Iraq's self-reliance in the field of energy and improving the economy, according to the official announcement.
3 oil agreements ... and 2 electrical agreements
On the energy level, five American companies have signed agreements with the Iraqi government aimed at strengthening Iraq's independence in the field of energy, and the US Department of Energy [You must be registered and logged in to see this link.] in [You must be registered and logged in to see this link.] "Ultra Iraq", "Honeywell International, Baker Hughes, General Electric, Steller Energy and Chevron have signed commercial agreements worth It will reach eight billion dollars with the Iraqi ministers of oil and electricity. "
General Electric said it has signed two new agreements worth more than $ 1.2 billion with the Iraqi Ministry of Electricity
"These agreements are important for the future of energy in Iraq, and I am confident that the same companies that enabled the United States to achieve energy independence will use their vast experience to help Iraq achieve its full potential in the energy sector," US Energy Secretary Dan Brouillett said in a statement.
General Electric said in a statement to "Ultra Iraq", that it "signed two new agreements worth more than $ 1.2 billion with the Iraqi Ministry of Electricity to start maintenance programs for major power stations in the country and to strengthen the distribution network."
For his part, Minister of Oil Ihssan Abdul Jabbar revealed, in statements to the official agency, the mechanism of business that will be implemented by the three oil companies, while stating that “a signing was made with the American International Chevron Company, the beginning of the establishment of a new energy company in Dhi Qar, as this agreement will include managing the energy file. Integrated in Dhi Qar Governorate from oil and gas production and other support services.
He pointed out that "the second signature is with Honeywell, which will contribute greatly to direct assistance and coordination in the field of infrastructure development in the refineries and gas sectors," while the third signature is related to building a joint business with Baker Hughes as one of the major oil services companies that deal with With the companies of the Ministry of Oil, and this is a new beginning with this company with the aim of establishing a joint business that will develop the Iraqi local capabilities and add another value to the national industry. "
3 financial agreements ... one dedicated to electricity
For his part [You must be registered and logged in to see this link.] Finance Minister Ali Allawi announced the signing of 3 agreements with American companies, including two companies to support the economy and finance large projects, and another to finance the electricity sector.
Allawi said in statements to the official agency, followed by "Ultra Iraq", that "three agreements have been signed with the American side, the first of which is with USAID to restore their programs in Iraq and support the Iraqi economy, especially in the field of social development," indicating that "the agency is one of the largest Institutions that have contributed to the reconstruction of Iraq.
He added that "the second agreement was with one of the US government institutions that supports direct investments by taking stakes in corporate institutions, including Iraqi companies, and they will be an important source in financing large projects."
US Secretary of State Mike Pompeo revealed the provision of 240 million dollars in new aid to Iraq
Allawi pointed out that "the third signature took place with the Ji Electrical Equipment Company to finance major projects in the electricity sector, and the agreement will be important for rebuilding the electricity sector and power generation in Iraq."
Additional financing and aid
The Minister of Finance, Ali Allawi, stated that "the Development Agency with the American Foundation for Investment Support will provide up to five billion dollars, and it will be in installments and will be directed towards development projects for the purpose of developing the Iraqi economy."
On the other hand, the US embassy revealed in a statement, that Washington has provided additional humanitarian aid worth approximately $ 204 million to the people of Iraq and Iraqi refugees in the region and the generous communities that host them, while noting that “this funding includes nearly $ 133 million from the Population and Refugee Office. Migration and more than $ 71 million from USAID's Office of Humanitarian Assistance.
And US Secretary of State Mike Pompeo revealed, during a press conference with his Iraqi counterpart Fouad Hussein, that $ 240 million in new aid had been provided to Iraq.
Foreign: We seek to deepen the alliance with America
For his part, Foreign Minister Fuad Hussein affirmed during the press conference with his US counterpart that Iraq would continue to protect and "deepen" the alliance with the United States of America.
Hussein said, "America is a partner to Iraq, and we will continue to protect and preserve, deepen and expand this alliance," noting that "Iran is a neighbor of Iraq, and as a result there are ties to geography, history, culture and economy."
He pointed out that "Iraq's foreign policy is based on Iraq's national interests, and this relates to communication with neighbors and exchange with them," explaining that "Iraqi decisions are made by the Iraqis and we will protect our relations with others, including America."
Al-Kazemi promises businessmen to remove obstacles
Members of the Business Forum and the Chamber of Commerce in the American capital, Washington, confirmed to Prime Minister Mustafa Al-Kazemi, their readiness to invest in Iraq, while the latter pledged to remove obstacles facing American companies.
The media office of the Prime Minister said in a statement received by "Ultra Iraq" a copy of it, that Al-Kazemi "met, within the framework of his current visit to Washington, a number of members of the American Businessmen Forum and the American Chamber of Commerce, in the presence of the US Secretary of Energy Dan Proelt."
According to the statement, Al-Kazemi referred to "the importance of sustainable strategic cooperation with the United States, and with American companies and banks," stressing "the government's willingness to remove all obstacles to the work of American companies in Iraq."
And he indicated that "investment opportunities are available to American businessmen and companies," calling on "American banks to cooperate in the development of the Iraqi banking system, to keep pace with international banks as the basis for a major economic openness."
The Iraqi Foreign Minister said that America is a partner of Iraq, and we will continue to protect, preserve, deepen and expand this alliance
In turn, members of the Businessmen Forum and the American Chamber of Commerce expressed "the readiness of major American companies to work and invest in Iraq."