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Washington discussions... expectations of achieving great economic results
Economical 04/14/2024
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Hussein Thaghb
Economic affairs specialists are counting on achieving great results during Prime Minister Muhammad Shiaa Al-Sudani’s current visit to Washington, related to various economic files, especially investment, energy, agriculture and technology, as well as the possibility of reaching a settlement regarding the file of the banks sanctioned by the US Federal Reserve.
They stressed that the visit, which was described as “historic,” will constitute an important transition at the level of economic and investment relations between the two countries, in addition to being a starting point for achieving a package of development achievements through success in attracting specialized companies in various fields. Despite the fact that discussions on activating the strategic framework agreement between The two countries, however, specialists believe that the “economic aspect” could be one of the provisions of that framework agreement between the two countries, and that it will be an essential introduction to activating the investment climate and paths of economic cooperation in vital and important areas, most notably the energy, science and technology sector, and encouraging technological companies.
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, confirmed that “the visit of Prime Minister Muhammad Shiaa Al-Sudani comes at the appropriate time as everyone knows that there is an interconnection in Iraq’s financial track with the US Federal Reserve, and that most of the country’s financial transactions are based on the US dollar.”
Tariq indicated to “Al-Sabah” that Iraq is moving to strengthen the banking system with the support of the government, which has begun to pay great attention to the financial sector, pointing out that strengthening Iraq’s financial relations with the countries of the world represents an important step that can create a banking system capable of supporting the development it seeks. Iraq is looking forward to achieving it, taking advantage of the amount of wealth it possesses.
Tariq pointed out that tracking financial services in the country indicates a continuous rise in the graph of these services in a way that is consistent with the goals of the association and the public together, as there has become a clear interaction between the two parties, especially in the electronic payment and electronic financial services section.
He stated that the Prime Minister's visit to the United States will have a positive impact in all circumstances, as strengthening financial and economic relations with the world's largest economies represents an important step that enhances the country's capabilities, especially in the financial aspect.
For his part, the economic expert, Dr. Ali Dadoush, explained the possibility that this visit would achieve a number of economic gains, especially in the field of energy, investment, agriculture and industry.
Speaking to {Al-Sabah}, Daadoush said: “Dialogue with American companies with the aim of completely resolving the electricity file within a specific period of time and by concluding contracts under the strategic agreement, can be a basic pillar of Washington’s negotiations, as well as attracting companies specialized in developing agriculture and working on “Creating an economic boom in this aspect and establishing projects for commercial agriculture.”
The spokesman stressed the necessity of holding dialogues with American energy management companies with the aim of investing in minerals in Iraq, especially in the western and northern regions, where these minerals abound, which have come to represent Iraq’s future after oil, in addition to the necessity of discussing the development of the health sector, as it is of equal importance. The rest of the sectors.
Daadoush believes that the discussions between the two countries should include attracting investments to develop the Iraqi economy in general and all three types of transportation.
According to the government spokesman, Bassem Al-Awadi, to the Iraqi News Agency “INA”, the visit includes discussing ways to “move to various fields of cooperation, which could include investment, energy, economy, agriculture, etc., especially since the United States is a pioneering country in technology,” noting that “it is Among the files that will also be discussed during the visit are the financial file and what is related to the decisions of the US Treasury, the influence of Iraqi banks, and the debts owed by Iraq.
While the financial advisor to the Prime Minister, Mazhar Muhammad Salih, believes that “the visit of Prime Minister Muhammad Shia al-Sudani to Washington is one of the most important visits in the history of diplomatic relations between Iraq and the United States, which will undoubtedly serve the interest of strengthening the fabric of bilateral relations between the two countries,” pointing out that “this The visit will be an essential introduction to activating the investment climate and economic cooperation paths in vital and important areas, most notably the energy, science and technology sector, and encouraging major technological companies in the United States to take on their vital role in the areas of reconstruction and building productive economic partnerships with activities and branches of the national economy, especially the Iraqi private sector.
He added, “Aspects of financial and banking cooperation will form an important pillar in supporting the efforts of the United States to support and strengthen the financial and banking market in Iraq, whose stability and growth are the objective basis for strengthening economic, trade, and investment ties between the two friendly countries,” indicating that “this visit will be in the interest of the national economy and put in At the same time, there is a road map that will be clearer and more accurate and consistent in charting the future of relations between the two countries on positive, solid, long-term foundations.”
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