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Iraqi PM discusses investment opportunities with US, German delegations

ERBIL, Kurdistan Region – Iraq’s Prime Minister Mohammed Shia’ al-Sudani on Monday held separate meetings with business representatives from the United States and Germany, reaffirming his cabinet’s commitment to creating more investment opportunities in the country.

Sudani first met with the head of the US-Iraqi Business Council Steve Lutes, discussing Baghdad-Washington relations in the fields of economy, health, and energy while also stressing the need to strengthen the Strategic Framework Agreement between the two countries.

“The Prime Minister emphasized the government’s commitment to creating a secure investment environment for international companies,” read a statement from Sudani’s office on the meeting, adding that the premier also highlighted the numerous investment opportunities present in Iraq.

Iraqi Trade Minister Atheer Daoud Al-Ghurairy on Thursday participated in a roundtable with the US-Iraqi Business Council in Washington expressed Iraq’s desire to develop economic and trade relations with the US.

The Strategic Framework Agreement between the US and Iraq, which went into effect in 2009, seeks to normalize Baghdad-Washington relations through setting long-term bilateral economic, diplomatic, cultural, and security cooperation.

The Iraqi PM also met with a delegation of German company representatives and Germany’s Ambassador to Iraq, Martin Jager, highlighting the growth of Baghdad-Berlin relations across various sectors, and discussing the implementation of the agreements Sudani signed during his visit to the European country in January.

Sudani said that his cabinet’s vision and program have created a favorable environment for international companies to invest in Iraq, which was not previously present. The Germans acknowledged Sudani’s commitment to developing Iraq’s economy and investment sector, expressing their enthusiasm to work in the country.

Sudani visited Germany in January, meeting with a number of the country’s top officials including Chancellor Olaf Scholz. The Iraqi primer also signed a number of memorandums of understanding (MOUs) with German companies on electricity.

Khalid Battal, Iraq’s Minister of Industry and Minerals, told Rudaw during the visit to Berlin that they want to facilitate the work of German companies seeking to invest in Iraq.


Source: Rudaw,  May 16, 2023


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