Iraq Economic News and Points To Ponder Late Friday Evening 7-17-26
U.S. Energy Secretary: We Are Working with Iraq to Build a Future Based on Investment and Prosperity
Iraqi News Ahency (INA) Friday, July 17, 2026 / Washington - INA – U.S. Energy Secretary Chris Wright said on Friday that Iraq has significant opportunities to achieve development and strengthen its strategic partnership with the United States.
Speaking at a business conference hosted by the U.S. Chamber of Commerce and attended by an Iraqi News Agency correspondent, Wright said the Iraqi representatives participating in the event "represent the driving force behind investment and partnerships with Iraq, namely the Iraqi government and companies."
"There is tremendous potential for progress in Iraq, including increasing oil production, advancing freedom and prosperity, and providing abundant energy for the Iraqi people," he added.
He said the private sector is the key driver of that progress through capital investment, technology transfer, and bringing skilled talent to Iraq to accelerate development and deepen the strategic partnership with the United States.
Wright said Prime Minister Ali Al-Zaidi had recognized Iraq's need for a partnership with the United States and for creating a business environment that would bring peace and prosperity to the Iraqi people.
"I am delighted to stand here today and witness the signing of agreements and partnerships, along with commitments to major investments in Iraq," he said.
Wright described the day as "a turning point" in the relationship between Iraq and the United States, saying it marked an important moment in ties between "one of the world's oldest, proudest, and most influential nations in shaping the world as we know it today—Iraq—and the United States of America."
He added, "I extend my sincere welcome to Iraqi Prime Minister Ali Al-Zaidi, who chose the United States for his first official foreign visit as prime minister. He recognized that Iraq's most important relationship in the coming period will be with the United States."
Wright also expressed his appreciation to Prime Minister Al-Zaidi, praising "his leadership and determination to transform Iraq and achieve stability, peace, and prosperity."
World Bank President To Al-Zidi: We Are Ready To Support Iraq In Preparing A Program Budget
Money and Business Economy News — Baghdad The President of the World Bank Group/WBG, Ajay Banga, affirmed the readiness to support Iraq in preparing its program budget.
The Prime Minister’s office stated in a statement received by (Al-Rabia) that “Prime Minister Ali Faleh Al-Zaidi met in Washington on Wednesday evening, Baghdad time, with the President of the World Bank Group/WBG, Ajay Banga, and his accompanying delegation, which included the President of the International Finance Corporation/IFC, Mr. Mukhtar Diop, and a number of senior World Bank officials.”
During the meeting, Al-Zaydi stressed that “Iraq is witnessing a high level of stability today, which will positively affect the economic and investment situation,” indicating that “the Iraqi economy will achieve clear growth in light of the policies and reforms that the government has begun to implement.”
He pointed out that "the government is paying special attention to reforming the banking sector and preparing a program budget, in order 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 "working to increase oil production to meet the requirements of development, in parallel with developing non-oil sectors and enhancing their contribution to the national economy."
He explained that "the government is proceeding with the establishment of 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 Iraqi private sector to be a key partner in the development process."
For his part, World Bank President Ajay Banga expressed his admiration for "what Iraq has achieved recently in consolidating stability and peace," stressing that "Iraq has good potential and resources capable of bringing about a broad economic transformation, if they are properly 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 formation of a large Iraqi banking holding company by merging a number of government banks, which would contribute to enhancing the efficiency of the financial sector and supporting the path of economic reform."
https://www.economy-news.net/content.php?id=71442
Prime Minister Receives Representatives Of Jpmorgan In Washington
Iraqi News Ahency (INA) Friday, July 17, 2026 Baghdad - INA - 7/17/2026 Prime Minister Ali Faleh Al-Zaidi received representatives of JPMorgan in Washington.
The Media Office of the Prime Minister said in a statement, received by the Iraqi news agency-INA that “Prime Minister Ali Faleh Al-Zaidi Received representatives of JPMorgan in Washington and agreed on the opening of a Bank Branch in Iraq to Finance Projects Implemented by U.S. Companies.”
Prime Minister Receives CEO of U.S. Excelerate Energy in Washington
Iraqi News Agency (INA) Friday, July 17, 2026 Baghdad - INA - 7/17/2026 Prime Minister Ali Faleh Al-Zaidi received the Chief Executive Officer of Excelerate Energy in Washington.
The Prime Minister's Media Office said in a statement received by the Iraqi News Agency (INA) that “Prime Minister Ali Faleh Al-Zaidi received today, Friday, in Washington, D.C., the Chief Executive Officer of Excelerate Energy. During the meeting, the two sides agreed to launch the implementation of the floating gas terminal project in Khor Al-Zubair.
Prime Minister Receives Starlink CEO in Washington
Iraqi News Agency (INA) Friday, July 17, 2026 Baghdad - INA - The Prime Minister Ali Falih Al-Zaidi met on Friday with the Chief Executive Officer of Starlink in Washington, D.C.
The Prime Minister's Media Office said in a statement, received by the Iraqi news agency –INA that “Prime Minister Ali Faleh Al-Zaidi received today, Friday, at his residence in Washington, D.C., the Chief Executive Officer of Starlink, whose company is preparing to launch operations in Iraq following its licensing by the Communications and Media Commission (CMC)”.
https://ina.iq/en/politics/50504-prime-minister-receives-starlink-ceo-in-washington.html
Prime Minister Meets with CEOs of US Companies HKN, GE Vernova, and Vantive in Washington
Iraqi News Agency (INA) Friday, July 17, 2026 Baghdad - INA - Prime Minister Ali Faleh al-Zaidi met on Friday with the CEOs of US companies HKN, GE Vernova, and Vantive in Washington, D.C., on the sidelines of the US Chamber of Commerce conference.
The Prime Minister's Media Office stated in a statement received by the Iraqi News Agency (INA) that "Prime Minister Ali Faleh al-Zaidi met separately with the CEOs of the US companies HKN, GE Vernova, Vantive, Google, and Commerce PLC, on the sidelines of the US Chamber of Commerce conference in Washington."
US Envoy: Iraq Can Anchor Regional Security, Trade Corridor
2026-07-17 / 10:24 Shafaq News- Washington US Presidential Envoy to Iraq Tom Barrack said on Friday that Iraq is leading a new regional security and strategic framework by linking the Gulf, the Levant, Turkiye, and Egypt through economic and infrastructure cooperation.
Speaking at the US-Iraq Business Summit in Washington, Barrack noted that diplomacy, intelligence, and military strategies often follow the private sector, labeling business leaders as the "best diplomats" in advancing energy, electricity, and regional connectivity projects.
"This project will shift dependence away from maritime shipping through the Strait of Hormuz toward overland routes and integrated logistics networks, reducing the strategic importance of the strait within two years.”
He also highlighted the importance of the "Middle Corridor," which stretches from Turkiye and Azerbaijan through Central Asia, saying it could transport vast quantities of natural gas to Europe. He described regional trade integration as "the real alternative" to military conflict.
Barrack criticized previous foreign policies toward the region, saying intervention and efforts to change governments had failed and that the region needs strong leaders with clarity and transparency to achieve prosperity.
He expressed confidence in Iraqi Prime Minister Ali Al-Zaidi's leadership and urged American and international businesses to support investment in Iraq, stressing, “such backing could help transform two decades of instability into a lasting security and economic partnership.”
Read more: Iraq-US investment deals depend on implementation
https://shafaq.com/en/Iraq/US-Envoy-Iraq-can-anchor-regional-security-trade-corridor