Some “Iraq News” Posted by Clare at KTFA 1-26-2025

KTFA:

Clare:  Central Bank of Iraq announces support for US investment opportunities

1/26/2025

 The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received on Sunday an official delegation from the United States headed by Steve Lutes, Vice President of the American Chamber of Commerce and President of the US-Iraq Business Council, in the capital, Baghdad.

A statement issued by the bank's media, received by Shafaq News Agency, stated that the meeting discussed strengthening banking and economic relations between Iraq and the United States, in addition to the upcoming visit of the Central Bank of Iraq delegation to Washington next April, which will include meetings with the American Chamber of Commerce and American companies.

Al-Alaq pointed out the desire of American companies to invest in the fields of energy, infrastructure and modern technology, stressing the importance of investing in the security stability witnessed by Iraq. The Governor of the Central Bank confirmed Iraq's support for the path of economic growth, with the provision of the necessary support to international companies, including American companies and banks, stressing the need for diversification in investment fields.

The two sides also discussed the mechanisms of international trade, and the process of Iraq's transition to full operation in foreign transfers through correspondent banks..LINK

Clare: The Central Bank receives an American delegation and discusses with it Iraq's foreign transfers

1/26/2025 Baghdad

The Governor of the Central Bank of Iraq, Ali Al-Alaq, met with an American delegation in the capital, Baghdad, on Sunday, and discussed with him how Iraq can move to fully operate in foreign transfers through correspondent banks.

The Central Bank said in a statement received by "Al-Eqtisad News" that "Al-Alaq received Steve Lutes, Vice President of the US Chamber of Commerce and President of the US-Iraq Business Council and his accompanying delegation in Baghdad."

According to the statement, during the meeting, they discussed banking and economic relations between the two countries, the upcoming visit of the Central Bank of Iraq delegation to Washington, and their meeting with the US Chamber of Commerce and American companies next April.

The meeting discussed the desire of American companies to invest in the energy, infrastructure and modern technology sectors and to invest in the security stability witnessed by Iraq, as indicated in the statement. 

The statement conveyed Al-Alaq's confirmation that the Central Bank "supports the path of economic growth in Iraq and provides the necessary support to international companies wishing to invest in Iraq, including American companies and banks," noting "the importance of diversification in investment sectors."

The two parties also discussed the mechanisms of international trade and the process of Iraq's transition to fully operate in foreign transfers through correspondent banks, according to the statement.  LINK

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Clare: Governor of the Central Bank: We provide the necessary support to international companies wishing to invest in Iraq, including American companies and banks.

1/26/2025

The Governor of the Central Bank, Ali Al-Alaq, confirmed that the Central Bank provides the necessary support to international companies wishing to invest in Iraq, including American companies and banks.

The Central Bank of Iraq stated in a statement: "The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, met today with the Vice President of the American Chamber of Commerce, Steve Lutes, and the President of the American-Iraqi Business Council and his accompanying delegation in Baghdad."

He pointed out that "the meeting discussed the banking and economic relations between the two countries and the upcoming visit of the Central Bank of Iraq delegation to Washington and their meeting with the American Chamber of Commerce and American companies next April."

He continued that "the meeting discussed the desire of American companies to invest in the energy, infrastructure and modern technology sectors and to invest in the security stability witnessed by Iraq. The two parties also discussed the mechanisms of international trade and the process of Iraq's transition to fully operating in external transfers through correspondent banks."

During the meeting, the governor stressed that "the Central Bank of Iraq supports the economic growth process in Iraq and provides the necessary support to international companies wishing to invest in Iraq, including American companies and banks," noting "the importance of diversification in investment sectors."  LINK

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Claare: Minister of Trade calls for holding a "Made in America" ​​exhibition in Iraq and the presence of American companies in the Baghdad Exhibition sessions

1/26/2025   Baghdad/  

Minister of Trade Athir Dawood Al-Ghariri discussed with the US Chargé d'Affaires in Baghdad, Ambassador Daniel Rubinstein, Vice President of the US Chamber of Commerce and Chairman of the Iraqi-American Business Council Steve Lutes, and the accompanying delegation, ways to enhance economic and trade relations between Iraq and the United States.

The Ministry of Trade said in a statement, "The Minister stressed during the meeting Iraq's keenness to strengthen its economic relations with the United States within the framework of the government's orientations towards approving and implementing economic reforms to improve the business and investment environment.

Al-Ghariri pointed out, according to the statement, the exceptional efforts made by the Ministry in coordination with government agencies to hold the third round of negotiations for Iraq's accession to the World Trade Organization after a 16-year hiatus, as Iraq submitted files for goods and services and reviewed economic reforms, including the legislation of the Intellectual Property Law.

The Minister explained: "Iraq seeks to simplify the procedures for the work of American companies inside the country to support trade and investment between the two countries," referring to self-sufficiency in local wheat during the past two years, with the continuation of work on the memoranda of understanding signed with the American side related to the country's needs.

He called on American companies to hold a "Made in America" ​​exhibition inside Iraq and organize a forum between the Iraqi and American private sectors to review investment opportunities and available projects, and hoped that American companies would be present in the sessions of the Baghdad International Fair.

For his part, Ambassador Rubinstein expressed his aspiration for more cooperation and openness between the two countries, referring to the economic reforms that Iraq is witnessing to improve the business and investment environment. He also announced preparations for a visit by a delegation of American businessmen to Iraq next April.

In turn, Steve Lutes thanked the Ministry of Commerce for its support for the work of American companies, praising the Iraqi efforts to improve the business environment and encourage investments.

The statement added: "The two parties agreed to enhance cooperation to expand the business base and strengthen economic and trade relations in a way that serves the common interests of the two countries."  LINK

Clare:  Al-Sudani confirms Iraq's readiness to coordinate between regional countries

1/26/2025  Baghdad

Prime Minister Mohammed Shia al-Sudani confirmed, on Sunday, Iraq's readiness to coordinate between the countries of the region, especially with Turkey, regarding developments in the regional arena, reiterating Iraq's rejection of Syria being an arena for conflict.

The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia Al-Sudani received Turkish Foreign Minister Hakan Fidan, where during the meeting, bilateral relations between the two countries were discussed, and a number of regional and international issues of common interest were discussed, especially developments in the region and events in Syria." 

The statement added, "The meeting discussed the latest developments in Syria, Gaza and Lebanon, and stressed the importance of adhering to the ceasefire."

He continued, "The meeting also discussed the importance of unifying efforts between the countries of the region in order to support its stability. In this regard, the Prime Minister affirmed Iraq's readiness to coordinate between the countries of the region, especially with Turkey, regarding the developments witnessed in the regional arena, reiterating Iraq's rejection of Syria being an arena for the conflict in which it works to establish stability, due to the impact of this on the region in general."

The Prime Minister stressed, according to the statement, "the government's follow-up on the bilateral relations file, and the implementation of the memoranda of understanding that were signed in light of his visit to Ankara last November, as well as within the framework of Erdogan's visit to Baghdad that took place in April of last year."

For his part, Fidan conveyed the greetings of the Turkish President to the Prime Minister, and expressed his country's desire for close coordination with Iraq regarding developments in the region, pointing to the desire to enhance cooperation in bilateral relations, in light of the two mutual visits of Mr. Al-Sudani and the Turkish President.

The Turkish Foreign Minister also reiterated his country's seriousness in working on the Strategic Development Road project, as well as cooperation in light of the memoranda of understanding signed between the two countries in the fields of energy, education, trade exchange, banking cooperation, and other fields.   LINK

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Clare:  Al-Sudani: Economic reforms have raised the level of foreign investments in Iraq

1/26/2025  Baghdad

Prime Minister Mohammed Shia confirmed, on Sunday, that the government has made significant progress in various aspects of economic reform and digital commercial and banking transformation, noting that economic reforms have been able to raise the level of foreign investment in Iraq. 

The Prime Minister's Media Office said in a statement, seen by "Al-Eqtisad News", that "Prime Minister Mohammed Shia al-Sudani received the Chairman of the US-Iraq Business Council, Vice President of the US Chamber of Commerce Steve Lotus."

He added, "The meeting reviewed trade and cooperation relations between Iraq and the United States, and efforts to prepare for the US Companies Representatives Forum, which will be held in Iraq during this year. The implementation of 18 agreements and memoranda of understanding, which were signed during His Excellency's visit to the United States last year, was also followed up." 

According to the statement, al-Sudani praised "Lotus's efforts in sponsoring and holding forums and meetings, especially with the Iraqi private sector," stressing that "the government has made significant progress in various aspects of economic reform and commercial and banking digital transformation," pointing to the continuation of efforts to legislate the intellectual property law and introduce this concept into school curricula; In order to keep pace with global trade development.

Al-Sudani explained that “economic reforms have raised the level of foreign investment in Iraq, and that American companies are invited to participate in the development renaissance that Iraq is witnessing, and the attractive and business-friendly investment environment.”

For his part, Lutz, according to the statement, praised “the efforts of the Iraqi government in the field of reform, stressing the desire of many American companies to enter the Iraqi market, and to establish promising partnerships with the Iraqi private sector, and to contribute to development and expand the scope of commercial and investment activities.”    LINK