The American Chamber of Commerce told Shafaq News: We have huge opportunities in Iraq.

Shafaq News / Steve Lutes, Vice President of the U.S. Chamber of Commerce, who is currently visiting Iraq with the “largest economic delegation in history,” revealed on Wednesday that they are discussing the development of various sectors, including technology. While he announced that American companies in the energy and health sectors will visit Baghdad in the coming period, he emphasized the “huge” opportunities in the country.

Last Monday, a US delegation arrived in Iraq on the largest US trade mission, comprising representatives from 60 companies across various sectors.

“The American delegation was honored to meet with Iraqi Prime Minister Mohammed Shia al-Sudani and listened to his speech on relations between Iraq and the United States and ways to develop them,” Lutz told Shafaq News Agency.

The Vice President of the American Chamber of Commerce added, “The American economic delegation signed several important agreements with Iraq, some of which were attended by the Iraqi Prime Minister, and this was in coordination with the US Treasury Department.”

Lotts confirmed that “the US economic mission met with a number of ministers and will meet with others as well, and there is a discussion about developing the Iraqi technological and economic sector.”

The Vice President of the American Chamber of Commerce revealed that “the current delegation is the largest in history, and that American companies in the energy and healthcare sectors will be visiting Iraq in the coming period.”

Lutz noted that “this visit will be a new spark for developing relations between American economic and business companies and Iraq, especially given the many investment opportunities we seek to capitalize on in light of the long-term partnership with our Iraqi partners.”

The Vice President of the American Chamber of Commerce emphasized that “American companies have tremendous opportunities to develop various Iraqi sectors in the oil and gas sectors, and that the US Treasury Department believes that American companies are the strongest and most advanced, and therefore they can compete with and outperform other companies.”

Earlier today, during a press conference attended by a Shafaq News Agency correspondent, Lutz affirmed that the Treasury Department will play a role in developing the Iraqi economy. Meanwhile, the head of the Iraqi Economic Council, Ibrahim al-Baghdadi, stated that the country is faring better economically today than in previous years.

Al-Baghdadi stated, “Unfortunately, the recent years since the liberation have witnessed a significant decline in education in Iraq. However, I hope that it will develop again with the presence of the American University, which will save education and represent a lifeline for Iraq.”

He stressed that “we cannot forget the role of the United States in liberating Iraq from dictatorship. The United States is the world’s leading nation in various fields and is the one who has the credit for Iraq’s liberation.”

Al-Baghdadi pointed out that “the visit of the American delegation, consisting of more than 100 figures and more than 60 American companies, is evidence of the progress made in relations to develop the Iraqi economy,” adding that “two days ago, we launched the Private Sector Development Council, headed by Prime Minister Mohammed Shia al-Sudani, the First Vice President, the Minister of Planning, and the Second Vice President.”

Al-Baghdadi stated, “Iraq today is dozens of times better off than it was in the past, and we welcome any company that wants to work in Iraq to develop its industry and economy.”

Shafaq.com

Al-Sudani stresses the importance of expanding cooperation with JP Morgan

Prime Minister Mohammed Shia al-Sudani stressed on Tuesday the importance of expanding partnerships between Iraqi banks and JPMorgan Chase, noting the government’s readiness to provide all forms of support to strengthen this relationship.

A statement from the Prime Minister’s Media Office, received by Al-Sabah, stated that “Al-Sudani received a delegation from JPMorgan Chase, headed by the bank’s Deputy Director, Daniel Zelikow, on the sidelines of the Iraqi Banking Sector Reform Conference held in Baghdad.”

The statement added, “During the meeting, discussions focused on enhancing cooperation in the financial and banking fields, including the bank’s participation in financing various investment projects. Mechanisms for securing credits and financial transfers and ensuring their delivery to those entitled to them in Europe and the United States were also discussed, which will contribute to improving services provided to Iraqi traders and importers.”

Al-Sudani pointed to “the importance of expanding the scope of partnership between Iraqi banks and JP Morgan,” noting “the government’s readiness to provide all forms of support to strengthen this relationship.”

For its part, the JP Morgan delegation expressed its “willingness to increase cooperation with Iraq by expanding the number of correspondent accounts opened for Iraqi banks, and its willingness to finance a number of investment projects directly or through partner financial institutions.”

Alsabaah.iq

Al-Baldawi: The government still has the 2025 budget schedules, and delaying them violates the law.

Al-Maalouma / Baghdad…. Deputy Chairman of the Parliamentary Planning Committee, Mohammed Al-Baldawi, confirmed on Wednesday that the 2025 budget tables are still with the government and have not yet reached Parliament, noting that the government has not explained the reason for this delay.

Al-Baldawi said in a statement to Al-Maalouma Agency, “Amending Paragraph 12 of the Federal Budget Law was one of the reasons that led to the rearrangement of the tables.”
He pointed out that “they have not been completed by the government yet.” He also added that the Council of Ministers has not officially sent the tables to Parliament, expecting them to arrive soon.

Member of the Parliamentary Finance Committee, MP Hussein Mounes, confirmed in a previous statement to Al-Maalouma that the delay in sending the 2025 budget tables is a violation of the budget law itself as well as the Financial Management Law. It is an incorrect basis, considering that last year there was also a delay in the arrival of the tables, which creates confusion in the issue of monitoring and following up on budget implementation.

Almaalomah.me

Economist: Strengthening the private sector is key to stabilizing the labor market in Iraq.

Al-Maalouma / Baghdad… Researcher and expert in financial and banking affairs, Mustafa Hantoush, confirmed on Wednesday that the stability of the labor market in Iraq is closely linked to the development of the private sector and enabling it to perform its true role in supporting the national economy.

Hantoush said in a statement to Al-Maalouma Agency, “The Iraqi state does not face a problem in paying employee salaries, especially with the continued export of more than 3.3 million barrels of oil per day at prices exceeding $50 per barrel,” noting that “the real dilemma lies in the mismanagement of operating and investment expenses, which requires realistic and urgent solutions.”

He added that “the size of the domestic debt has reached about 83 trillion dinars, a number that calls for sounding the alarm bell and imposes the need for radical solutions, foremost among which is opening the way for the private sector to absorb the increasing numbers of graduates and young people seeking work.”

He explained that “stability of the labor market cannot be achieved through the government sector alone, especially with the high rates of retirement and the halt in new appointments.”

He warned that “continuing this approach will further complicate the crisis, making support for the private sector an inevitable strategic option for achieving sustainable economic development.”

Almaalomah.me

Government advisor: The dollar exceeds 40% of Iraq’s foreign currency reserves.

Shafaq News / The financial advisor to the Iraqi Prime Minister, Mazhar Mohammed Salih, revealed on Wednesday that more than 40% of the country’s foreign currency reserves are in US dollars.

Saleh told Shafaq News Agency, “The US dollar accounts for more than 40% of Iraq’s investment portfolio of foreign reserves,” noting that “this is due to the fact that oil revenues are received in dollars.”

He added that “Iraq’s foreign reserves, which have reached $110 billion or less, play an important role in protecting the national economy from external shocks,” noting that these reserves are diversified between various foreign currencies and gold in the national investment portfolio.

According to the Central Bank, Iraq has foreign exchange reserves of 130.8 trillion dinars, including 162.6 tons of gold.

Shafaq.com

Baghdad informs Washington that Iran is using “forged Iraqi documents” to sell its oil.

Minister of Oil Hayyan Abdul Ghani, on US-Iraqi talks regarding the accusations against…Iraq About SOMO’s involvement in selling Iranian oil as Iraqi to help…Iran In bypassing the issue of sanctions.

Abdul Ghani said in statements to state television, “US naval forces seized Iranian tankers carrying oil and found documents indicating that the oil was Iraqi, even though it was Iranian.”

He pointed out that “it later became clear that these documents were forged, as these Iranian tankers were forging Iraqi documents to sell oil to international companies as if it were Iraqi.”

He stressed that “we spoke with the American side and explained the truth of the matter, that these documents are forged and that we have nothing to do with them, and they understood the matter.”

During the past months, information circulated about SOMO’s involvement in exporting and smuggling Iranian oil, and that American sanctions would affect the company. However, the company previously denied this information. In general, many information and stories began to circulate about “American intentions” towards Iraq…are revealed and fall apart in succession as political leaders and government figures reveal that most of this information comes from a misunderstanding between the two sides, and that much of it has been retracted by the American side.

Alsumaria.tv

To compensate for Iranian gas, Iraq plans to build two floating platforms in the Gulf.

Bloomberg reported that Iraq is trying to address the electricity shortage caused by US sanctions on Iran by negotiating with several companies to establish two floating platforms at sea to store and transfer gas by next June.

The US report, translated by Shafaq News Agency, indicated that Washington had decided earlier this March not to renew the presidential waiver that had allowed Iraq to purchase electricity from Iran, as part of pressure from the administration of US President Donald Trump on Tehran to negotiate a new nuclear agreement. The report added that “this move made the Iraqi government need more gas to meet the growing demand for electricity .”

The report cited statements made by Iraqi Oil Minister Hayan Abdul Ghani on Sunday, in which he said, “Two floating platforms for storing liquefied natural gas (LNG) and converting it to gas will be built near the Khor al-Zubair port in Basra .”

The report drew attention to the Iraqi minister’s statement, in which he revealed that Iraq relies on domestic gas production to meet approximately 60% of its needs, while imports cover the remaining 40%. However, during peak consumption periods, this percentage increases to 50 %.

According to the report, the Iraqi government has also issued a tender to establish a fixed gas reprocessing platform at the Grand Faw Port. The report added that Iraq is attempting to limit the amount of gas it burns without utilizing it in order to reduce its gas imports, even as demand is increasing. It also seeks to completely stop gas flaring by the end of 2028 .

He added that “negotiations between Iraq and oil companies operating in the Kurdistan Region have reached advanced stages, according to the Iraqi Oil Minister, who also expressed his hope that exports from the region would resume within a week .”

The report stated that “Iraq has repeatedly announced progress in restarting the northern export pipeline,” noting that “the group representing the region’s oil producers has emphasized that it needs more clarity on the issue of compensation, and that the contracts necessary to resume exports have not yet been concluded . ”

The report noted that Iraq had pledged to honor its OPEC+ quota after the northern crude oil export pipeline was restarted, but has yet to clarify how it will achieve this.

Shafaq.com

Rafidain Bank launches a banking transactions monitoring system in a number of its branches.

Rafidain Bank, in partnership with leading global and international institutions, announced the launch of the Daily Financial Transactions Monitoring (AML) system in six major branches of regulatory importance: Al Waziriyah, Al Muheet, Al Rafie, Al Dora Oil Complex, Zurbatiyah, and Safwan.

The bank said in a statement received by {Euphrates News} that: “The remaining branches will be included successively,” indicating that “this achievement comes as part of the bank’s commitment to implementing strict international standards in combating money laundering and terrorist financing, which is a basic requirement to enhance confidence in the Iraqi banking sector regionally and globally.”

He explained, “The new system enables advanced monitoring and analysis of financial transactions, which helps detect suspicious activities and reduce the risks associated with financial crimes. It also provides accurate centralized audit procedures by the Anti-Money Laundering Reporting Department to ensure full compliance with international regulations.”

The bank added, “This transformation also represents a qualitative leap, as it keeps pace with the latest global banking technologies, enhances transparency, and reduces reliance on paper-based procedures. This contributes to accelerating inspection and auditing processes and achieving unprecedented levels of financial security and economic stability.”

He stated, “With this step, the bank affirms its leadership in developing the Iraqi banking sector and preparing it for integration into global financial markets, which will enhance the confidence of investors and international correspondents and position Iraq in a leading position within the regional and international financial system.”

Alforatnews.iq

Among them is a strategic bomber… a joint air exercise between Iraq and the United States

Iraqi Air Force aircraft conducted a joint military exercise with US Air Force aircraft.
A statement by the Security Media Cell, a copy of which was received by {Euphrates News}, stated that “to develop the capabilities of the Iraqi Air Force and to raise readiness, a joint military exercise was carried out between a formation of Iraqi F-16 aircraft and a formation of US Air Force B-52 (strategic bomber) and F-15 aircraft.”

The statement added, “This exercise demonstrated the Air Force’s high readiness to confront security challenges.”

He pointed out that “the exercise aims to strengthen military relations, exchange expertise in planning and implementation, unify the concept of joint action, and open new horizons for future military cooperation between several countries, including France, the United States, and Italy.”

Alforatnews.iq