IRAQ IS BACK

Iraqi Prime Minister's adviser, Mazhar Mohammed Saleh, has refuted claims suggesting that the United States intends to cease dollar shipments to Iraq if armed groups do not disarm by the September 30 deadline. This clarification comes amidst rising concerns regarding financial stability and the implications of disarmament on the Iraqi economy.

Saleh emphasized that the reports circulating about potential restrictions on dollar shipments are unfounded. The Iraqi government remains committed to ensuring a stable economic environment, and the flow of currency is crucial for maintaining market confidence and supporting local businesses.

The situation highlights the delicate balance between security and economic policy in Iraq, as the government navigates the challenges posed by armed groups while striving to foster a robust financial framework. As the deadline approaches, the focus remains on dialogue and cooperation to achieve disarmament without jeopardizing the nation's economic health.

Discussions aimed at enhancing cooperation in Iraq's transport sector recently took place between Transport Minister Wahab Salman Mohammed and a delegation from the Iraq Britain Business Council (IBBC), led by Baroness Emma Nicholson. The meeting, which occurred on Sunday, followed the delegation's prior visit to the General Company for Maritime Transport and the General Company for Ports of Iraq (GCPI) in Basra.

During this session, the parties explored various avenues for collaboration, particularly in the manufacturing of marine vessels and the enhancement of port dry docks. These initiatives are expected to significantly bolster Iraq's maritime capabilities and infrastructure.

Additionally, the discussions encompassed the development of human resources within the Ministry of Transport, focusing on specialized training programs and knowledge exchange. The collaboration is set to extend across multiple sectors, including aviation, air navigation, railways, maritime transport, and port operations.

The meeting was attended by representatives from several IBBC member companies, highlighting the strong interest in fostering bilateral ties and investment opportunities in Iraq's transport industry.

Patrick Pouyanné, the CEO of TotalEnergies, recently engaged in discussions with Iraqi Prime Minister Ali al-Zaidi in Paris, centering on the company's strategic initiatives in Iraq, particularly in the gas sector. During their meeting, it was revealed that TotalEnergies currently has oil investments in Iraq amounting to $12 billion, with plans to elevate this figure to $16 billion.

Prime Minister al-Zaidi emphasized the Iraqi government's commitment to enhancing associated gas investments, aiming for self-sufficiency in this critical resource. Additionally, he outlined ambitious targets to boost oil production to 10 million barrels per day within the next five years. As part of these efforts, preparations are underway for an international energy conference to be held in Baghdad, which aims to attract global attention and investment in Iraq's energy sector.

Pouyanné reaffirmed TotalEnergies' readiness to collaborate with Iraq in advancing its oil and energy initiatives, signaling a strong commitment to the region's economic growth and development.

Iraq's Prime Minister Ali al-Zaidi held a significant meeting with Édouard de Rothschild, the President of Rothschild & Co, in Paris on Monday. The discussions centered on enhancing Iraq's collaboration with international banking institutions, with a particular focus on advancing the country's banking sector and improving its credit rating.

During the meeting, Prime Minister al-Zaidi outlined the government's objectives for fostering a diversified economy, emphasizing the critical role that international financial institutions can play in realizing these ambitions. De Rothschild highlighted the numerous investment opportunities present in Iraq, underscoring the potential for international banks to contribute to the nation's development initiatives.

This engagement marks a pivotal step in Iraq's efforts to strengthen its economic framework and attract foreign investment, which is essential for the country's growth and stability.

The Iraq Britain Business Council (IBBC) recently conducted a significant visit to Basra, emphasizing the importance of maritime activities, member engagement, and collaboration with local business leaders. The IBBC team, consisting of Colin Findlay, Ali Mazhkour, and Dr. Ali Jawad, convened to discuss the future of the maritime sector in Iraq and to strengthen ties with key stakeholders.

During their visit, the IBBC team met with Chief Ali Latif, the newly appointed president of the Iraqi Supreme Maritime Authority (ISMA), and Captain Jazim, the deputy of the General Company for the Ports of Iraq (GCPI). These discussions were pivotal in aligning the objectives of the IBBC with the strategic goals of ISMA, particularly concerning the development of a Maritime Academy and a memorandum of understanding (MOU) aimed at fostering collaboration.

In conjunction with Mr. Ahmed Shaban, Chairman of the Maritime, Logistics, and Transportation Sector, the IBBC team engaged in a series of meetings with leaders from the Ministry of Transport. These discussions focused on the long-term development of Iraq's ports and the implications of the Development Road infrastructure project, which is expected to enhance trade routes and logistics in the region.

The full IBBC Maritime, Logistics, and Transportation Committee meeting took place at the Grand Millennium Hotel in Basra. Chaired by Mr. Shaban, the meeting brought together representatives from ISMA, GCPI, the Arabian Maritime Academy, and various IBBC members. Participants explored the sector's potential for growth and its critical role in supporting Basra's economy and Iraq's trade ambitions.

The IBBC also reaffirmed its longstanding relationship with the Basra Chamber of Commerce, meeting with First Vice President Mr. Imad Ghalib Hasan Assfoor. This collaboration is essential for addressing the current business challenges posed by regional crises, which the IBBC plans to address in an upcoming trade delegation to Baghdad.

In addition to business discussions, Dr. Ali Jawad visited Southern Technical University to attend the opening of a new Science and Technology Park. Meanwhile, Colin Findlay and Ali Mazhkour toured the Cadmus School and the Ishik School, both of which are committed to upholding international educational standards and fostering language skills among students.

The visit concluded with a reception hosted by Mr. Ismael Shakir of the Al Busttan Group, attended by over 30 representatives from IBBC member organizations. This gathering provided an opportunity for members to network, share insights, and strengthen their business connections. Colin Findlay expressed gratitude for the ongoing support from members and highlighted the importance of such engagements in facilitating tangible business activities. He emphasized that the IBBC's mission is to create a resilient network that can effectively navigate the challenges of the business landscape.

Construction is set to accelerate on a significant solar power project in Samawah, located in southern Iraq's Muthanna Governorate. The solar power station, which will be developed in two phases, aims to achieve a total capacity of 750 megawatts (MW).

The initiative is spearheaded by the Power Construction Corporation of China (PowerChina), a key player in the global energy sector. The first phase of the project will contribute an initial 250 MW of solar capacity, while the subsequent phase will expand this by an additional 500 MW.

Recent discussions between officials from Iraq's Ministry of Electricity and representatives from PowerChina focused on the project’s specifics and strategies to expedite its implementation. The meeting was led by Qais Ali Abd al-Hadi, the Director General of the General Company for Electrical Power Production in the South, highlighting the commitment to enhancing Iraq's renewable energy infrastructure.

This ambitious solar initiative not only aims to bolster the country's energy supply but also reflects Iraq's broader strategy to diversify its energy sources and invest in sustainable solutions for the future.

A delegation from the Iraq Britain Business Council (IBBC), headed by Baroness Emma Nicholson, recently engaged in discussions with Iraq's Finance Minister, Faleh Sari, to explore investment opportunities and enhance economic partnerships between Iraq and the UK. The meeting brought together representatives from various Iraqi and British companies, highlighting a collaborative spirit aimed at fostering growth.

During the discussions, Minister Sari emphasized the Iraqi government's dedication to bolstering the private sector and creating a conducive investment environment that attracts reputable companies and capital. This commitment is crucial for driving economic development and enhancing the overall business landscape in Iraq.

Baroness Nicholson articulated the IBBC's enthusiasm for expanding the presence and activities of both Iraqi and British firms within Iraq. She underscored the importance of strengthening connections between the two nations to unlock new avenues for partnership and investment across a diverse range of sectors.

The dialogue reflects a shared vision of mutual growth and collaboration, paving the way for future initiatives that could significantly benefit both economies.

A new agricultural pesticide manufacturing facility has officially opened in the Karma Island region of Anbar province. The Al-Tariq factory, which is linked to the General Company for Pharmaceutical Industries and Medical Supplies based in Samarra, was established through a collaboration with a private Iraqi pharmaceutical firm and supported by international specialists in the field.

This state-of-the-art facility features four integrated production lines, capable of producing 5,000 liters of liquid pesticides and five tonnes of powder pesticides daily. Additionally, it includes a dedicated production line for plastic pesticide containers. To ensure product quality and innovation, the factory is equipped with on-site laboratories for quality control and research purposes.

The Al-Tariq factory is set to introduce 27 different pesticide varieties aimed at combating a wide array of agricultural pests, pending the necessary registration and approval from the Ministry of Agriculture. This initiative is part of a larger strategy to enhance public-private partnerships, localize specialized industries, and diminish reliance on imported agricultural products.

The inauguration ceremony was attended by notable figures, including the Minister of Industry, Mohammed Nouri Ahmed, the Minister of Agriculture, Abdul-Rahim Jassim, the Governor of Anbar, the head of the Anbar provincial council, and the head of the Presidential Diwan. This development marks a significant step forward in bolstering Iraq's agricultural sector and promoting economic self-sufficiency.