Central Bank discusses in Washington the re-integration of banks banned from the dollar
The Central Bank of Iraq discussed in Washington the re-integration of banks banned from the dollar, in addition to contracting with electronic payment companies.
The video for this blogpost is below here:
The Central Bank issued a statement, seen by "Ultra Iraq", regarding the visit of the delegation headed by the Governor of the Central Bank, Ali Mohsen Al-Alaq, to the United States of America, in which he said that the delegation discussed the use of electronic payment cards and ways to organize and stimulate their use in line with Iraq's trend towards electronic payment.
This came "during separate meetings with a group of companies such as (Visa, Mastercard and MoneyGram), as the international auditing company (KPMG) presented an extensive analytical presentation of the uses of these cards, supported by recommendations and proposals to enhance organized use and accommodate the significant increase in citizens' use of these cards."
The statement added, "The parties gathered during the negotiations praised the important steps in enhancing the banking sector reforms, the most important of which is the contract that the delegation of the Central Bank of Iraq concluded with the company (Oliver Wyman) to conduct a comprehensive review of the conditions of Iraqi banks, especially banks prohibited from dealing in the US dollar, as the company will work to develop practical solutions to reintegrate these banks into the Iraqi and international banking sector, in addition to improving the level of banks' procedures in line with international standards."
He continued: "This initiative aims to facilitate the process of establishing direct banking relations, and improve the quality of services provided by banks in a way that serves the Iraqi economy, as the company is scheduled to start its operations in the coming period."
Oliver Wyman Company and lifting sanctions on banks banned from the dollar
The Central Bank of Iraq has contracted with Oliver Wyman, a global consulting firm that has the ability to “restructure companies to succeed in difficult times, build a new strategy in banking, and be a leader in risk, strategy, and human resources, helping clients navigate a dynamic environment across four global firms.”
A firm like Oliver Wyman can therefore help sanctioned Iraqi banks understand the sanctions imposed on them, work on strategies to mitigate their impact, and even help remove these sanctions in some cases.
Legally, the firm can help Iraqi banks understand international laws and sanctions applicable to them, identify any legal risks associated with their activity, and then provide recommendations on how to improve banks’ compliance with international sanctions, and develop plans to mitigate risks. In addition, the firm will help Iraqi banks communicate with international government agencies to learn more about the sanctions imposed on them, or to request “exceptions or mitigations,” by providing training programs for employees in Iraqi banks to develop their skills in the field of sanctions compliance.
From the above, we conclude that Oliver Wyman can play an important role in helping Iraqi banks understand and implement international sanctions effectively, and then submit a recommendation to the Treasury Department and the Federal Reserve that paves the way for lifting the sanctions.
Finance: Iraq maintains its credit rating and foreign exchange reserves level
The Ministry of Finance confirmed, on Sunday, that Iraq has maintained its credit rating and the level of foreign currency reserves.
The ministry said in a statement, seen by "Al-Eqtisad News", that "in the latest report issued by Standard & Poor's Credit Rating Agency (S&P), Iraq maintains its credit rating at B- / B with a stable outlook, indicating financial and economic stability in Iraq."
It added, "The new rating reflects the ongoing economic and financial reform policy pursued by the Ministry of Finance, in addition to maintaining the level of foreign currency reserves that exceed the external public debt and fulfilling other external financial obligations as a result of the stability of crude oil prices." It continued,
"The agency's report indicated the possibility of improving Iraq's credit rating in the event of an increase in the economic growth rate, diversification of the state's oil and non-oil public financial revenues, an increase in the per capita income share of the national income, and the continuation of financial and economic policy reform measures."
Parliamentary Economy Committee Discusses Amending the "Investment Law"
The Iraqi legislative arena is currently witnessing intensive discussions about the fourth amendment to Investment Law No. 13 of 2006, as amended, in light of the significant expansion of investment activity in the country in recent years.
These discussions come within the framework of efforts aimed at improving the investment environment and addressing the gaps in the current law.
In a press interview followed by “Economy News”, member of the Economic Committee, Diaa Al-Hindi, confirmed that the proposed amendment is “important and necessary” due to the many problems that the current law suffers from, explaining that “the current law requires fundamental amendments in several aspects, including the mechanism for selecting heads of bodies and members of the board of directors in bodies, in addition to the conditions for granting and withdrawing investment licenses, additional extensions, and grievance procedures.”
Al-Hindi pointed out that the amendment seeks to address those issues that the current law did not adequately address, which negatively affects the investment climate in Iraq.
Prime Minister's Advisor Announces Increase in Non-Oil Revenues Compared to Previous Years
The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh, announced today, Sunday, that non-oil revenues have increased compared to previous years, while pointing to two factors that contributed to maximizing revenues.
Saleh told the Iraqi News Agency (INA): "There are tangible positive indicators in the growth of non-oil revenues for the year 2024 compared to previous years that reached record levels," explaining that "the development of oil and non-oil revenues (at the semi-annual level) between 2023 and 2024 has shown a distinctive growth in revenues in general, and non-oil revenues in particular, as these available financial digital data indicated tangible levels of financial revenues."
He pointed out that "oil revenues (semi-annual) for the year 2023 amounted to 53.88 trillion dinars, while non-oil revenues amounted to nearly 0.42 trillion dinars (during the six months of the same year 2023)," indicating that "oil revenues in the first half of the year 2024 amounted to 58.80 trillion dinars, while non-oil revenues (at the end of the first half of the year 2024) rose to reach 7.18 trillion dinars."
He added: "This is a major development in the public financial capabilities during the current year to maximize its resources from non-oil sources," adding that they are "clear trends that have taken their practical course, relying primarily on a new approach to tax reforms (in both direct and indirect forms)."
Saleh added, "The positive development in non-oil revenues is due to two important factors, the first: the broad applications of government policies in the field of public finance reform (organizationally and procedurally) through paths that are in line with the principle of maximizing non-oil revenues stipulated in the government's program for financial reform, which stipulates raising the contribution of non-oil revenues to 20% of total annual revenues compared to the previous low rates."
Saleh stated that “the Council of Ministers approved earlier this year 8 new packages to reform the country’s tax system, led by the principle of expanding tax bases, especially those that are hidden, evading or neglecting annual tax accounting. Two of these packages have been launched to date, and the rest of the packages will be launched sequentially and gradually within the government’s reform policy in the financial field and maximizing the state’s resources from sources of income and wealth outside the oil sector.”
He pointed out that "the second factor stems from the importance of implementing e-governance processes, especially the serious progress in implementing digital service systems in cooperation and technical and organizational assistance provided with financial and commercial bodies and institutions affiliated with the United Nations."
He explained that "the adoption of digital applications at border crossings and customs sites, which have taken important aspects of auditing and estimation operations, in addition to the expansion of the scope of digital customs and tax collection related to electronic payment, has worked to maximize non-oil financial resources and control cash flows for the benefit of the treasury, which is a matter that has begun to serve the integration of procedures for implementing the unified treasury account and imposing financial discipline on cash flows in the federal public finance at the same time."
The Central Bank of Iran sold 320 billion Iraqi dinars to visitors
Iranian media revealed, today, Sunday, that 1.6 million Iranian visitors purchased the Iraqi currency in Iran before heading to Iraq to perform the Arbaeen pilgrimage.
Tala website reported that from August 7 to September 1, more than 1.6 million people received the "Arbaeen Coin", at a rate of 200,000 Iraqi dinars for each visitor, to meet their needs in Iraq.
He explained that selling dinars to visitors is a very good step, and has been taking place for two years, and saves visitors the trouble of converting their currency in Iraq into Iraqi currency, and Iraqi dinars can be obtained at a certain price for purchase directly from Iranian banks.
The website quotes experts as saying that in general there is no problem in providing the dinar from the point of view of the existence of the Central Bank, and next year the amount will be increased to more than 200 thousand dinars for each visitor.
Arbaeen visitors who travel to Iraq by air can obtain $500 in travel currency in addition to 200 thousand dinars in Arbaeen currency from the ATMs located at Imam Khomeini International Airport.
According to the announced figures, the Central Bank of Iran sold 320 billion Iraqi dinars to visitors entering Iraq, while questions remain about where the Central Bank of Iran gets the Iraqi dinars from, and whether they are one of the payments that Iraq spends on Iran to settle some import transactions that cannot be paid in dollars.
Al-Sudani: The government pays great attention to digital transformation at the state level
Prime Minister Mohammed Shia Al-Sudani received today, Sunday, representatives of the world's leading software company (SAP). During the meeting, they discussed the executive summary provided by the company for a roadmap for digital transformation in Iraq.
Al-Sudani stressed, according to the government statement received by {Euphrates News} a copy of it, that: “Iraq has gone through decades in which it has suffered from wars and siege, which caused it to be cut off from the world during a sensitive period of technological development and the launch of the current digital stage, which prompted the government to pay great attention to digital transformation at the state level, and a higher committee was formed headed by him personally and with the membership of ministers and heads of relevant authorities, to determine the priorities that enable the country to launch strongly in this field,” indicating “the start of a comprehensive review of what has been achieved, with the aim of strengthening what is right and building on it.”
The government statement added that "the roadmap presented by SAP aims to enhance governance, drive economic growth, and improve public services through the strategic implementation of digital technologies, conduct a general assessment of the country's digital infrastructure and workforce skills, strategic planning in critical sectors such as healthcare and education, and work with the government to address various challenges, in order to enhance cybersecurity measures, and enhance digital awareness across all age groups."
He added, "The company's solutions will simplify operations, enhance citizen engagement, increase transparency in infrastructure and transportation sectors, support smart city initiatives, and create jobs, leading to improved public services and ensuring digital inclusion for all citizens."
Al-Sudani follows up with SAP Global Software Company on digital transformation map in Iraq
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Prime Minister Mohammed Shia Al-Sudani received today, Sunday, representatives of SAP, a global leader in software, and during the meeting, they discussed the executive summary of the roadmap for digital transformation in Iraq presented by the company. Al-
Sudani stressed during the meeting, according to a statement from his office, that Iraq has gone through decades in which it has suffered from wars and siege, which caused it to be cut off from the world during a sensitive period of technological development and the launch of the current digital stage, which prompted the government to pay great attention to digital transformation at the state level, and a higher committee was formed headed by Al-Sudani personally and the membership of ministers and heads of relevant authorities, to determine the priorities that enable the country to take off strongly in this field, indicating the start of a comprehensive review of what has been achieved, with the aim of strengthening what is right and building on it.
The roadmap presented by SAP aims to enhance governance, drive economic growth, and improve public services through strategic implementation of digital technologies, conduct a general assessment of the country’s digital infrastructure and workforce skills, strategic planning in critical sectors such as healthcare and education, and work with the government to address various challenges, in order to enhance cybersecurity measures, and enhance digital awareness across all age groups.
The company’s solutions will simplify processes, enhance citizen engagement, increase transparency in infrastructure and transportation sectors, support smart city initiatives, and create jobs, leading to improved public services, and ensuring digital inclusion for all citizens.
The first of its kind, with the presence of the President of the Republic... a "purely Kurdish" meeting in Baghdad
MP for the Patriotic Union of Kurdistan, Gharib Ahmed, confirmed that a meeting was held in Baghdad on Sunday evening (September 1, 2024), which included Kurdish political forces and in the presence of President of the Republic Abdul Latif Rashid at the home of the Second Deputy Speaker of Parliament, Shakhwan Abdullah.
Ahmed said in an interview with Baghdad Today, "The meeting was held at Abdullah's house, in the presence of Rashid, all the Kurdish parties, and the Kurdish ministers in the government of Mohammed Shia al-Sudani only."
He stressed that "the top priority on the agenda of the meeting was the salaries of Kurdistan employees, and it aims to develop the relationship between Baghdad and the region in all aspects and adopt the issue of partnership, as it aims to unify the Kurdish position in Baghdad."
This meeting is the first of its kind, as the Kurdish forces in Baghdad have not met at one table since the departure of Jalal Talabani, especially after the polarizations that struck the Kurdish ranks and their unity, as observers see it.
Schlumberger signs Iraq Training Agreement
The Arab Institute for Oil and Schlumberger have signed a cooperation agreement at the Iraqi Ministry of Oil, focusing on training and development for the sector's workforce.
Bassem Mohammed Khudair, the Deputy Minister for Extraction Affairs, stated that this memorandum aligns with the ministry's strategy to enhance technical and engineering skills.
Schlumberger's Executive Director in Iraq, Waseem Al-Azmeh, emphasized the company's commitment to using its expertise to develop the skills of Iraq's oil sector employees.
Hisham Yass, General Director of the Training and Development Department, highlighted that this partnership is a significant addition to the ministry's training program, to be implemented through the Arab Institute for Oil, which is responsible for certifying training programs.
Ghaleb Mohammed Ali, the Deputy Director of the institute, expressed hope that this collaboration will help achieve the ministry's goals in improving the performance of its workforce.
Iraq seeks to transform international coalition mission into bilateral relations
Prime Minister Mohammed Shia al-Sudani received today, Sunday, the commander of the international coalition mission to combat ISIS in Iraq, General Kevin Leahy, in the presence of the US Ambassador to Iraq.
During the meeting, the technical dialogue between the two sides was discussed to end the mission of the international coalition in Iraq, and to transfer the mission to the framework of bilateral relations between Iraq and the countries participating in the coalition, in addition to continuing cooperation in the field of training, expertise and information with the Iraqi security forces.
The Prime Minister stressed that the remnants of the terrorist ISIS no longer pose a threat to the Iraqi state, and its elements have turned into groups hunted in remote areas for the purpose of concealment, as our armed forces continue their military operations to track down any traces or burrows of these terrorists.
Business Impact Conference – Iraq (BICI) kicks off in Erbil
36 companies collaborate to create positive, inspiring and sustainable work environments
The Business Impact Conference – Iraq (BICI) kicked off today in its first session with the distinguished participation of 36 Iraqi companies, where entrepreneurs and business leaders meet to start the process of collective learning on how to create positive and sustainable work environments. The conference aims to promote the concepts of trust, unity, and diversity within Iraqi work environments, which contributes to improving performance and increasing productivity in the long term.
On the first day of the conference, the sessions began with a welcoming speech followed by a general introduction to the conference objectives and its importance in the local context. The agenda included interactive sessions and open discussions aimed at exploring and developing effective working practices.
he first session, titled “Building Positive Work Environments,” was led by Mr. Fahim Da’at Al-Thakreen, Founder of Popcorn Marketing, who provided valuable insights on how to create a work environment that encourages collaboration and innovation.
This was followed by a “Trust” session presented by Heba Hamadeh, General Manager of Cedars International School, which focused on the role of trust in strengthening relationships within teams and clients. The program also included small study sessions and group discussions to deepen understanding and exchange experiences among participants.
After a lunch break and group photos, the conference resumed with a session on “Unity and the Power of Diversity,” presented by Ali Alwan, HR Manager at Ramlah Real Estate Development. This session discussed how to leverage cultural and intellectual diversity to achieve integration and unity in the workplace. The first day concluded with a session on “Fixing the Roots, Not the Branches,” which focused on an open discussion to explore radical solutions to the challenges facing workplaces.
The conference continues tomorrow for its second day, focusing on growth and collective activism. The fifth session, titled “Growth,” will be led by Rawaa Al Saqr, founder of Sagerlabs, who will present practical strategies for driving growth in companies. After group study sessions and a short break, the “Activity” session will bring participants together for an artistic workshop that promotes team spirit and creativity.
The second day concludes with the “BICI Process and Units” session, which will review the outcomes of the conference and identify next steps to enhance business impact in Iraq.
AUG 31 2024
Economist: Kurdish traders' entry into the dollar selling platform contributed to lowering the exchange rate - Urgent
Today, Saturday (August 31, 2024), the economic expert and academic at Cihan University, Nawar Al-Saadi, said that Kurdish traders benefited from the Iraqi government’s official dollar selling platform and contributed to reducing the exchange rate.
Al-Saadi told Baghdad Today, "There is an entry of traders from the Kurdistan Region into the official dollar selling platform, and these traders benefited from obtaining the dollar at the official exchange rate, instead of buying from the parallel markets that witness higher prices," indicating that "this influx of dollars into the market contributed greatly to increasing the supply, which led to reducing the price."
“The issue is not limited to this factor alone, as Iraqi markets suffer from frequent fluctuations due to economic and political instability, and speculators exploit any change in the market to achieve quick gains, which increases chaos in the exchange market,” he added, noting that “rumors about possible changes in the exchange rate have prompted many to sell the dollar at low prices for fear of future declines, which has increased pressure on the dollar price.”
Al-Saadi said, "There are ongoing discussions between the Central Bank of Iraq and the US Federal Reserve, which could have a significant impact on the exchange rate," stressing that "the results of these meetings will be decisive in determining the future direction of the dollar price in the Iraqi market. If specific agreements are reached, we may see significant changes in the exchange rate based on those results."
It is noteworthy that the financial affairs specialist, Nabil Jabbar Al-Tamimi, confirmed on Saturday (August 3, 2024) that the dollar exchange rate in the parallel market will remain higher than the official price due to the failure of the Central Bank to find solutions for black transfers.
Al-Tamimi told Baghdad Today, "The continued rise in the dollar exchange rate in the parallel market is due to the continuation of black transfers to finance some foreign trade by some merchants, without finding any solutions for these merchants by the Central Bank of Iraq."
He explained that "the Central Bank of Iraq is required to find quick solutions and procedures for these traders, especially small traders, who have almost daily trade with Iran, Syria and some other countries banned from dealing in dollars."
He pointed out that "these traders are moving towards the black market in order to finance their trade, and this is what leads to the exchange rate remaining high in the parallel market by a large difference from the official price, and this is the responsibility of the Central Bank, as it is responsible for this file."
The dollar exchange rate returned to rise relatively today, touching 150 thousand on the stock exchange, maintaining this level since Eid al-Adha, where it rose from 1450 dinars to around 150 thousand dinars or less, and has stabilized in this range until now.
Iraq elected to chair the Group of 77 and China at the United Nations
The Ministry of Foreign Affairs announced, today, Saturday (August 31, 2024), the selection of Iraq to chair the Group of 77 and China ( G77 ) at the United Nations for the year 2025, after the Asia-Pacific Group meeting held to discuss Iraq's nomination for this position.
The ministry said in a statement received by "Baghdad Today", that "the Chargé d'Affairs of the Permanent Mission of the Republic of Iraq to the United Nations in New York, Abbas Kazim Obaid, delivered a speech in which he affirmed Iraq's vision for its role during its presidency of the group, highlighting the main axes of work and stressing Iraq's commitment to the basic principles of the group, especially with regard to supporting the goals and aspirations of developing countries in achieving economic, technological, and social development.
Obaid stressed that "Iraq will work to provide all the elements of success for this presidency, which is the first for Iraq since the establishment of the group, as Iraq was one of the founding countries 60 years ago.
The statement added, "At the end of the meeting, the resolution was unanimously adopted to support the Republic of Iraq to assume the presidency of the Group of 77 and China ( G77 ), as the member states offered congratulations to Iraq and expressed their readiness to support it in its tasks during this important presidency. In another speech, the Chargé d'Affaires expressed his gratitude for the support and endorsement of the Asia-Pacific Group and its confidence in entrusting this responsibility to Iraq, stressing his readiness to work and cooperate with the member states to achieve common goals.
It is worth noting that the Group of 77 and China is the largest group of countries in the United Nations, with 134 member countries.
Parliamentary Committee Holds Kurdistan Responsible for Obstructing the Approval of the Oil and Gas Law
Member of the Parliamentary Oil and Gas Committee, Alaa Al-Haidari, strongly criticized the Kurdistan Regional Government, holding it responsible for obstructing the approval of the Oil and Gas Law.
Al-Haidari said in an interview followed by “Al-Eqtisad News” that “there is difficulty in passing the law due to the lack of a political agreement and the regional government’s failure to implement the concluded agreements.”
Al-Haidari pointed out that “several meetings were held in the presence of officials in the Ministry of Oil and government advisors, with the aim of reaching an agreement on the law, but those efforts have not borne fruit so far.”
He added, "The Oil and Gas Law is one of the laws that has been stalled in the House of Representatives, as it has remained on the shelves for more than five parliamentary sessions."
Al-Haidari explained that “the government program included voting on the law in the House of Representatives, and if approved, it will contribute to ending the controversy between the region and the center, and provide fair direction for wealth within the framework of the constitution.”
Al-Haidari concluded his statement by stressing that “the approval of the law will ensure the fair regulation of oil exports and oil and non-oil revenues, which will spare the country further problems and obstacles between the region and the center.”
Central Bank meets with electronic payment companies and contracts with an international auditing firm in New York
The Central Bank of Iraq confirmed on Saturday that its governor, Ali Mohsen Al-Alaq, met with a number of electronic payment companies and signed a contract with an international auditing firm in New York.
The Central Bank said in a statement, seen by "Economy News", that the Central Bank delegation "headed by the Governor of the Central Bank Ali Mohsen Al-Alaq to the United States of America, discussed the use of electronic payment cards and ways to regulate and stimulate their use in line with Iraq's move towards electronic payment."
Al-Ban added that this came "during separate meetings with a group of companies such as (Visa, Mastercard and MoneyGram), as the international auditing firm (KPMG) presented an extensive analytical presentation of the uses of these cards, reinforced with recommendations and proposals to enhance organized use and accommodate the significant increase in citizens' use of these cards."
The statement stressed that the parties praised "during the negotiations the important steps to enhance the banking sector reforms, the most important of which is the contract that the delegation of the Central Bank of Iraq concluded with the company (Oliver Wyman) to conduct a comprehensive review of the conditions of Iraqi banks, especially banks prohibited from dealing in the US dollar, as the company will work to develop practical solutions to reintegrate these banks into the Iraqi and international banking sector, in addition to improving the level of banks' procedures in line with international standards, as this initiative aims to facilitate the process of establishing direct banking relations, and improve the quality and type of services provided by banks to serve the Iraqi economy, as the company is scheduled to start its work in the coming period."
After the success of the recent negotiations in Washington, an expert identifies indicators of a decline in demand for the dollar
Financial and economic researcher Alaa Jaloub Al-Fahd confirmed today, Saturday (August 31, 2024), that the Central Bank succeeded during the recent negotiations in Washington in diversifying the basket of commercial currencies, indicating that this will lead to a significant decrease in demand for the dollar.
Al-Fahd said in an interview with Baghdad Today, "Within the discussions of the Central Bank of Iraq during the past hours with the US Federal Reserve and the US Treasury, which lasted for three days, 13 Iraqi banks entered into direct foreign correspondence (remittances) and diversified the currency basket."
He explained that "there will be commercial transactions in the UAE dirham, the Indian rupee and the Chinese yuan, and this gives the Iraqi government flexibility in diversifying the basket of commercial currencies."
Al-Fahd added, "The dollar is currently the master of commercial transactions in Iraq, as it is the only source of oil revenues sold in dollars, and the reserves of the Central Bank of Iraq are in US dollars, and for this reason it is the basic currency for foreign trade."
He added, "After diversifying the basket of foreign currencies for foreign trade, there will be a decrease in the issue of pressure on the dollar, and most of the demand for the dollar currently is not a local demand, but rather a demand from neighboring countries, due to the sanctions on those countries, and this demand will decrease significantly after diversifying the basket of currencies in foreign trade transactions."
The Central Bank announced, yesterday, Friday (August 30, 2024), the participation of 13 Iraqi banks in the external transfer, indicating that this step comes within the efforts to support economic growth and expand the horizons of international cooperation with global markets.
The bank said in a statement that the new phase of foreign transfer operations has begun, which is an important step aimed at enhancing the diversity of currencies and facilitating international transfer operations, noting that this announcement came after reaching an agreement on the mechanisms for regulating these operations, as it will include dealing in the euro, Chinese yuan, Indian rupee and UAE dirham.
Oil Minister reveals upcoming visit to US to discuss gas investment file
Oil Minister Hayan Abdul Ghani confirmed today, Saturday, the intention to refer 10 gas exploration blocks for investment in a new licensing round, and while revealing an upcoming visit to the United States to discuss offering them to international companies, he confirmed the intention to launch a new gas investment project at the end of the year with a capacity of 125 Mcm.
Abdul Ghani told Al-Iraqiya News - and the Iraqi News Agency (INA) followed it: "The fifth supplementary and sixth licensing round included 29 blocks and fields, and contracts were completed on 14 of them, and there are about 10 gas blocks among the remaining that companies have not applied for and we are in the process of offering them in a new licensing round."
He added, "The Ministry of Oil plans to offer these gas investment opportunities to specialized companies, and we have a visit to the United States soon for this purpose, as we plan to offer them to global American companies."
He added, "The Ministry of Oil took the initiative to drill an exploratory well in the Al-Anz block with a capacity of 1,000 cubic meters, and the Halfaya gas investment project was opened with a capacity of 300 cubic meters, and it is hoped to launch the gas investment project in the Al-Faiha oil field by the end of this year with a capacity of 125 cubic meters."
Fouad Hussein discusses with the US Ambassador the details of the international coalition conference against ISIS in Washington
Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein discussed with US Ambassador to Baghdad Alina Romanowski on Saturday the details of the international coalition conference against ISIS, which will be held in Washington next month.
The Iraqi Foreign Ministry said in a statement, a copy of which was received by Kurdistan 24, that "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein received today, Saturday, August 31, 2024, the US Ambassador to Iraq, Alina Romansky."
The statement indicated that "during the meeting, the ongoing negotiations regarding a ceasefire in Gaza and sending aid, especially medical aid, to the Strip were discussed."
He added, "The military operation carried out in the Anbar desert was referred to, which resulted in the neutralization of 15 ISIS terrorists. The minister praised the joint cooperation between the Iraqi and American forces and the success of this important operation."
He added that the meeting "touched on the conference of the international coalition against ISIS scheduled to be held in Washington early next month, and Iraq's participation in it. It is worth noting that this coalition includes 87 partners, and was established primarily to fight the terrorist organization ISIS in Iraq and Syria, and the conference will be at the level of foreign ministers of the participating countries."
The statement concluded by saying, "The United Nations General Assembly meetings to be held next month, which will be attended by dozens of world leaders, were discussed. The role of the two countries in these meetings and the required coordination between them to hold bilateral meetings on the sidelines of the participation of the two countries' delegations in New York were also discussed."
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