- A US trade mission of 101 members from 60 companies is visiting Iraq to sign cooperation agreements, the largest of its kind.
- The delegation focuses on the energy, technology, and health sectors and plans to sign significant MOU agreements, including one with General Electric.
A US trade delegation is visiting Iraq to sign economic cooperation agreements. The delegation, which began on Monday, April 7, consists of 101 members from 60 companies and is the largest of its kind in over 100 years, according to the US embassy in Baghdad.
The members of the trade mission represent various sectors, including energy, technology, and health. They plan to meet with senior Iraqi officials to sign agreements and strengthen economic ties between the US and Iraq.
On Monday, April 7, the US Chamber of Commerce and the Federation of Iraqi Chambers of Commerce signed an important memorandum of understanding (MOU). This MOU aims to strengthen the relationship between the US and Iraqi private sectors and create opportunities for long-term collaboration.
The US Trade Representative in Iraq reported that total trade between the US and Iraq reached $9.1 billion in 2024. US exports to Iraq amounted to $1.7 billion, while Iraq’s exports to the US were valued at $7.4 billion.
The visit is expected to result in a “landmark agreement” between Iraq and General Electric. The agreement will help develop a high-efficiency power plant in Iraq. Farhad Alaaldin, foreign policy adviser to Iraqi Prime Minister Mohamed Shia Al-Sudani, confirmed the news. Iraq has struggled with energy shortages and power outages due to its dependence on imported gas from Iran.
Iraq is working to reduce its reliance on Iran for energy. The new agreement with General Electric is part of this effort. Iraq has also signed other energy-related memoranda of understanding with the US.
This visit marks another step in Iraq’s efforts to rebuild its economy. The country continues to recover from years of war and instability. It hopes to improve relations with the US and diversify its energy sources.