Iraqi Prime Minister Ali ez-Zeydi is traveling to Washington on Monday at the invitation of US President Donald Trump. This visit marks his first foreign engagement since taking office, with energy and investment deals topping the agenda.
Government spokesperson Haydar el-Abudi said the visit will focus on deepening economic ties and promoting investments in energy, trade, and technology.
The most notable part of the agreements to be signed between the two countries is Iraq's allocation of revenue equivalent to 500,000 barrels of daily oil exports into an energy and development fund. This fund will be used to finance strategic projects. In return, the US will increase electricity supply to Iraq and expand American companies' participation in infrastructure and energy projects.
Prime Minister ez-Zeydi had previously stated that the fund could exceed $400 billion over the coming decades, with resources gradually increasing as production rises.
The Baghdad administration also aims to attract new American investments into the energy sector. Spokesperson el-Abudi noted that they are preparing to bring in specialized US companies to boost Iraq's oil production capacity, with agreements signed in recent months with major firms such as Chevron, Halliburton, and HKN.
In an article published in the Washington Post, Prime Minister ez-Zeydi wrote that they would present Trump with investment opportunities in infrastructure, energy, industry, technology, and the digital economy. Ez-Zeydi stressed that they aim to shift bilateral relations from 'crisis management' to 'opportunity creation.'
In the article, the prime minister stated that the government has created a more attractive investment environment by strengthening the rule of law, consolidating weapons under state control, and implementing economic reforms.
Iraq suffered major economic losses during the recent Middle East war due to disruptions in oil shipments through the Strait of Hormuz. The country, which relies on oil for more than 90 percent of its budget, says these losses negatively impacted public revenues.
Baghdad hopes the agreements to be signed will accelerate energy and electricity projects, diversify funding sources, and attract American capital to support infrastructure reconstruction and economic growth.
Observers, however, assess that the visit's success will depend on Iraq's ability to turn political consensus into concrete investments, particularly in the energy sector, the backbone of the economy.
