‘Investing with Iraq’: PM sets vision for new economic future

He conveyed this in a high-level debate at the UN General Assembly, where he outlined his country’s vision for economic growth, stability and regional cooperation.

“We are moving forward to ensure that it is the state that holds the decision-making power over war and peace, and that the weapons and instruments of power remain in the hands of its constitutional institutions, so that the law is the decider and the national interest is the compass,” he said.

He explained that the executive steps taken in this area move in the right direction, as they form the basis for building State institutions, protecting sovereignty, consolidating stability and creating the necessary environment for development and investment.

With the end of the international coalition mission in Iraq, he said, “we are moving our relationships with our strategic partners into a new phase, from military cooperation to economic and development cooperation that serves mutual interests.”

He called on everyone to secure borders, address disparities and remain vigilant to prevent an environment conducive to extremism.

Energy and development

Mr Al-Zaidi spoke about institutional reforms, saying: “Our government is carrying out the fight against corruption and the protection of public funds, and we are pursuing sustainable and substantive reforms to increase performance efficiency and improve services.”

He said Iraq is seeking to leverage successful expertise and innovative practices from the world of economics, finance and business to advance its economic and financial reforms, and to provide a safe environment for domestic and foreign investment.

“Our ambition is for Iraq to become a global energy production hub, and to leverage its capabilities to sustainably strengthen regional and international security and stability,” he said.

But he added: “We are concerned about the impacts related to freedom of maritime transport and navigation, and the resulting crisis in the form of rising energy prices around the world.”

To address these risks, he said, Iraq is seeking to diversify its oil export outlets and develop energy routes and corridors connecting the country with Turkey, Jordan and Syria, to reach global markets.

He spoke about the Development Roads project as Iraq’s comprehensive vision for regional integration and stability, describing it as an important gateway and strategic corridor for trade, investment, industry and energy, connecting east and west from Grand Faw Port, through Türkiye, to Europe.

“From the UN podium, we say to the world: invest with Iraq, because Iraq has the resources, markets, location and will to build a new economy,” he said.

From conflict to integration

Mr. Al-Zaidi stressed that his country’s vision rests on helping transform the region from conflict to integration, from competition to cooperation, and from spending resources to investing them in development.

He said Iraq reaffirmed its support for dialogue and diplomacy to defuse the crisis, and efforts to allow trade to pass through Iraqi territory, by offering key facilities as alternatives to complicated trade routes.

He pointed to the challenges posed by desertification and water scarcity Iraq faces, which affect its food security.

“We affirm our commitment to our legal and just water rights, and we call for joint management of water resources based on the principles of cooperation and international law,” he said.

He concluded: “Iraq has never been marginalized. It is at the heart of history and the pulse of the present, and worthy of future partnership.”