Iraqi PM to meet President Trump in Washington to strengthen relations | Oil and Gas News

The oil and gas agreements are expected to be signed as part of the economic, trade and investment agreement.

Prime Minister of Iraq Ali al-Zaidi is expected to travel to the United States to meet with President Donald Trump on his first international trip since taking office.

Zaidi will leave on a weekend trip on Monday, government spokesman Haider al-Aboudi said.

During his visit, oil and gas agreements are expected to be signed as part of the greater strengthening of economic, trade, and investment cooperation between the two countries.

“The agreements that will be signed will include several memorandums of understanding in the oil and gas sector, where Iraq plans to bring in various US companies that will provide the capacity to increase oil production,” said al-Aboudi.

He added that the purpose of the talks would be to “strengthen economic and financial relations” between Iraq and the US.

Al-Zaidi is hoping to attract US investment after the huge loss of revenue due to the stoppage of oil exports due to the Iran war and the oil embargo. Hormuz River.Gulf, which is the only body of water that borders Iraq.

Al-Zaidi, who came to power this year, took office as the US pressured Baghdad to crack down on corruption and remove Iran-backed weapons. direct US offices in Iraq.

In a move that pleased the US, the Iraqi security forces to be arrested Many prominent politicians, lawmakers and officials are storming Baghdad in late June, as part of an unprecedented security crackdown ordered by al-Zaidi.

Relations between Iraq and the US have been strained at times due to the continued presence of US troops in Iraq, Baghdad’s relationship with Iran, and pressure to remove Iranian-backed weapons.

But al-Zaidi received favors from Trump when he was appointed health secretary in April. The US president said he hoped there would be an agreement between Baghdad and Washington.

In recent months, Iraq has signed several agreements with US companies in the oil sector.

Al-Zaidi is expected to sign a number of other agreements, including an agreement to establish a fund in which Iraq will put half a million barrels of oil per day into the US to help boost the country’s electricity.

In a show of support for al-Zaidi’s administration, the US has resumed funding Iraq’s oil reserves, which have been managed by the Federal Reserve Bank of New York since 2003.