Iraq said on Saturday that it had signed 48 agreements, memoranda of understanding, cooperation agreements, and partnership declarations with American public and private sector entities during Prime Minister Ali al-Zaidi’s visit to the United States.

The deals were unveiled at a business summit hosted by the US Chamber of Commerce in Washington, and the package includes partnerships in the oil sector, electricity, technology, and communications, according to the Iraqi leader’s media office.

Also Read | Iran’s giant mural turns up heat on Trump with ‘Blood for Blood’ message

What exactly did Iraq and the US sign?

Several of the agreements involve Iraq’s oil and electricity ministries and US companies, including ExxonMobil, KBR, GE Vernova, Shell, and Halliburton.

Iraq also signed a deal with Starlink to introduce services in the country, while other agreements covered agriculture, electronics, commerce, and industry.

The deals were signed as Baghdad seeks to reduce dependence on the Strait of Hormuz, which has faced major disruption amid regional conflict. The Iraqi leader’s media office said, “A total of 48 agreements, memoranda of understanding, cooperation agreements, and partnership declarations were signed between public and private sector entities in Iraq and the United States.”

Iraq-Syria pipeline project

A central element of the visit is a revived effort to rebuild the long-defunct Iraq-Syria crude oil pipeline, which would run from the Kirkuk oil region in northern Iraq to Syria’s Mediterranean port of Baniyas.

Iraq’s state news agency said Chevron would carry out the project under the agreement, while the US State Department said it welcomed the plan and said a “US-led international consortium” would handle “the technical and financial aspects.”

The department said the project would have an initial transport capacity of two million barrels per day and described it as “a critical energy corridor linking Iraqi oil production to Mediterranean export markets and beyond.”

US Ambassador to Türkiye Tom Barrack said the pipeline agreements would lead to a program “that will make the Strait of Hormuz an afterthought.”

Beyond the paperwork lies a larger wager

Iraq’s initial agreements with US firms across energy, healthcare, and technology are worth more than $60 billion.

At the summit, al-Zaidi said, “We are using an open-door policy. Everybody who has a project can come and talk to us. We will not make it difficult for anyone.”

Trump praised al-Zaidi as a “champion” during a White House meeting earlier in the week. Iraq, which has long balanced ties between Washington and neighboring Iran, is now using the Washington visit to present itself as open to deeper American investment while it tries to stabilize its fragile economy and widen its export options.

Also Read | Iran hardliners accuse leaders of ‘coup’ after Khamenei funeral exposes deep rift

FAQs

Q1: Why did Iraq sign 48 agreements with US companies?

Iraq signed the agreements to expand cooperation in energy, technology, electricity, communications and other sectors while attracting greater US investment.

Q2: What is the Iraq-Syria oil pipeline project?

The proposed pipeline aims to transport Iraqi crude from Kirkuk to Syria’s Mediterranean port of Baniyas, creating an alternative export route beyond the Strait of Hormuz.