Shafaq News- Washington
Iraq signed an agreement with Syria to build an oil pipelineand concluded additional deals with US companies, Shafaq News correspondent reported on Friday.
Iraqi Energy Minister Bassem Al-Abadi signed the agreementsas part of a package of major economic partnerships announced during thesummit.
Before the signing ceremony, US Energy Secretary ChrisWright said the administration of President Donald Trump is pursuing a new approachaimed at transforming the Middle East from a region of conflict into a centerfor trade and economic cooperation, adding that “expanding investment offersthe best path to peace, prosperity, and job creation across the region.”
He also praised Iraqi Prime Minister Ali Al-Zaidi forchoosing the United States as his first foreign destination just 60 days aftertaking office. “The decision reflects Iraq's recognition of the importance ofits relationship with Washington.”
Wright stated that strengthening Iraq's energy sector,increasing oil production, and reducing dependence on "hostileneighbors" require US companies to invest capital and transfer technologyand expertise to Iraq.
“The agreements signed during the ceremony are notgovernment-to-government accords but major partnerships and investmentsundertaken by private US companies, he stressed, indicating that the privatesector and strategic partnerships “are the path to peace and prosperity inIraq, the United States, and the wider world."
Later,the US State Department welcomed plans to rehabilitate the Iraq-Syriaoil pipeline with an initial capacity of 2 million barrels per day,describing the project as a strategic link between Iraqi oil production andMediterranean markets.
The department also welcomed theparticipation of a US-led international consortium that will oversee theproject's technical and financial implementation.
Iraq's and Syria's commitment torehabilitating and operating the pipeline, establishing a legal framework, andengaging constructively with the international consortium would help strengthenregional security and stability through economic prosperity, the departmentstated, adding that the initiative had become possible under the vision andleadership of President Donald Trump.
: Al-Zaidi's Washington visit links US oil investment to Iraq's September disarmament deadline