European Visit: Strategic Investment and Partnership

The Prime Minister's financial advisor, Mazhar Mohammed Saleh, affirmed that Prime Minister Ali Faleh Al-Zaidi's upcoming visit to France and Germany carries an ambitious investment message. Saleh stated in a declaration to the official agency that the visit occurs at a crucial economic juncture, aligning with shifts reflected by the G7 Summit in Evian, France, on June 16, 2026. These shifts notably include the adoption of long-term investment partnerships, encouraging joint investment, mobilizing private capital, and utilizing guarantees and blended finance for risk-sharing to fund strategically important projects. He added that the visit will convey a clear message: Iraq is not primarily seeking financing, but rather a genuine investment partnership with Europe. He clarified that Iraq possesses natural resources, a strategic geographical location, a substantial market, and major projects, while European companies and institutions offer capital, technology, expertise, and access to global markets. Saleh further noted that the objective is to consolidate these advantages within joint projects that yield returns for investors and add value to the Iraqi economy. He pointed out that the priority lies in transitioning from memorandums of understanding to executable projects, by selecting a significant number of strategic initiatives, identifying investors and partners, determining financing volumes and guarantees, establishing risk-sharing mechanisms, and setting clear timelines for financial closure and implementation commencement. Saleh elaborated that foremost among these projects is the Development Road project, presented to Europe as a fully integrated strategic economic corridor, not merely a rail and transport venture. It encompasses the Grand Faw Port, industrial and logistics zones, energy, communications, and services. He emphasized that this project will serve as an exemplary platform for joint Iraqi-European investment. He reported that discussions are anticipated to concentrate on energy, industry, petrochemicals, infrastructure, transportation, and communications, prioritizing projects that transfer technology, create employment opportunities, and build value chains within Iraq. This approach aligns with the new principles adopted by the G7 since its 2025 conference, rather than focusing solely on contracting agreements or raw material exports. He highlighted the significance of varying priorities between Paris and Berlin. With France, focus could be placed on energy, transport, infrastructure, water, and technology, while discussions with Germany might emphasize industry, energy, railways, equipment, industrial technology, training, and knowledge transfer. He clarified that the most crucial objective of the visit is to agree upon a joint Iraqi-European investment mechanism. This mechanism would combine Iraqi capital, European and international financial institutions, European companies, and the Iraqi private sector, utilizing guarantees and blended finance tools to mitigate risks and attract larger investments. Saleh stressed that the success of the visit should not be measured by the number of agreements and memorandums of understanding, but rather by the quantity of projects that advance to final study, financial closure, and then actual implementation. He explained that Iraq has an opportunity to redefine its economic relationship with Europe on a new foundation: partnership, not aid; investment, not just financing; production, not import; and the creation of value chains within Iraq, not merely investing in its resources. He affirmed that the clearest message carried by the visit is that Iraq is not asking Europe to finance its future, but rather inviting it to invest alongside Iraq in its future.