WASHINGTON, DC — During the inaugural Washington visit by Prime Minister of Iraq Ali Al-Zaidi, the U.S. Chamber of Commerce today hosted the U.S.-Iraq Business Summit, bringing together top Iraqi and U.S. government officials—including U.S. Secretary of Energy Christopher Wright and U.S. Ambassador to Turkey and the Special Presidential Envoy to Syria and Iraq Tom Barrack—and U.S. and Iraqi business leaders for meaningful discussions on strengthening private sector-led growth in Iraq.
The summit featured the signing and announcement of over fifty agreements and memorandums of understanding (MOUs) between the Iraqi government and top companies — including Abbott, bp, Chevron, ConocoPhillips, Commercis, Excelerate Energy, GE Vernova, Google, HKN Energy, JPMorgan Chase Bank, KBR, PepsiCo, Shell, Starlink, and Vantive — collectively totaling more than $60 billion.
The Prime Minister said, “Iraq today is not seen as yesterday’s Iraq. In the past, Iraq was seen by some as a country of lost opportunities— today, it has become a country of great opportunities. We have finished with the era of wars. Now, we are in the era of construction."
Stressing the historic nature of today’s Summit and deal signings, Prime Minister Al-Zaidi continued, “The fastest people are going to be successful because these opportunities are available today, but they might not be available tomorrow. [...] We are trying to transform the resources of Iraq into jobs and into prosperity. [...] 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.”
In his remarks, Ambassador Barrack praised Prime Minister Al-Zaidi's leadership, saying, “We're so elated to be able to support the Prime Minister and his team on every level. Thank you for supporting him in the way that we really can win — which is commerce and prosperity.” Ambassador Barrack continued, “If you look throughout history, the only thing successfully and successively that has worked is enterprise. Industry leads the way. Diplomacy, even nation states, follow behind."
U.S. Chamber of Commerce President and CEO Suzanne Clark underscored the significance of the day, saying, “This summit and its goal of a stronger bilateral commercial relationship are essential to the U.S. Chamber's mission. Today’s signing and announcement of more than $60 billion in agreements, partnerships, and memoranda of understanding are tangible demonstrations of confidence and shared ambition. These signings signal where the future of the U.S.-Iraq bilateral relationship is headed— toward deeper commercial ties, greater economic cooperation, and stronger partnerships with value for both our countries.” Clark continued, “The true measure of success will be these projects completed, investments made, jobs created, and the human outcomes that emerge from these commitments. We are proud to call Iraq and its private sector our allies, our friends, our business partners.”
U.S. Chamber Chairman of the Board Ross Perot Jr. said, “Iraq occupies a strategic position at the heart of the Middle East. It is a vital crossroads and source of regional and global energy security, There is so much promise and potential ahead for the United States and Iraq. [...] Strong commercial relationships create the foundation for deeper ties between countries. [...] With the Trump administration, our bilateral relationship has entered a new chapter, moving from a focus on security cooperation to a greater emphasis on economic and energy investments and partnerships.” To the Prime Minister, Perot added, “It's clear you're willing to take decisive steps to transform your country's economic future.”
“Today is a milestone,” said U.S. Energy Secretary Christopher Wright. “Today is a pivot in a very significant relationship between one of the oldest and proudest and most important nations informing our world — the nation of Iraq — and the United States of America. [...] Everywhere we can replace commerce over conflict, we can drive prosperity and freedom for the citizens of the region, and grow jobs and opportunities for Americans. [...] Words alone don't do that. Only businesses do that — by risking capital, by investing, bringing technology and people to Iraq to drive this improvement and deepen this strategic partnership.” The Secretary affirmed, “Business and strategic partnership is the road to peace and prosperity."
The Export-Import Bank of the United States (EXIM) also issued a Letter of Interest indicating it could finance up to $1.5 billion in U.S. goods and services for Halfaya Gas Company’s Bin Umar Development Project in Iraq. The EXIM letter helps position U.S. exporters as global demand for reliable energy grows, while supporting well-paying jobs and reinforcing American leadership in global energy security.
The summit was organized by the U.S. Chamber’s U.S.-Iraq Business Council, which today also announced a new business delegation to Iraq in the coming months in response to the PM’s visit.
