ERBIL, Kurdistan Region - Iraq’s Prime Minister Ali al-Zaidi landed in Paris on Sunday afternoon with a large delegation of ministers and officials to encourage French investment in the Iraqi economy, particularly in the energy sector, the country’s oil minister said.
“This visit is of great importance for Iraq. There is cooperation between the Iraqi and French governments about different topics, especially energy, namely oil, gas and electricity," Basim Mohammed Khudair, Iraqi Minister of Oil, told Rudaw’s Alla Shally in the lobby of the hotel where the delegation is staying.
"We would like to build up on this widearching cooperation,” added the minister, who is one of seven ministers in the delegation.
The visit is part of the Iraqi PM’s European tour, which includes France and Germany. The focus of the visit to France is to deepen energy ties.
On Monday, Zaidi will be welcomed in an official ceremony at the French ministry of defense, followed by lunch with the French President Emmanuel Macron at noon, after which the PM will meet business people and bankers in France. These include companies manufacturing drones and anti-drone systems.
The PM is set to conclude the day with a one-on-one meeting with the French President during dinner .
Iraq and France have been "long-time friends", said the oil minister. "This visit is of great importance to activate economic cooperation, particularly in terms of oil and gas."
TotalEnergies in 2023 signed the largest foreign investment contract in its history, the Gas Growth Integrated Project (GGIP), to develop Iraq’s oil sector and steer the country toward a more sustainable path. The finalized deal gives TotalEnergies a 45 percent stake in the GGIP, followed by Iraq’s state-owned Basra Oil Company with 30 percent and QatarEnergy with 25 percent. TotalEnergies is also working on a 1GW solar energy farm in Iraq’s southern Basra province.
The delegation also includes Kurdistan Region Presidency's Chief of Staff Fawzi Hariri. Hariri told Rudaw that the Region maintained solid relations with France throughout the years and were happy Iraq was maintaining strong relations as well.
The PM’s visit coincides with an economic crisis the country has been dealing with since the start of the US and Israeli war against Iran in late February.
The war led to the closure of the Strait of Hormuz, through which more than 90 percent of Iraq’s oil exports pass, dealing a major blow to government revenues, which rely heavily on oil.
