Syrian FM: Syria seeks stronger ties with Iraq, 15 MARCH

 Syrian FM: Syria seeks stronger ties with Iraq

Syrian FM: Syria seeks stronger ties with Iraq

Shafaq News/ The Syrian Foreign Minister, Asaad Al-Shibani, emphasized that the Al-Sharaa administration aims to strengthen its relationship with Iraq, highlighting the importance of fostering closer ties between the two sides.

In a press conference held in Baghdad alongside his Iraqi counterpart, Fuad Hussein, Al-Shibani stated that both nations should collaborate to reject any external interference dictating their actions, noting that “Syria is facing the challenge of rebuilding.” He further acknowledged that the path ahead would not be easy but expressed confidence that both Damascus and Baghdad would emerge stronger from this phase.

Al-Shibani continued, “We are committed to facilitating the movement of goods, services, and investment with Iraq. The purpose of our visit is to enhance trade exchanges and eliminate barriers between our two countries. A strong partnership with Iraq will make Damascus more resilient against foreign interventions.”

Earlier today, Al-Shibani arrived in Baghdad, where he met with President Abdullatif Rashid and Prime Minister Mohammed Shia Al-Sudani, and is scheduled to hold discussions with Parliamentary Speaker Mahmoud Al-Mashhadani.

On February 27, Iraqi government sources told Shafaq News about Al-Shibani’s planned visit to Baghdad in March. They confirmed that the visit had been postponed due to security concerns on the Syrian side, as well as “some Iraqi statements that negatively impacted the timing.”

WALKINGSTICK: ABOUT THE MULTI-CURRENCY SYNC SOFTWARE, 15 MARCH

 Walkingstick 

[Iraqi bank friend Aki update]  

AKI: Busy, very busy.  We are finishing up a training on a new software that we have applied to all of our banks. 

 Here, my private bank is also now being part of it. 

 This software is called multi-currency sync software.  

The purpose of this software is to update the world, the banks, Forex, everybody that will need to know this, to update them on the new currency that we will be putting out...It is going to include the pictures of the lower denominations ... 

WALKINGSTICK:  Hasn't this software been around for a while? 

 AKI:  Yeah, but this is a new updated software...We're pretty much done with this.  We've been at it for a long time.

MNT GOAT: "SHRINKING THE PARALLEL MARKET", MY CBI CONTACT TOLD US THAT THIS HAD TO HAPPEN #iqd

 

$2.8bn Iraq Defense Contract: Companies "Struggle for Control", 15 MARCH

Hanwha and LIG Nex1 struggle for control in Iraq missile export negotiations

Since the supply contract for the mid-range surface-to-air missile, Cheongung II (M-SAM II), to Iraq, detailed negotiations between Hanwha Group's defense affiliates and LIG Nex1 have been stalled for several months. While it appears on the surface that the participating companies disagree on price and delivery terms, the defense industry sees the essential issue as a competition for control over air defense systems. There are calls for a swift agreement to facilitate the export of the Korean-style air defense network, starting from Cheongung to L-SAM (Long-range Surface-to-Air Missile).

According to the defense industry and military authorities on the 12th, Hanwha Aerospace, Hanwha Systems, and LIG Nex1 attended a meeting that took place on the 25th of last month, chaired by Administrator Seok Jong-geun at the Defense Acquisition Program Administration (DAPA). It is reported that Hanwha Systems CEO Son Jae-il and LIG Nex1 CEO Shin Ik-hyeon were present. This meeting was arranged at the request of the companies involved in the conflict. A DAPA official noted, "We decided to share more information and strengthen cooperation."

Hanwha and LIG Nex1 have agreed to collaborate, but no visible outcomes have emerged yet. Both Hanwha and LIG Nex1 are seeking to lead the negotiations with Iraq. LIG Nex1 argues that it has traditionally led export negotiations as the system integration company and has developed key technologies for missile targeting. Hanwha emphasized that its participation in the development of Cheongung II adds to their importance in the project. LIG Nex1 was responsible for the missile and system integration of Cheongung II. Hanwha Aerospace developed the launchers, while Hanwha Systems developed the onboard radar.

Practical issues, such as production quantities, are also cited as factors delaying a complete agreement. The contract details with Iraq need to be fully disclosed to determine how many units will be produced, but information sharing between companies has reportedly not gone smoothly. Negotiations over delivery prices have progressed significantly. An industry source stated, "The pricing aspect is almost settled."

Cheongung II firing image. /Courtesy of LIG Nex1

The conflict between the two companies escalated last September when LIG Nex1 signed a comprehensive contract with Iraq for Cheongung II without consulting Hanwha Aerospace, among others, over pricing or delivery terms. As the dispute continued, a mediation meeting was arranged by the National Assembly in November of last year. It is reported that this meeting only reached an agreement on the overarching goal of successfully exporting to Iraq.

The leadership of the Iraq negotiations is also related to the long-range surface-to-air missile, L-SAM, which has export potential. In the development process of L-SAM, LIG Nex1 and Hanwha's defense affiliates participated in a structure similar to that of Cheongung II. Concerns arise that similar issues will continue to emerge if the conflict between the companies is not resolved amicably.

Currently, many countries in the Middle East are showing interest in Cheongung II and L-SAM II. The Defense Acquisition Program Administration, which has initiated the development of L-SAM II, hopes to expand exports of the Korean layered air defense network from Cheongung II to L-SAM II. A DAPA official stated, "Both sides have agreed to cooperate closely, and the government will play an appropriate mediating role."

TIDBIT FROM MARKZ , 15 MARCH

 MarkZ  

 [via PDK]  

In Iraq: “Parliament awaits the arrival of the 2025 budget” They still expect it mid-month…or by the end of the month. 

They are being vague on purpose. I believe they are hiding a number in it... In this budget they state they are going to “support the local currency” and the development road projects are also a part of it...Iraq is also having conversations as to if the HCL oil and gas laws will finally reach fruition in this session…or not.

GOLDILOCKS: Banks Preparing For New Currency Exchanges - ALL Test Completed @DINARREVALUATION #iraq

 

World Bank Reaffirms Commitment to Supporting Iraq, 15 MARCH

 World Bank Reaffirms Commitment to Supporting Iraq

Iraq's Minister of Finance, Taif Sami, met with Jean-Christophe Carret, the World Bank's representative in Iraq, to discuss strengthening economic and financial cooperation.

The discussions focused on strategic projects aimed at stimulating economic growth, creating jobs, and developing infrastructure and human capital.

Minister Sami emphasized Iraq's commitment to leveraging technical and financial support from the World Bank to enhance financial stability and sustainable development. The meeting also addressed ongoing and future development projects aimed at ensuring long-term economic resilience.

Carret reaffirmed the World Bank's commitment to supporting Iraq, highlighting its focus on economic challenges, sustainable growth, and inclusive development.

(Source: Ministry of Finance)