Arab Summit: Iraq Returns to Leadership Role, Baghdad Transforms into Influential Regional Player

  Arab Summit: Iraq Returns to Leadership Role, Baghdad Transforms into Influential Regional Player

Political researcher Abbas Ghadir said on Thursday (May 15, 2025) that holding the Arab League meeting in Baghdad will make Iraq an influential regional player.

Ghadir told Baghdad Today, "The Baghdad summit will make Iraq an influential regional player, especially since the summit will issue important decisions regarding the political and security changes and challenges facing the region at various levels. This summit will make Baghdad a major player in confronting crises and challenges and an effective player in finding diplomatic solutions."

He added, "Holding the Baghdad summit with a large Arab presence confirms that Iraq has been able to regain its leadership and pivotal role in the region, especially after the government worked to distance Iraq from the cycle of war, adopted a policy of balance, and refused to be part of any regional or international axes throughout previous dangerous crises."

Today, Wednesday (May 14, 2025), Foreign Minister Fuad Hussein announced the details of the Arab Summit to be held in Baghdad next Saturday.

At a press conference on the Arab Summit in Baghdad, attended by a Baghdad Today correspondent, Hussein said, "The preparatory committee for the Arab Summit in Baghdad has accomplished significant work," noting that "the participation of leaders and officials in these exceptional circumstances confirms their desire to unify the Arab position."

He added, "Twenty Arab organizations are participating in this summit, in addition to international organizations, including the Secretary-General of the United Nations, the Secretary-General of the Organization of Islamic Cooperation, and the guest of honor, the Prime Minister of Spain."

Hussein continued, "Iraq granted 1,000 entry visas to summit attendees, and there are approximately 300 journalists from Iraqi institutions and 200 from the international press," noting that "16 meetings of the Arab Summit's Supreme Administrative Committee were held in Baghdad."

He stressed that "Iraq is proud to have hosted three summits: the Arab League Council, the fifth session of the Development Summit, and the leaders' summit between Iraq, Egypt, and Jordan," emphasizing that "Iraq is now the chair of the 77th Summit and China."

He explained that "the Arab League Council meeting at the ministerial level will submit its decisions to the summit," explaining that "on the day of the summit, there will be two morning sessions, one at the summit level and the other the fifth development summit. The two summits will issue the Baghdad Declaration, including an immediate halt to the events in Gaza."

Hussein pointed out that "the sister Arab countries presented their visions on the items up for discussion during the summit," adding that "it is hoped that political initiatives will be put forward to establish an Arab center for combating terrorism, organized crime, drugs, and reconstruction."

Regarding Trump's decision, Hussein said, "The announcement of lifting sanctions on the Syrian people is an important step, and what is happening in Riyadh and what will happen in Baghdad is an integrative phase." He emphasized that "there will be decisions regarding the Syrian situation and the situation of Arab countries in general."

Regarding the PKK's decision, Hussein explained, "We are pleased with the PKK's decision to lay down its arms," ​​indicating that "there will be cooperation between Baghdad and Ankara to address the PKK's decision  link

TIDBIT FROM SANDY INGRAM

 Sandy Ingram  

  Looking again, the potential for the Vietnamese dong to appreciate against the United States dollar will largely depend on global monetary policies and Vietnam's ability to maintain macroeconomic stability.  

If the Federal Reserve implements interest rate cuts and global demand for Vietnamese exports strengthens, the dong may experience upward pressure. 

 On the other hand the continued strength of the United States dollar and ongoing trade challenges could limit the dong's appreciation in the near term.

#iraqidinar #iqd MAXIS: They are going to be forced to revalue or go broke!! ‪@DINARREVALUATION‬ #iraqidinar #iqd

 

Ashur Bank joins Iraq Britain Business Council

  Ashur Bank joins Iraq Britain Business Council

Ashur International Bank has joined the Iraq Britain Business Council (IBBC).

According to a statement from the IBBC, the move follows a long relationship between the Council and the bank's CEO, Mohammed Al-Delaimy.

It says the bank, established in 2005 is one of the leading private banks in Iraq, offering comprehensive banking services to individuals and businesses, with a strong focus on digital innovation, financial inclusion, and developing financial products tailored to the evolving needs of the Iraqi market.  link

TIDBIT FROM NADER FROM MID EAST: Wednesday it's at .0014 THE RATE OF THE #iraqidinar

 Nader From The Mid East 

 I was checking on Forex and I saw something good.

  It happened last year and it happened in this year too...

Last year happened a lot, last year it got to .00076 or something.  Wednesday it's at .0014..

NADER FROM MID EAST: Private sector and private banks Iqd Iraq exchange

 

The Baghdad Summit And Support For Transportation And Logistics Projects Are A Strategic Pillar For Diversifying The National Economy

 The Baghdad Summit And Support For Transportation And Logistics Projects Are A Strategic Pillar For Diversifying The National Economy

Dr. Haitham Hamid Mutlaq Al-Mansour  Economy News – Baghdad  The Baghdad Summit, which began on Tuesday, May 13, has been hosting a ministerial-level meeting of the Economic and Social Council, which included important meetings on enhancing regional cooperation on transportation and logistics projects between the region's countries. 

These topics played a significant role in these meetings, given their importance in stimulating economic growth and connecting regional markets. How can the summit support these projects? What are the expected prospects for this sector?

The government's interest in transportation and logistics projects was a national and regional economic priority at the Baghdad 2025 Summit, through planning major strategic projects aimed at transforming Iraq into a regional transportation and trade hub, by linking southern Iraq to the Turkish border in the north, and Jordan and the Mediterranean Sea in the west, thus enhancing Iraq's role as a major economic hub in the region. 

Therefore, we find that the government is working to strengthen Iraq's economic position by developing trade relations with Arab countries, re-evaluating previous agreements, and implementing strategic projects aimed at diversifying the economy and reducing dependence on oil. This is due to the advantages and gains it offers in the following areas:

Iraq's strategic location: Iraq serves as a land bridge connecting the Arabian Gulf to Turkey and Europe, and Asia to the Arab world, making it a key logistics hub. 

The goal is to promote intra-regional trade and facilitate the movement of goods between participating countries (Jordan, Saudi Arabia, Iran, Turkey, and others), reducing costs and increasing the speed and volume of trade.

Diversifying the Iraqi economy: As an alternative to its total dependence on oil, Iraq could become a regional logistics hub, providing job opportunities and supporting other sectors such as industry and warehousing.

The most prominent proposed transport and logistics projects:

A. Land and railway connectivity projects

- The Iraqi Development Corridor: Linking the Grand Faw Port in southern Iraq to Turkey via a railway and highway network, facilitating the transport of goods between the Gulf and Europe.

- The Iraqi-Jordanian railway line: to enhance trade exchange with Jordan and its outlet to the Mediterranean.

- A project to link Gulf ports to Turkey via Iraq: In cooperation with countries such as Kuwait and Saudi Arabia, this project aims to create an alternative trade route to congested sea lanes.

b. Development of ports and airports

- Al Faw Grand Port: One of the largest logistics projects in the region, it could become a competitor to Dubai Ports and Jebel Ali Ports if completed.

- Modernizing Baghdad, Najaf, and Basra airports to increase their capacity to handle air cargo and enhance transit, as well as establishing new airports.

C. Free logistics zones

Establishing warehousing and logistics distribution areas in cities such as Basra and Najaf to facilitate re-exports and reduce shipping costs.

But the important question remains: How can the summit support these projects? Support is provided through:

Concluding land and air transport agreements between Iraq and neighboring countries to facilitate the movement of goods and trucks.

Attracting investments from the Gulf states, Turkey, and China to finance infrastructure.

Establish a regional logistics authority to coordinate transport policies and unify customs standards.

Involving the private sector in the management and operation of logistics projects to ensure efficiency.

Among the most important challenges and obstacles that may face the process of supporting these projects, which are expected to reveal Iraq’s capabilities in developing this category of strategic projects, are:

The weakness of Iraq's current road and railway infrastructure.

Bureaucracy and corruption hinder the implementation of major projects.

Therefore, the multiplicity of economic impact expected from these investments is of great importance on the level of the Iraqi and regional economy, which appears to us as follows:

A. At the level of the Iraqi economy:

Boosting GDP: The International Monetary Fund estimates that investing $10 billion in infrastructure could boost Iraq's economic growth by 2.5% annually.

Job Creation: Transport and logistics projects could create 500,000 direct and indirect job opportunities by 2030.

Diversifying revenues: Currently, 90% of Iraq's revenues come from oil, but the transportation sector could add $5-7 billion annually by 2030.

Reducing the trade deficit: Transportation costs for the trade sector are expected to decline with improved infrastructure, which will provide an incentive to develop export industries that will reduce the $30 billion annual trade deficit between Iraq and its neighbors (Turkey, Iran, and Jordan).

B. At the level of regional trade and international investment:

Reducing shipping costs: The Gulf-Türkiye route via Iraq may reduce shipping time from 20 days (by sea around the Arabs) to 48 hours (by land).

Positive impact on foreign investment flows. With improved infrastructure, the region could attract investments from Turkey, other Arab countries, China (under the Belt and Road Initiative), the Gulf (particularly in energy and logistics), and European companies seeking new markets.

Therefore, the Baghdad Development Summit represents a very opportune opportunity to stimulate the growth and diversification of the national economy, as well as to revitalize Iraq's strategic role in regional cooperation in the field of transportation and logistics. 

Iraq is on the cusp of a major economic transformation, transforming it into a trade hub between Asia and Europe and supporting its economy with non-oil revenues. 

This requires effective policies to prepare and rehabilitate relevant sectors and establish strategic partnerships with neighboring countries and international investors.  https://economy-news.net/content.php?id=55515