From oil to technology: Iraq is redrawing its international economic map
From oil to technology: Iraq is redrawing its international economic map
5-7-2026
Information/Report…
Amid escalating regional and international economic challenges, Baghdad is moving towards developing a new approach to managing its external economic portfolio. This approach is based on expanding its network of strategic agreements with international powers and emerging economic communities, in an effort to bolster internal stability and reduce vulnerability to geopolitical pressures.
This approach is not limited to the traditional trade dimension, but extends to reshaping economic relations in line with the concept of “economic security.” This involves attracting high-quality investments in the energy and technology sectors and securing supply chains, thereby providing a degree of protection against the volatility of global markets. Parliamentary calls for strategic agreements:
In this context, MP Abbas Lakn called on Prime Minister-designate Ali al-Zidi to adopt a broader path of international partnerships by concluding strategic agreements with a number of countries, thus ensuring the strengthening of Iraq’s economic sovereignty.
But he told Al-Maalomah News Agency that “the current stage requires effective government action to strengthen international partnerships in a way that serves the supreme national interests,” stressing “the necessity of protecting the Iraqi economy from foreign interference by securing legal, technical, and sovereign cover.”
He added that “concluding sound agreements with developed countries will contribute to stabilizing the local market and providing a safe environment for investment,” emphasizing that “economic sovereignty is no less important than security sovereignty in light of current global challenges.”
Concerns about an anticipated financial crisis:
Meanwhile, the head of the Rights Movement, MP Hussein Mounis, warned in a statement to Al-Maalomah News Agency of the possibility of financial crisis in Iraq next month, attributing it to the repercussions of the ongoing conflicts in the Middle East region.
This warning reflects growing concerns within political circles about the impact of regional tensions on the country’s financial and monetary stability, especially given the Iraqi economy’s strong dependence on global energy markets.
Calls for multi-pronged strategies
: For his part, former MP Razzaq Al-Haidari stressed the need for the next government to adopt multi-pronged strategies to address economic and security challenges simultaneously.
Al-Haidari told Al-Maalomah News Agency, “The current government faces a real test that requires it to develop urgent strategies to solve the economic problem and secure the security situation simultaneously.” He explained that “separating these two issues has become impossible due to their significant overlap.”
He added, “The task facing the government is not easy; rather, it is extremely difficult and requires concerted political efforts to support government plans aimed at extricating Iraq from its current predicament.” He pointed out that “the success of any strategy depends on the government’s ability to maneuver in foreign policy matters and ensure the stability of local markets.” These statements come at a time when the Iraqi
economy
is facing complex challenges, most notably fluctuating oil prices, regional instability, and the intertwining of political and economic issues, making “economic security” one of the most prominent issues in the country’s next phase.
Observers believe that the move towards signing long-term strategic agreements may represent an attempt to reposition the Iraqi economy within a broader network of international interests. However, the success of this approach remains contingent on the government’s ability to strike a delicate balance between the demands of internal sovereignty and the pressures of the external environment.
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