Iraq signs new agreement with Siemens

Shafaq News / Iraq's Prime Minister, Muhammad Shia Al-Sudani, met on Friday with German Chancellor Olaf Scholz, in Berlin.

In a joint press conference with Scholz, al-Sudani announced signing a memorandum of understanding with German company Siemens, to increase production, improve the transmission and distribution currencies, reduce waste and ensure energy stability, pointing out that the government has made the required financial allocations to implement the agreement.

He said that they discussed Germany's opportunities to invest in associated gas and the petrochemical sector in Iraq. "We welcome German companies' contribution to developing the health, education and agriculture fields in the country."

On Iraq's foreign relations, al-Sudani said, "The government is keen to take the approach of balanced relations regionally and internationally, and supports the convergence of points of view."

"Iraq is an important country in the field of energy in terms of oil production and strategic storage. We have plans to invest in associated and natural gas, and we have huge reserves that have not been invested yet", al-Sudani revealed.

He added, "Iraq has pivotal strategic projects that are currently being implemented, including the Faw port."