Shafaq News/ Iraq can make a leap into sustainable development if it makes good use of the quid pro quo situation with France and Europe, Washington-based Iraqi political analyst, Haidar Nizar, said on Thursday.
"The World Bank estimates that Iraq needs around $233 billion in investments by 2040 to kick start a pursuit of sustainable development," Nizar told Shafaq News Agency, "France, on the other hand, expressed willingness to contribute to these ambitions. President Emmanuel Macron sponsored the Baghdad II conference in Amman to emphasize his country's commitment to Iraq."
"Paris and Baghdad share distinguished and deep ties since the seventies, despite the pitfalls caused by Saddam Hussein's policies. Recently, France has recaptured some momentum in Iraq, particularly since the war against terrorism."
"Prime Minister Mohammad Shia al-Sudani has expressed willingness to help Europe overcome its energy crisis. France, on the other side, will definitely show interest in investing in Iraq's gas," Nizar added, "TotalEnergies, the French gas giant, is a leading firm in the industry. It mediated the border dispute between Lebanon and Israel, which mainly revolved around the gas fields in the contested area. Now, Total is in charge of extracting the gas from the common fields and distributing the revenues to the sides of the agreement. The French company is also in charge of constructing the gas pipeline that extends from the Kurdistan region to Europe through Turkey."
"In this visit, al-Sudani will try to seal a $27-billion deal with TotalEnergies," he continued, "this deal has been stumbling for years for different reasons."
"Iraq can make a leap into sustainable development if it makes good use of the quid pro quo situation with France," he concluded, "to seize this opportunity, Iraq should pave the road with a stable security and political situation and proper legislations that facilitate establishing economic, financial, and energy partnerships with other countries."
Earlier today, Prime Minister al-Sudani left Baghdad for France to hold talks on energy and security files of mutual interest.
In written answers to AFP, al-Sudani he wants to "activate the agreements" between oil-rich Iraq and France "particularly in the transport, energy, and investment sectors".
French giant TotalEnergies in 2021 signed a $10 billion contract with Baghdad, but work on the multiple projects is yet to begin.
They include the construction of oil and gas processing facilities with the capacity for electricity production, along with a one-gigawatt photovoltaic power plant.
Despite being home to a wealth of hydrocarbon reserves, Iraq's neglected electricity grid is dilapidated and a victim of rampant corruption, with power cuts lasting for hours.
Neighboring Iran currently supplies a third of Iraq's gas and electricity, and Baghdad is seeking greater energy independence.
Al-Sudani's coalition government, formed in October, is supported by pro-Iranian parties, which hold a majority in Iraq's parliament.
Macron is particularly invested in Iraq, having twice visited the country since taking office in 2017, and last month told a regional conference in Jordan that Baghdad should embark on a path not "dictated from outside."
Security will also be discussed, with al-Sudani saying talks will include "training and development of Iraqi security capabilities, as well as in the field of arms purchases".
Baghdad has also taken a role as a mediator between regional rivals Iran and Saudi Arabia, after diplomatic relations between the countries froze in 2016.
The last meetings took place in April and Sudani, although unable to say when talks might resume, said he felt that Iran and Saudi Arabia are "ready to resume dialogue".
