Jul 18, Kathmandu - Iraq has signed 48 agreements and partnerships with American companies during Prime Minister Ali al-Zaidi’s recent visit to the United States, with the majority related to the oil sector, according to the Prime Minister’s Office.

Despite its oil-rich resources, Iraq continues to grapple with decades of war and political instability. Weak infrastructure, lack of public services, administrative weaknesses, and corruption have posed significant challenges to the country’s economic reforms.

Due to ongoing conflicts in West Asia affecting oil exports and revenue, Iraq faces an urgent need for economic reforms. The agreements include cooperation and partnership announcements between Iraq’s oil and electricity ministries and U.S. companies such as ExxonMobil, KBR, GE Vernova, Shell, and Halliburton. Additionally, some agreements pertain to constructing a main pipeline for crude oil transportation between Iraq and Syria.

Iraq has also announced a deal with satellite communication provider Starlink to operate satellite services within the country. During a meeting at the White House on Tuesday, U.S. President Donald Trump praised Prime Minister al-Zaidi, calling him a “champion.”

Al-Zaidi, who has a business background, came to power this year with U.S. support after rejecting another candidate. He committed to improving Iraq’s fragile economy and disarming armed groups backed by Iran, which have often attacked U.S. interests. Iraq has long sought to maintain a delicate balance between its key allies—America and neighboring Iran—despite their conflicting influences.