India and Iraq strengthen energy partnership and bilateral collaboration

The 18th JCM concluded with the signing of a protocol between India and Iraq, further solidifying their bilateral ties.

The Indian government recently hosted the 18th India-Iraq Joint Commission Meeting (JCM), where Hardeep Singh Puri, the Union Minister of Petroleum & Natural Gas and Housing & Urban Affairs, warmly welcomed H.E. Hayan Abdul Ghani Abdul Zahra Al Sawad, the Deputy Prime Minister for Energy Affairs and Minister of Oil of the Republic of Iraq.

To facilitate closer ties between business leaders from both nations, the Confederation of Indian Industry organized a roundtable discussion in conjunction with the JCM.

During the Joint Commission Meeting, Hardeep Puri emphasized the natural and historical synergies that exist between India and Iraq, particularly in light of India’s role as a global hub for rising energy demand. He urged both sides to enhance their partnership, focusing on the oil and gas industry, capacity building, and diversification of the trade basket. Puri highlighted the readiness of Indian businesses to explore investment opportunities in Iraq, upgrade oil and gas infrastructure facilities, and procure more crude oil from Iraq under favourable pricing conditions.

In his remarks, H.E. Hayan Abdul Ghani Abdul Zahra Al Sawad recognized the JCM as a vital institution for fostering accelerated bilateral collaboration. He expressed the Iraqi government’s willingness to welcome Indian businesses to invest in Iraq, including initiatives for rehabilitation.

The conference culminated in an agreement between the two nations to transition from a buyer-seller relationship to a comprehensive energy partnership encompassing investments, commerce, and engineering, procurement, and construction (EPC) services. Water resource management and healthcare cooperation were also significant topics of sectoral discussion. The Iraqi delegation commended India for organizing the Jaipur Foot Camp, which provided prosthetic limbs to 1,000 combat veterans. Additionally, the Deputy Prime Minister praised India’s crucial role in delivering high-quality healthcare to Iraqi citizens and acknowledged the Indian government’s contribution to Iraq’s capacity-building efforts through numerous scholarships.

The 18th JCM concluded with the signing of a protocol between India and Iraq, further solidifying their bilateral ties.

H.E. Hayan Abdul Ghani engaged in discussions with Jagdeep Dhankhar, the vice president of India. Furthermore, he is scheduled to meet with Piyush Goyal, the minister of commerce and industry, as well as Dr. Mansukh Mandaviya, the minister of health and family welfare, during his visit.

The India-Iraq Joint Commission Meeting has undoubtedly served as a significant platform for enhancing collaboration and deepening the energy partnership between the two nations.