Jordan to Export Electricity to Iraq

Employees walk grounds of Dhi Qar Combined Cycle Power Plant near Iraqi city of Nasiriyah (File photo: AFP)
Employees walk grounds of Dhi Qar Combined Cycle Power Plant near Iraqi city of Nasiriyah (File photo: AFP)
TT
20

Jordan to Export Electricity to Iraq

Employees walk grounds of Dhi Qar Combined Cycle Power Plant near Iraqi city of Nasiriyah (File photo: AFP)
Employees walk grounds of Dhi Qar Combined Cycle Power Plant near Iraqi city of Nasiriyah (File photo: AFP)

Jordan signed an agreement to sell electricity to Iraq and connect the two countries' power grids, according to an official Jordanian source.

The agreement was signed via videoconferencing and attended by Jordanian Minister of Energy and Mineral Resources Hala Zawati and her Iraqi counterpart Majed Emarah.

The deal says that Jordan will provide Iraq with 1,000 gigawatt-hours per year in the first phase of the project.

Zawati said that supplying Iraq with electricity will begin after the completion of the construction of al-Risha plant in Jordan, and the establishment of the 300-km power line connecting it with the al-Qaim conversion plant in Iraq.

It will be completed within 26 months of the signing date of the contract, the Minister added.

She highlighted the importance of the Jordanian-Iraqi power grid connection, pointing out that the project enhances the stability and reliability of power networks in both countries.

It serves the intention of establishing a joint power market in the Arab world, which would promote Arab economic integration, announced Zawati.

Baghdad currently imports gas and electricity from Tehran following a US waiver allowing Iraq to import energy sources from Iran without risking sanctions.

Despite rich oil sources, Baghdad relies heavily on Iran in the field of energy and imports a third of its gas and electricity consumption. Iraq is unable to achieve energy self-sufficiency to secure the needs of its 40 million people because of a decaying infrastructure.

The US extended the waiver granted to Iraq for two additional months, an Iraqi official told AFP.

When Iraqi Prime Minister Mustafa al-Kadhimi formed the government in May, Washington granted Baghdad an exemption for a period of four months.

Meanwhile, Iraq’s General Company for Passenger Transport and Delegations at the Ministry of Transport announced preliminary talks to open a new route to Egypt, via Jordan.

Local media quoted the Company’s general director, Karim Hussein, who said there is a priority to open a new route to Egypt.

Hussein said the company's financial performance was profitable between 2018 and until the first two months of 2020, when it faced many losses due to travel bans and lockdowns imposed to prevent the spread of the coronavirus pandemic.



US, China Reach Deal to Cut Trade Deficit, US Officials Say

US Treasury Secretary Scott Bessent (L) and US Trade Representative Jamieson Greer speak to the media after talks between seniors US and Chinese officials on tariffs at the residence of the permanent Swiss ambassador to the United Nations in Geneva on May 11, 2025. (Photo by VALENTIN FLAURAUD / AFP)
US Treasury Secretary Scott Bessent (L) and US Trade Representative Jamieson Greer speak to the media after talks between seniors US and Chinese officials on tariffs at the residence of the permanent Swiss ambassador to the United Nations in Geneva on May 11, 2025. (Photo by VALENTIN FLAURAUD / AFP)
TT
20

US, China Reach Deal to Cut Trade Deficit, US Officials Say

US Treasury Secretary Scott Bessent (L) and US Trade Representative Jamieson Greer speak to the media after talks between seniors US and Chinese officials on tariffs at the residence of the permanent Swiss ambassador to the United Nations in Geneva on May 11, 2025. (Photo by VALENTIN FLAURAUD / AFP)
US Treasury Secretary Scott Bessent (L) and US Trade Representative Jamieson Greer speak to the media after talks between seniors US and Chinese officials on tariffs at the residence of the permanent Swiss ambassador to the United Nations in Geneva on May 11, 2025. (Photo by VALENTIN FLAURAUD / AFP)

US Treasury Secretary Scott Bessent on Sunday reported "substantial progress" in US talks with China's top economic officials to de-escalate a damaging trade war, but offered no details of an agreement reached as two days of negotiations wrapped up in Geneva.
Bessent told reporters that details would be announced on Monday and that US President Donald Trump was fully aware of the results of the "productive talks."
US Trade Representative Jamieson Greer, who participated in the talks with Bessent, Chinese Vice Premier He Lifeng and two Chinese vice ministers, described the conclusion as "a deal we struck with our Chinese partners" that will help reduce the $1.2 trillion US global goods trade deficit.
"And this was, as the Secretary pointed out, a very constructive two days. It's important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought," Greer said, adding that the Chinese officials were "tough negotiators"
The meeting was the first face-to-face interaction between Bessent, Greer and He since the world's two largest economies imposed tariffs well above 100% on each other's goods.
Although Bessent has said the bilateral tariffs were too high and needed to come down in a de-escalation move, he did not offer any details of reductions agreed and took no questions from reporters, Reuters said.
Earlier, White House economic adviser Kevin Hassett said the Chinese were "very, very eager" to engage in discussions and rebalance trade relations with the United States.
Hassett also told Fox News that more foreign trade deals could be coming with other countries as soon as this week.
Overnight, Trump gave a positive reading of the talks, saying the two sides had negotiated "a total reset... in a friendly, but constructive, manner."
"A very good meeting today with China, in Switzerland. Many things discussed, much agreed to," Trump posted on his Truth Social platform.
"We want to see, for the good of both China and the US, an opening up of China to American business. GREAT PROGRESS MADE!!!," Trump added, without elaborating on the progress.
Speaking on "Sunday Morning Futures" on Fox News with Maria Bartiromo, Hassett said Beijing is eager to re-set trade relations with the United States.
"It looks like the Chinese are very, very eager to play ball and to re-normalize things," Hassett said.
Hassett also said more trade deal announcements could be imminent following last week's announcement of an agreement with the United Kingdom. He said he had been briefed by Commerce Secretary Howard Lutnick on two dozen pending deals in development with USTR Greer.
"They all look a little bit like the UK deal but each one is bespoke," Hassett said.
GATED VILLA
The negotiating teams met at the gated villa of Switzerland's UN ambassador, overlooking Lake Geneva in the leafy suburb of Cologny. Black Mercedes vans with sirens shuttled to and from the venue, which was bathed in bright sunshine.
Neutral Switzerland was chosen as the venue following approaches by Swiss politicians on recent visits to China and the United States.
Washington is seeking to reduce its $295 billion goods trade deficit with Beijing and persuade China to renounce what the United States says is a mercantilist economic model and contribute more to global consumption, a shift that would require politically sensitive domestic reforms.