![]() It is likely to invest in strategic projects that will generate jobs and improve ordinary Iraqis’ quality of life, such as power generation, education and health care. ![]() Saudi Arabia can leverage its considerable financial muscle to outdo Iran in the economic sphere. Last, abolishing visa fees is considerably less than what Iran wanted, which was a visa-free regime. ![]() There is significant pressure on Baghdad from the US to diversify its energy sources away from Iran. Iran can ill-afford to invest in the rail project, as its economy is reeling from the impact of US sanctions. These are, however, notional achievements. The most significant economic achievements from the visit were memoranda of understanding on increasing Iranian energy exports to Iraq and a rail link between the two countries, besides abolishing visa fees for each other’s citizens from next month. Rouhani also sought to deepen Iran’s economic engagement with Iraq.
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