The Partnership and Cooperation Agreement between the European Union and Iraq is the first contractual relationship between the two countries. As such, it highlights the long-term involvement of the European Union in establishing a legal framework for cooperation with Iraq in areas of mutual interest. The objectives of this partnership (between the EU, EU Member States and Iraq) are threefold; Provide an appropriate framework for political dialogue between the parties, allowing for the development of political relations; Promote trade, investment and harmonious economic relations between the two parties (promoting sustainable economic development); To provide a basis for legislative, economic, social, financial and cultural cooperation. The Partnership and Cooperation Agreement between the European Union and Iraq was signed on May 11, 2012. The Partnership and Cooperation Agreement now provides mechanisms to enhance cooperation between the EU and Iraq in areas of mutual interest. At the core of the Partnership and Cooperation Agreement is a regular high-level political dialogue focusing on peace, foreign and security policy, national dialogue and reconciliation, democracy and the rule of law, human rights and good governance, regional stability and integration.