FACTBOX-What is the Iraq Compact?

(Reuters) - The Iraq Compact is an attempt to build international support for the Iraqi state and to lay out the country's reconstruction requirements.

The five-year plan would see financial, political and technical support given in return for political, security and economic reforms.

The compact will be discussed concurrently with a meeting in Sharm el-Sheikh, Egypt, this week between Iraq, its neighbours and world powers including G8 nations and the European Union.

The compact's main points are:

* POLITICAL: A 15-point timetable of legislation to be adopted by the end of 2007. The most important of these, which U.S. officials want passed by the end of summer, are a revenue-sharing oil law, the de-Baathification law to allow members of Saddam Hussein's former ruling party back into public life, and a governorate elections law that will enable a date to be set for provincial polls. It is hoped these benchmarks will foster reconciliation and draw minority Sunni Arabs away from the insurgency and back into the political process.

ECONOMIC: The Iraq Compact sets out a number of economic and fiscal targets. It says Iraq hopes to achieve economic growth of 15.4 percent in 2007, up from 3 pct in 2006. Growth is forecast at 12.9 pct in 2008 and 2009, 9.8 pct 2010, and 5.3 pct in 2011.

It sets a crude oil output target of 3.5 million barrels per day (bpd) by 2011, which would almost double annual crude export revenue to almost $50 billion. It aims for production of 700,000 bpd of refined products by 2011.

Production has been stuck at about 2 million bpd since 2003, with exports of 1.5 million bpd. Iraq has the world's third-largest oil reserves but needs billions of dollars of foreign investment to rebuild the mainstay of its economy.

Other measures include reviewing tax and customs policies and establishing an anti-corruption plan.

SECURITY: The Iraqi army and police is to take over exclusive responsibility for security throughout Iraq under principles of "democratic civilian control" and "one state one army" with the aim of self-sufficiency "prior to the end of the Compact period". This includes the disarming and disbanding of militias. Prime Minister Nuri al-Maliki says U.S.-led troops will only withdraw when Iraqis are ready to take over security.