U.S. President Barack Obama said Sunday that the Iraqi parliament's approval on 2010 Election Law is 'an important milestone' toward Iraq's democracy and national unity. 'This is an important milestone as the Iraqi people continue to take responsibility for their future,' President Obama said in a statement, adding that the approval is 'another reminder that these enemies of the Iraqi people will fail.' Early on Sunday, the Iraqi parliament passed the election law required for national elections to be held in January. Prime Minister Nouri al-Maliki warned that Iraq could spiral into a new cycle of chaos if the elections could not be held. 'This agreement advances the political progress that can bring lasting peace and unity to Iraq, and allow for the orderly and responsible transition of American combat troops out of Iraq by next September,' said President Obama. 'The United States will continue to stand with Iraq as a strong partner and as a friend,' he added. 