Egyptian delegation to visit Iraq to increase joint trade exchange

BAGHDAD / IraqiNews.com: Egypt’s Prime Minister, Kamal al-Janzoury, had assigned 7 of his cabinet ministers, involved in economic affairs to visit Iraq next week, in order to contribute strongly in the building and reconstruction projects in Iraq, and to increase the joint trade exchange between both countries to US $2 billion (b), the Egyptian al-Jumhuriya Newspaper reported on Monday. “Prime Minister Kamal al-Janzoury has assigned 7 cabinet ministers involved in economic, housing, industry, trade, telecommunications, Information Technology, health, electricity & power, labor manpower and immigration, to visit Iraq next week, to conclude agreements with Iraqi officials and companies, aimed at strongly sharing in construction, building and reconstruction in Iraq,” the newspaper stressed. It quoted the Egyptian Minister of Planning & International Cooperation, Faiza Abul-Naja, as having said in a news conference, that “chances for the participation of Egyptian companies in Iraqi projects, in the field of development and reconstruction are promising, due to the expansion of the Iraqi Budget, the Baghdad government had allocated to implement reconstruction projects, that had reached 500 billion (b) US dollars, confirming that Iraq‘s Budget is considered the second largest budget in the Arab states, after Saudi Arabia.” “Janzoury had reiterated necessity to accelerate the plans of the entrance of Egyptian companies strongly in the Iraqi market, in order to increase the trade exchange to 2 billion (b) US dollars, especially that the Iraqi side is demanding such presence, due to its confidence in the Egyptian companies potentials to compete with international specifications,” Abul-Naja said. On his part, Egypt’s Minister of Industry & Trade.Mahmoud Issa, said that “the Egyptian-Iraqi Committee shall discuss several issues, including the Egyptian products, that enjoy a good reputation in Iraq, and we want it back there, along with the increase of the exports and the elimination of obstacles related to exports between both sides.” The Egyptian Minister said that “Egyptian ambitions strive to achieve a trade exchange that exceeds 2 billion (b) US dollars, after a decrease that exceeded half billion dollars during the current phase.” SKH (TI)/SR 744