Egypt third largest trade partner with Iraq after France, Russia
Iraq-Egypt, Economics, 4/18/2001

Egypt is the third largest trade partner with Iraq after France and Russia, according to Iraqi Minister of Trade, Mohammed Mahdi Saleh who was speaking on the sidelines of a trade exhibition of Egyptian products recently held in Baghdad.

He added that Iraq would organize similar exhibitions in Cairo during the second half of the year.

The move comes within efforts being made by the two countries to restore the once strong economic and trade relations between them.

This was culminated in a Free Trade Zone Agreement the two states signed in January, which is expected to contribute to promoting trade exchange between them.

Businessmen and economists in both states share the view that such exhibitions of Egyptian products in Iraq are significant in acquainting the Iraqi public with the development of Egyptian industries and open fresh prospects for exports there.

However, they said that more steps are needed to enhance exports to the Iraqi market in order to increase them to the aspired 2 billion US dollar next year.

Businessman, Mohammed Abul-Enein, said that exhibitions and fairs played a significant role in increasing exports to the Arab country.

He called for organizing more trade promotion missions to Iraq with the participation of businessmen, exporters and importers in order to have a clear idea of the actual requirements of the Iraqi market and people's tastes.

He stressed the importance of providing adequate information not only on that specific market but also on other target markets.

Abul-Enein, a People's Assembly member and chairman of the investors section at the Federation of Egyptian Chamber of Commerce (FECC) urged Egyptian companies concerned with the Iraqi market to open their own offices in Baghdad or having an Iraqi agent there to follow up the implementation of the deals they would conclude.

He also stressed the importance of further improving the quality and competitiveness of Egyptian products so as to ensure permanent presence there.

"Regular exhibitions and businessmen visits will help in the course of time activate the Free Trade Zone Agreement to achieve balanced bilateral trade ties for the mutual interest of the two countries," businessman Mohamed khameis said.

Khameis who is member of the Investors Association of the 6th of October City underlined the importance of upgrading the performance of the Egyptian Trade Representation Office in Baghdad, which he said was one of the chief mechanisms for promoting exports to Iraq. "this office would function as the eye of Egyptian companies and exporters there," he said.

Khameis stressed the importance of complying with each and every article in contracts concluded in order to gain the confidence of the Iraqi importers and companies.

Businessman Mohammed el-Menouti, who is member of the Engineering Industries Council, also emphasized the important role by the Trade Office in Baghdad.

He cited the example of the active Egyptian Trade Representation Office in Amman, which has been lauded by businessmen and companies dealing with the Jordanian market.

The Amman Office has spared no effort for the promotion of exports to the Jordanian market providing exporters with their requirements of information and data and prepared meetings for them with Jordanian dealers and businessmen during their visits there.

He said that exhibitions and fairs were also an effective way to have access to markets as the target conaumer had the chance to be in direct contact with the products.

Chairman of the General Egyptian Authority for International Fair and Exhibition, Mohammed El-Saeed Saleh, referred to the Iraqi market as "promising for Egyptian exports that prompted the Authority to organize exhibitions for these products there."

He said that the Authority had also made arrangements for the Egyptian companies to participate in the Baghdad International Fair as well as inviting the Iraqi companies to take part in the Cairo International Fair held in March.

Saleh added that his Authority was studying the possibility of organizing specialized fairs to help meet the Iraqi need of Egyptian products in all fields.

He noted that the first exhibition of Egyptian products in Baghdad held in 1998 had helped raise Egyptian exports to the Iraqi market from 60 to about 260 US dollars.

He expected exports to Iraq to rise to about 1.26 billion US dollars during the current nine stages of the Iraq-UN oil for food deal.

Previous Stories:
  Egyptian Iraqi Free Trade Zone agreement effective   (2/27/2001)
  Economic cooperation between Egypt, Iraq   (2/26/2001)
  Ministerial delegation in Baghdad for boosting economic ties   (2/19/2001)

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