Expansion of Egyptian- Iraqi bilateral cooperation
Iraq-Egypt, Economics, 1/1/2002

Iraq and Egypt have agreed to develop bilateral cooperation in various industrial, trade and technical areas. This was reached in conclusion of works of the joint committee for economic co-operation in Baghdad.

The minutes of meetings of the committee were signed by the Iraqi trade minister Muhammad Mahdi Saleh and the chairman of the Egyptian delegation, who is the foreign minister Youssef Butrous Ghali.

The two Iraqi and Egyptian ministers stressed in two speeches they exchanged on this occasion, their care to work for developing joint cooperation in various areas in 2002 and the years to come and even in the period which followed the sanctions from Iraq.

Minister Saleh said that the talks resulted in drawing the basics to revitalize the free trade which has been implemented as from August 2001, and expanding bilateral cooperation in various economic, trade, scientific and technical fields.

Minister Saleh indicated that the two states are determined to develop the volume of cooperation which reached in 2001 USD 1.7 billion, according to which Egypt has occupied the third rate out of 75 countries Iraq is dealing with into greater extent out of the total cooperation volume in the framework of the " oil-for-food understanding," estimated at USD 5.3 billion.

The Iraqi trade minister said that concentration will be made on 2002 on studying the possibility of holding joint projects in the industrial, agricultural and services areas similar to what had agreed upon with Syria to establish seven joint projects over which technical studies for every and each project will be made.

The minutes included; activating the executive protocol for setting up a joint free trade area which was signed in January 2001 along with supporting cooperation between the Chamber of Commerce and industry unions in both countries.

Also the two sides have agreed on meeting the Iraqi needs of foodstuffs and rehabilating Iraqi plants.

In the oil domain, the two sides have agreed on exchanging expertise and discuss the possibility of manufacturing oil prosection equipment.

The two sides have agreed that Egypt provides Iraq with its needs of pesticides and veterinary pollens.

Previous Stories:
  $3.68bn of contractual agreements for Egyptian companies in Iraq   (12/12/2001)
  Egypt's exports to Iraq rise to $ 1.6 billion in 2001   (12/6/2001)
  Egyptian- Iraqi telecommunications   (9/28/2001)

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