Economic group discuss Egypt - Iraq free trade area

The Cabinet Economic Ministerial Group under Prime Minister Atef Ebeid discussed on Sunday the establishment of a Free Trade Area (FTA) with Iraq and a protocol related procedural rules on trade liberalization between the two countries.

In statements on Sunday, Minister of Planning and International Cooperation Ahmed El-Darsh said the protocol will help activate the common Arab market agreement.

It will provide an opportunity for other Arab countries to sign similar protocols. Ebeid also said the meeting tackled the subject of starting a dialogue with the US on setting up a free trade area with it, following suit of the US free trade areas with other states, such as Mexico, Israel and Jordan.

The meeting also reviewed the partnership agreement with the European Union (EU ), El-Darsh said, adding that the economic group will submit its report to President Hosni Mubarak to set the date for initializing the agreement.

The partnership agreement will be accompanied by a plan of action on modernizing Egypt in the fields of Industry, Agriculture, Education, Health and others, Ebeid added.