Egypt - Iraq joint trade zone promotes economic, industrial relations

Economy and Foreign Trade Minister Youssef Boutros Ghali voiced readiness to visit Iraq as soon as possible at the head of an economic and trade delegation and with the participation of a number of Egyptian export firms.

In statements following the signing of the protocol establishing a joint trade zone between the two countries, Ghali said the visit aims at concluding bilateral accords for commodities and services needed by Iraq.

"The protocol is featured as a positive step towards achieving more economic and industrial integration between the two sides" he said expecting Egyptian exports to Iraq to increase this year to approximately $ 2 billion in comparison to $ 1 billion last year.

"The protocol also serves as a step on the road to freeing trade movement among Arab countries, and towards setting up the' hoped-for Arab common market, as it is open for any Arab state' to join" he added.