Egypt talks part in rehabilitation of Iraqi factories

Egyptian Industry and Technological Development Minister Ali El-Saeedi said yesterday that Egypt would take part in the rehabilitation of Iraqi factories and setting up new projects to upgrade competitiveness of Iraqi industries.

In a statement following his meeting with Iraqi Industry and Minerals Minister Muyassar Raja Shalah, Saeedi said-an Egyptian cement factory would be in charge of rehabilitating a cement factory in Iraq. Relevant studies would be conducted within the coming 15 days, said the minister.

Saeedi highlighted the deeply rooted relations between Egypt and Iraq, especially in the trade and industrial domains. Trade exchange between Egypt and Iraq reached $ 1.7 billion and both sides hope the figure would hit $ 3 billion this year, he said.

Shalah, on his part, said he came to Egypt to be updated on the Egyptian experience in the field of modernizing industry.

During their meeting, Saeedi and Shalah probed means to boost cooperation in the various industrial domains.