Iraq targets $1 billion in Iraqi - Egyptian exchange

Iraqi Minister of Trade Mohammed Mahdi Saleh stated that commercial exchange between Egypt and Iraq will reach $300 million this year after being $20 million in 1989.

Saleh said that agreements were signed this month worth $86 million in the fifth phase of the oil-for-food agreement as a result of the UN sanctions on Iraq.

He stated Iraq hopes to increase the volume of commercial exchange between Egypt and Iraq to a $1 billion after lifting the sanctions to benefit from Egyptian international experience in the fields of sugar refinement, agriculture, electricity, education, medicine and construction operations.