Egypt, Iraq discuss leveraging 11 MoUs signed in 2023

CAIRO – 23 October 2024: Ambassador to Baghdad Ahmed Samir met Monday with Iraqi Minister of Trade Athir Daoud Salman al-Gherizi to discuss leveraging the 11 MoUs and cooperation protocols signed in June 2023 as an outcome of the joint supreme committee that convened to push forward economic collaboration in different fields.

Minister Gherizi pointed out that there are promising opportunities for Egyptian exports given that the size of Iraq's imports are $74 billion. As such, both Gherizi and Samir said they looked forward to the next session of the committee to take place in January 2025.

Deputy Prime Minister for Industrial Development Kamel al-Wazir, who also serves as minister of industry and transport, held an official visit to the Iraqi capital Baghdad on September 8-10.

Wazir met the Iraqi prime minister, ministers of transport, housing, and industry, and chairman of the investment authority. He also inspected the construction works of the Serafeya Bridge implemented by Samco Egypt.

The visit included talks on implementing developmental projects in Iraq, particularly infrastructure, roads, bridges railways, residential areas, power plants and water treatment plants.

Hence, the representatives of Egyptian firms expressed ability to execute the projects in the best quality while committing to the timeline set by the Iraqi government.  

Egypt's exports to Iraq surged to $308.5 million between January and May, marking a notable rise from $274.7 million in the same period of 2023, reflecting a $34.4 million increase as per recent data unveiled by the Central Agency for Public Mobilization and Statistics (CAPMAS).

In the initial five months of 2024, Egypt's imports from Iraq tallied at $4.1 million, showing a climb from $2.3 million recorded in the corresponding period of 2023, depicting a $1.7 million surge.