Shafaq News / The Iraqi government denied on Tuesday setting an agreement to barter oil in exchange for reconstruction with its Egyptian counterpart. 

The Government spokesman, Ahmed Mulla Talal, said in a press conference attended by Shafaq News agency, "We deny that the government signed an agreement with Egypt under the oil-for-Construction clause," noting, "the signed understandings with Egypt is an outcome of the tripartite summit".

Mulla Talal added, "Egyptian companies will implement important projects in the country".

On October 31, the Iraqi government signed fifteen memoranda of understanding and a program of cooperation with the Egyptian government in the fields of transportation, water resources, health, environment, justice, investment, housing, construction, industry, trade and finance.