Shafaq News/ Iraqi Prime Minister Mohammed Shia Al-Sudani announced on Thursday that Iraq’s economic reforms are creating new opportunities for Egyptian businesses to expand into the country.

Speaking at the Iraqi-Egyptian Economic Forum in Baghdad, alongside Egyptian Prime Minister Mostafa Madbouly, Al-Sudani emphasized the strong historical and economic ties between the two nations. He highlighted the role of the private sector in strengthening these relations, saying, “Iraq and Egypt share deep-rooted social and economic connections that provide a solid foundation for investment and growth.”

The forum, as reported by Shafaq News correspondent, was attended by over 300 business leaders from both countries and was organized by the Iraqi and Egyptian chambers of commerce to explore new business and investment opportunities.

Notably, according to a statement shared by his media office's official Facebook page, Al-Sudani stressed that Iraq’s economic reforms, covering banking, taxation, and investment, are making it easier for Egyptian companies to operate in the country. He also encouraged Iraqi businesses to expand their reach into Egypt. “We want to see stronger partnerships that create more opportunities for both Iraqi and Egyptian businesses,” he said.

On the other hand, Egyptian Prime Minister Mostafa Madbouly reaffirmed Egypt’s commitment to economic cooperation with Iraq, saying his country is eager to help Iraq become a hub for industry, agriculture, and trade. He also pointed to the challenges facing the region, stressing the need for economic integration and political cooperation to support growth and stability.

In addition to economic cooperation, Prime Minister Mohammed Al-Sudani and his Egyptian counterpart addressed regional security and the need for joint efforts to combat terrorism. They also underscored the importance of cultural exchange programs to strengthen ties between the people of Iraq and Egypt.

"Enhancing our cultural connections will foster mutual understanding and solidarity between our nations," Al-Sudani stated. Meanwhile, Madbouly emphasized the security aspect, saying, "Collaborative security measures are essential for the stability and prosperity of both countries."