Iraqi Investments in Egypt Amount To $500 million, Egyptian Trade Minister Says

Shafaq News/ Ahmed Samir, Egypt's Minister of Trade and Industry, on Tuesday said that the volume of Iraqi investments in his country has nearly reached $500 million.

Samir made this statement during a speech he delivered at the launch of the Egyptian-Iraqi Business Forum on Tuesday.

The event, headed by Prime Minister Mustafa Madbouli and his Iraqi counterpart Mohammed Shia al-Sudani, saw the attendance of numerous ministers, officials, and businesspeople from both countries.

Samir remarked that although the volume of trade exchange between the two countries has reached about $500 million, it constitutes an extremely small percentage of the total foreign trade of both nations with the world.

He said that there are vast and diverse opportunities to increase the volume of trade exchange between Egypt and Iraq.

The minister indicated that the volume of Egyptian investments in Iraq amounts to about $200 million, whereas Iraqi investments in Egypt stand at around $500 million.

Madbouly affirmed that both sides can boost their investment volumes, which will maximize cooperation opportunities and bolster the national economy in both countries.