Iraqi and Egyptian Prime Ministers Lead Economic Cooperation at Cairo Business Forum

Shafaq News/ The Iraqi-Egyptian Business Forum kicked off in Cairo on Tuesday, with the presence of Prime Ministers Mohamed Shiaa Al-Sudani and Mustafa Madbouly.

The forum serves as a platform to enhance economic cooperation between the two nations and witnessed the participation of prominent Iraqi and Egyptian businessmen and women.

In a statement, Prime Minister Al-Sudani's media office emphasized the significance of the Iraqi private sector's active involvement in the forum, highlighting their strong desire to collaborate with the government.

Al-Sudani underscored that the tripartite budget approved by Parliament includes provisions aimed at supporting the private sector and providing it with sovereign guarantees. This commitment reflects the Iraqi government's dedication to implementing pivotal projects in the housing and education sectors.

Furthermore, Al-Sudani revealed the Iraq Fund for Development establishment, endowed with a capital of one trillion dinars. The fund will allocate specialized funds for housing, schools, electricity, agriculture, health, and industry. The responsibility for implementing these projects will lie with the private sector, which will receive support from the government and be provided with a conducive investment environment.

Al-Sudani expressed his determination to promote the localization of pharmaceutical industries. Measures and facilities have been outlined to facilitate the entry of producers and manufacturers into Iraq, enabling them to establish their factories. The government has also laid out plans for manufacturing and petrochemical projects, aiming to boost the country's industrial sector further.

Recognizing the pressing need for factories producing modern irrigation technologies to combat water scarcity, Al-Sudani reiterated the government's commitment to supporting initiatives in this area.

The prime minister emphasized the importance of fostering partnerships between the private sectors of Egypt and Iraq. He called for a comprehensive review of trade exchange between the two countries, aiming to enhance economic ties and promote cooperation.

The Iraqi-Egyptian Business Forum serves as a crucial platform for meaningful dialogue and collaboration between the business communities of Iraq and Egypt. It facilitates exchanging ideas, exploring investment opportunities and fosters economic growth in both nations.