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Strengthening Ties: Iraq and Egypt Sign 12 New Agreements Worth Over 600 Billion Dinars

Strengthening Economic Ties: Iraq and Egypt Sign New Agreements

In a recent press conference with his Egyptian counterpart, Prime Minister Mohammed Shia Al-Sudani announced the expansion of cooperative agreements between Iraq and Egypt. The two nations initially established 11 memoranda of understanding, which have now been broadened to include 12 additional notes across various sectors. Al-Sudani emphasized the historical ties that bind Iraq and Egypt, stating, "The relationship between Iraq and Egypt, and their peoples, extends back to the civilizations of the Rafidain and the Nile."

Key Areas of Cooperation

Prime Minister Al-Sudani highlighted new areas of focus for bilateral collaboration, including:

  • Land Transport: Enhancing connectivity through improved land transport systems.
  • Combatting Monopoly: Addressing monopolistic practices to foster fair competition.
  • Regional Development: Strengthening economic ties between Baghdad and Cairo.

Al-Sudani pointed out that the reform initiatives adopted by the Iraqi government have attracted significant investment, with Egyptian companies engaging in various projects valued at over 600 billion dinars.

Economic Integration as a Solution

The Prime Minister underscored the importance of economic integration amidst shared challenges, stating, "Integration is the key to solutions between Iraq and Egypt given our economic, climatic, and social challenges." He also noted Iraq’s stability as a vital factor in creating an attractive investment environment.

Shared Vision and Regional Policy

In his remarks, Egyptian Prime Minister Mustafa Madbouly emphasized the deep-rooted bonds of brotherhood and Arab unity between the two nations. He remarked on the alignment of Iraq and Egypt’s visions concerning regional policies, particularly in relation to the plight of the Palestinian people and the rejection of forced displacement measures.

Conclusion

The recent agreements signify a robust commitment to nurturing and expanding economic relations between Iraq and Egypt. As both nations navigate pressing challenges, these collaborative efforts serve as a testament to their shared interests and historical ties, laying the groundwork for enhanced cooperation moving forward.

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