Iraq is considering opening a permanent Egyptian trade center in Baghdad[You must be registered and logged in to see this image.]
Iraq's ambassador to Egypt, Habib al-Sadr, said the Iraqi government was considering the possibility of opening a permanent Egyptian trade center in Baghdad to offer Egyptian investment goods and opportunities in response to a request by the Egyptian side .
Al-Sadr said during a press conference held by the Union of Arab Investors and briefed by the "Economy News" that there is a determination from the Egyptian authorities to establish a logistics area in the port of Nuweiba to support the needs of Egyptian companies contributing to the reconstruction of Iraq .
Al-Sadr pointed out that the influx of tourists from the Iraqi market to Egypt witnessed a noticeable improvement during the first quarter of this year as the number of Iraqi tourists reached 50 thousand, expected to reach 400 thousand Iraqi tourists by the end of 2018 .
He pointed out that "will be soon within 10 days disbursement of pensions of retired Egyptians while the Egyptian authorities promised to activate the banking activities of Rafidain Bank / Cairo Branch to serve commercial exchanges between the two countries ."
He stressed that Iraq is keen to give Egyptian companies and workers priority in the process of reconstruction of Iraq, pointing out that the companies involved in the business are the Arab contractors, Orascom, Petrojet, as well as three other oil companies and two companies specializing in the electricity sector .
He added that "there is no hope for our people in sustainable development without the continuous stimulation of investment opportunities," pointing out that "has recently been opening (the field of Saybah gas) in southern Iraq production capacity will reach the end of this year to about 100 million cubic feet per day and the company (Petrojet) Investment in the field of 20% . "