Economic integration

Egypt and Iraq discuss means of tripartite economic integration with Jordan

Egyptian Minister of Trade and Industry Nevine Gamea met with Iraqi Minister of Planning Khalid Najim to discuss means of tripartite economic integration between the two countries and Jordan.

Gamea also confirmed that the founding of an economic city on the borders between Iraq and Jordan represents a focal point to start the implementation of the decisions taken at the presidential summit hosted by Baghdad last week.

The minister said the summit aimed to achieve economic integration between Egypt, Iraq and Jordan.

She expressed the concern of the Egyptian government to provide its expertise to establish and manage industrial zones and complexes. This with the aim of establishing industrial partnerships between the business communities of the three countries.

Gamea underlined the importance of benefiting from the consensus of visions between the leaders of the three countries, to achieve a qualitative leap in strategic economic relations. It will benefit and serve the interests of the people of Egypt, Iraq and Jordan.

The minister’s remarks came at the end of her recent trip to Iraq, during a session of in-depth talks held with Najim, who is also the coordinator of tripartite cooperation within the Iraqi government.

The meeting discussed the future of economic cooperation between the two countries, and a number of economic issues of common interest.

Gamea said the meeting also focused on a discussion on activating joint action between Egypt, Iraq and Jordan. This aims to accelerate the implementation of development projects agreed between the political leaders of the three countries.

In addition to this, a comprehensive action plan has been agreed with a specific timetable and objectives, to achieve the desired cooperation and establish partnerships between the private sectors in Egypt, Iraq and Jordan.

The meeting also saw discussions on ways to improve joint bilateral cooperation between Egypt and Iraq, especially in the area of ​​industry development and increased trade.

This would see a strengthening of partnership relations between the Egyptian and Iraqi private sectors, to start implementing joint production and investment projects. In addition, it would help to strengthen cooperation in the area of ​​micro, small and medium-sized enterprises (MSMEs) development.

Gamea said Egypt is fully ready to provide expertise in this area, especially as the MSME sector accounts for over 90% of the country’s economy. There is also the possibility of exchanging experiences in the field of handicrafts, for which both countries are famous.

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