Cairo plans to implement development projects in the country, in exchange for oil.
The Egyptian government signed 15 cooperation agreements with the Iraqi government on October 31. They cover the areas of judicial training, petroleum and water resources, stock exchange and environmental protection.
These agreements also concern health, maritime logistics, the development of roads and bridges, housing and construction, the organization of exhibitions, the fight against subsidies and dumping, industrial cooperation, consumer protection as well. than investments.
For the Egyptian authorities, the objective is above all to boost investments in order to take advantage of the economic opportunities offered by Baghdad in the economic and commercial sectors. According to Egyptian Prime Minister Mostafa Madbouly, the land of the Pharaohs plans to step up the implementation of development projects in Iraq to help the country rebuild.
These investments should be made in exchange for oil, Iraq’s main natural resource.
“Today we bring a message of solidarity and congratulations to Iraq which has succeeded through the courage and sacrifices of its people in triumphing over brutal terrorism and overcoming this imminent global danger which threatens all countries and all societies of the world, ”Mostafa Madbouly said during the signing ceremony of the agreements with his Iraqi counterpart, Mustafa Al-Kadhimi.
Source Ecofin Agency