Egypt Seen Iraqi Investments up to $1 bln in 2015 – Official

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The volume of the Iraqi investments in Egypt will record US$ one billion next year, said Waleed Helal, Chairman of the Egyptian Chemical and Fertilizers Export Council (CEC).

Helal has made his remarks in the wake of signing a Protocol on Cooperation between the council and Iraqi Businessmen Association (IBA) on Monday. CEC and IBA signed the protocol on the sidelines of Jordan’s International Exhibition for Industries, which kicked off on May 11th. The three-day event in Amman is exhibiting products of more than 100 companies, including 40 companies from Egypt.

Meanwhile, Helal elaborated that the protocol signed with IBA aims to remove all obstacles in the path of Egypt’s exports in Iraqi market. In addition, the protocol may enable the Egyptian firms to participate in the reconstruction process in Iraq and boost the bilateral cooperation between the two countries, notably in areas of new and renewable energy and petroleum.