Iraq Eyes Egyptian Investing Partnership… Targets $400b GDP In 2017

Counselor Kazem Gawad, assistant to the Iraqi minister of trade, said his country represents a big opportunity for the Egyptian companies by the investing participation in the Iraqi development during the coming period especially through providing capitals bolstered by the oil incomes. Iraq is eyeing $ 400 billion GDP in 2017, which demands new investments.

Kazem Gawad, who headed the Iraqi delegation in Egypt, told Amwal Al Ghad that the investing opportunities are available in several productive sectors in Iraq, and the available Iraqi capitals will be supported by the Egyptian participation in investing these opportunities through a partnership that depends on making use of the Egyptian experience, besides the perfect use of the Iraqi wealth.

In his statements to Amwal Al Ghad, Gawad had invited different Egyptian companies to reconsider the Iraqi market, so as to achieve high growth rates in the coming period; referring that the monthly oil income exceeds $ 7 billion; and its annual income is expected to reach $190 billion in 2017.

The Iraqi official emphasized the complete support to the Egyptian investors, whereas Iraq keens on boosting the commercial exchange between the two countries and facilitating the capitals for the direct investment in the framework of the joint strategic relations.

Dr Fouad Eissa, , head of Egyptian Trade Point Sector, Ministry of Industry and Foreign Trade, on his side, said there is a coordination between several governmental sectors to facilitate and support the exchange between Egypt and Iraq.