Iraqi official urges more Egyptian investment

Iraqi officials recently lauded Egyptian development in the embattled country while urging more investment.  

“Egyptian labor is the best for our urban development,” said Iraqi Transport Minister Amer Abdel Gabbar.

Previously, more three million Egyptians laborers operated in Iraq. The workers, however, were forced to leave the country due to stability concerns.

But Abdel Gabbar said the Iraqi government is currently able to offer attractive opportunities to investors.

“Now is better than any other time to invest in Iraq,” the minister said, adding that the Egyptian-Iraqi trade balance of US$500 million is insufficient.

“The security problem is limited to Baghdad,” he added. “The situation is calm in Basra and other places that offer great opportunities.”  

Meanwhile, Egyptian Trade and Industry Minister Rachid Mohamed Rachid at a joint press conference on Sunday with Kurdish Prime Minister Barham Saleh said the Egyptian government will open a commercial representation office in Erbil.

Rachid also said he will head a delegation of Egyptian companies in November to study investment opportunities in Kurdistan throughout various fields including industry, energy, infrastructure and tourism.

Translated from the Arabic Edition.

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