Egypt’s trade and industry minister, Nevine Gamea attending the tripartite virtual meeting of Egypt, Jordan and Iraq to discuss intra-trade cooperation. (Photo: Al-Ahram)
Egypt will begin in a few days an operation to overhaul Iraq’s factories and assess investment opportunities in cooperation with Jordan, the purpose being to fulfil the Iraqi market's needs, the cabinet said on Thursday.
The operation is part of an agreement signed between Egypt, Jordan and Iraq in early December to establish commercial integration between the trio.
Egypt and Jordan will send technical teams to Baghdad to identify the needs of the Iraqi market.
The project was sealed during a virtual meeting attended by the trade and industry minister, Nevine Gamea, her Jordanian counterpart Maha Ali, Iraqi Minister of Industry and Minerals Manhal Aziz Al-Khabaz, and officials from the Egyptian industry ministry.
Gamea said the meeting is the outcome of a visit by the Jordanian and Iraqi ministers to Egypt this month during which they emphasised the importance of enhancing integration and joint economic, commercial and investment cooperation between the three countries through the implementation of a number of joint projects, especially in the industrial and commercial fields.
Tripartite cooperation will prioritise the pharmaceutical industries, including veterinary medicines, chemical industries, petrochemicals, leather and ceramics, Gamea said.
Egypt and Jordan also consider the establishment of a permanent exhibition for their products in Baghdad, the statement added.
The three ministers agreed in the meeting to consider facilities of the anticipated intra-trade movement by prioritising products' access to the markets of the three countries.
The meeting also reviewed ways of employing the Egyptian industrial expertise in the construction of industrial zones and complexes in the economic city on the borders between Iraq and Jordan, which could be a focal point for enhancing industrial cooperation between the three countries.
Al-Khabaz affirmed his Iraq's eagerness to open up to the Egyptian and Jordanian markets and to take steps towards economic integration, especially in light of the Iraqi government's aspiration to restore its strong economic relations on the regional and Arab levels.
Ali invited the Egyptian and Jordanian minsters to head the technical team delegation on its visit to Baghdad to implement the project
Meanwhile, the Jordanian minister highlighted the necessity of linking between the customs agencies in the three countries to facilitate the process of trade exchange and the conduct of trade movement.