Egyptian exports to Iraq exceed $300 million in five months
Shafaq News/Egyptian exports to Iraq have surged past $300 million in the first five monthsof 2024, according to data from Egypt's Central Agency for Public Mobilizationand Statistics.
The agencyreported, "Total Egyptian exports to Iraq reached $308.553 million fromJanuary to May 2024, representing a significant increase compared to $274.073million in the same period of 2023, marking a rise of $34.48 million."
In contrast,Egyptian imports from Iraq also saw a modest increase during this period."Imports totaled $4.105 million in the first five months of 2024, up from$2.357 million in the same period last year, reflecting a rise of $1.748million."
The tradevolume between Egypt and Iraq is notable in Egypt's broader trade with Arabcommon market countries. Overall, Egyptian exports to these nations increasedto $1.639 billion from January to May 2024, compared to $1.448 billion in thesame period of 2023, marking an increase of $191.778 million.
On Tuesday,Iraqi Prime Minister Mohammed Shia Al-Sudani visited Cairo and met withEgyptian President Abdel Fattah El-Sisi in El Alamein, focusing onstrengthening bilateral economic ties and regional cooperation. Al-Sudanihighlighted Iraq's recovery and the investment opportunities available ininfrastructure, housing, and industrial projects, including the DevelopmentRoad Project and the Al Faw Grand Port.
In aseparate meeting, Al-Sudani engaged with Egyptian business leaders to discussenhancing economic integration and investment. Both meetings underscored thestrategic importance of the Iraq-Egypt relationship and the mutual benefits ofexpanding cooperation across various sectors.
