Egypt and Iraq have strengthened their bilateral ties with the signing of 12 cooperation agreements covering key sectors, including local development, industry, trade, transport, culture, and financial regulation.

The Holding Company for Roads, Bridges, and Land Transportation Projects, a state-owned entity affiliated with Egypt’s Ministry of Transport, is seeking to win railway development projects worth approximately $500 million in Iraq.

Egypt is targeting increasing the volume of trade exchange with Iraq by around 41% within the coming year.

The Egyptian Exchange (EGX) has inked a cooperation protocol with the Iraq Stock Exchange to strengthen ties and boost coordination between the two markets.

The Iraqi Ministry of Health is currently discussing setting up and revamping 12 hospitals in Iraq with Egyptian construction firms, with total investments of $480 million.

GB Corp, an Egyptian player in the automotive and financial services sectors, will exclusively distribute Jac and Foton vehicle brands in the Iraqi market via its subsidiary GQ.

Egypt is considering fostering cooperation with Iraq in the petroleum sector.

The Egyptian Ministry of Transportation has coordinated with the Jordanian and Iraqi ministries of transport to set an execution plan for the operation of the first stage of the Arab logistics multi-modal trade line.

Egypt and Iraq have signed 11 memoranda of understanding (MoUs) on the sidelines of the second round of the Egyptian-Iraqi Higher Committee.

Egyptian Prime Minister Mostafa Madbouly expressed his country’s keenness to bolster bilateral cooperation with the Iraqi parliament in several fields that serve the interests of the two countries.