Egypt, Iraq pen agreements to boost economic, trade, cultural cooperation

Updated 2/2/2025 5:06:00 AM

Arab Finance: 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, as per a statement.

The agreements were signed in the presence of Egyptian Prime Minister Mostafa Madbouly and his Iraqi counterpart Mohammed Shia' Al Sudani, following the latest session of the Egyptian-Iraqi Joint Higher Committee.

Among the agreements was a draft cooperation protocol in local development, signed by the Egyptian Minister of Local Development Manal Awad and the Iraqi Deputy Prime Minister and Minister of Planning Mohammed Tamim.

The two countries also formalized a memorandum of understanding (MoU) on standardization and quality control, signed by Egyptian Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir and Iraqi Minister of Planning.

In the trade sector, the Egyptian Holding Company for Silos and Storage (EHCSS) and the Iraqi General Company for Grain Trade signed an MoU to exchange expertise in silo construction, operation, and maintenance. Egyptian Minister of Supply and Internal Trade Sherif Farouk and Iraqi Minister of Trade Atheer Dawood Al Ghurairi signed the agreement.

Additionally, both sides inked an MoU for land transport of passengers and goods, with Kamel El-Wazir signing on behalf of Egypt and Iraqi Minister of Transport Razzaq Muhaibis Al-Saadawi representing Iraq.

Cultural cooperation was also a focal point, with the two countries signing a series of MoUs.

One agreement was reached between Iraq’s National Library and Archive and Egypt’s Ministry of Culture, signed by the Egyptian Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat and the Iraqi Minister of Culture, Tourism, and Antiquities Ahmed Fakak Al-Badrani.

Another MoU focused on antiquities and museums, formalized between Egypt’s Supreme Council of Antiquities and the Iraqi State Board of Antiquities and Heritage (SBAH). Both agreements were signed by Al-Mashat and Al-Badrani.

Further strengthening cultural ties, the two parties signed an executive program for cultural cooperation for 2025–2027, also signed by Al-Mashat and Al-Badrani.

Meanwhile, cooperation between Baghdad and Cairo was reinforced with an MoU between the Secretariat of Baghdad and the Cairo Governorate, signed by Manal Awad and Baghdad Mayor Ammar Musa.

In the financial sector, an MoU was signed between Iraq’s Securities Commission and Egypt’s Financial Regulatory Authority (FRA) to regulate and oversee financial markets.

It was signed by FRA's Vice President Islam Azzam and Iraqi Securities Commission Chairman Faisal Al-Haimus.

Another MoU covered telecommunications and information technology, signed between Iraq’s Communications and Media Commission and Egypt’s National Telecommunications Regulatory Authority (NTRA).

Business ties between the two countries were also reinforced with an MoU between the Federation of Egyptian Chambers of Commerce and the Federation of Iraqi Chambers of Commerce, signed by Egyptian Vice President Mohamed Saada and Iraqi Chairman Abdul Razzaq Al-Zuhairi.

Additionally, the two nations signed an MoU between Egypt’s Competition Authority (ECA) and Iraq’s Competition and Antitrust Council to promote competition and prevent monopolistic practices.

The session concluded with Prime Ministers Madbouly and Al-Sudani signing the official minutes of the committee’s third session, underscoring both nations’ commitment to deepening cooperation across economic, trade, and cultural sectors.