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 months of 2024, according to data from Egypt's Central Agency for Public Mobilization and Statistics.
The agency reported, "Total Egyptian exports to Iraq reached $308.553 million from January to May 2024, representing a significant increase compared to $274.073 million 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 $1.748 million."
The trade volume between Egypt and Iraq is notable in Egypt's broader trade with Arab common market countries. Overall, Egyptian exports to these nations increased to $1.639 billion from January to May 2024, compared to $1.448 billion in the same period of 2023, marking an increase of $191.778 million.
On Tuesday, Iraqi Prime Minister Mohammed Shia Al-Sudani visited Cairo and met with Egyptian President Abdel Fattah El-Sisi in El Alamein, focusing on strengthening bilateral economic ties and regional cooperation. Al-Sudani highlighted Iraq's recovery and the investment opportunities available in infrastructure, housing, and industrial projects, including the Development Road Project and the Al Faw Grand Port.
In a separate meeting, Al-Sudani engaged with Egyptian business leaders to discuss enhancing economic integration and investment. Both meetings underscored the strategic importance of the Iraq-Egypt relationship and the mutual benefits of expanding cooperation across various sectors.
