Sadr: Iraqi investments in Egypt will reach 10 billion dollars

Sadr: Iraqi investments in Egypt will reach 10 billion dollars



Twilight News

15 hours ago

The Iraqi ambassador in Cairo, Habib al-Sadr, called on the Egyptian authorities to remove obstacles to the movement of expatriates and money from Iraq to Egypt, which have been stopped for years.

Al-Sadr estimated the volume of investments and tourism in Egypt if the Egyptian authorities allowed a new flow of between 5 and 10 billion dollars a year.

He said that Egyptian companies will have the largest share in the reconstruction process in Iraq as the oldest and oldest in the history of construction and reconstruction in the Middle East, and thanks to the achievements of economic, especially in the energy file, which is transformed by a regional energy center.

The Iraqi ambassador to Cairo said that the inauguration of the Basra-Aqaba oil pipeline will give a strong boost to the relations between the two countries, a huge strategic project linking the wells of Basra through Jordan to Egypt through the port of Aqaba to meet Egypt's needs of oil and more than the need to export it abroad.

He pointed out that Egypt and Iraq constitute the two wings of the Arab Mashreq as a central force in the Middle East and depend on them to advance the Arab nation's security and peace. Therefore, Iraq is heading towards Egypt to reproduce the Egyptian experience in eliminating terrorism and promoting development.

On the Iraqi reconstruction conference which was recently held in Kuwait, al-Sadr stressed that the conference achieved remarkable success at all levels, especially the recognition by the world that Iraq has turned the page of pain and began to open a new page rich in reconstruction, construction, stability and peaceful coexistence.

He pointed out that the conference gathered pledges of $ 30 billion in grants, soft loans and credit facilities in light of the situation experienced by the oil states from the decline in the level of oil prices recently, and its impact on their economies, as well as that a large part of the investment was allocated to the countries participating in the conference and Has exceeded 76 countries to provide an attractive environment for investment.

Sadr said that Iraq is now a positive element in the region, contrary to what the region has previously known as a threat to the Arab region under Saddam Hussein, who has been in Baghdad for many years in wars with neighboring countries such as Kuwait, Saudi Arabia and Iran.

He pointed out that the Iranian statements that have recently resulted in the killing of "Saddam Hussein" by the Iranians are incorrect and completely rejected, saying: "Our country issued a statement on it confirms that the Iraqi decision is sovereign and should not be compromised."

And the US warnings to Iraq not to buy the Russian defense system S400, the Iraqi diplomat said that the decisions of his country is not subject to any external party, the Iraqi decision is independent.

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