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Egypt, Iraq sign $216 m worth framework agreement

BAGHDAD: Egypt’s Minister of Trade and Industry Tareq Qabil and his Iraqi counterpart Mohammed Shia’ Al-Sudani signed an urgent framework agreement Thursday to meet the Iraqi needs from food products.

The $216 million deal reflects Egypt’s keenness on supporting Iraq and boosting friendship linking the two Arab countries, Qabil said in a statement.

Under the deal, purchase agreements would be inked between the Iraqi State Company for Foodstuff Trading and a number of Egyptian private sector companies, the statement said.

The agreement will be effective for a renewable six-month term, the statement added. The two sides agreed on forming an Egyptian-Iraqi business council to boost bilateral relations, the minister said.

Egypt Iraq sign $216 m worth framework agreement 2016-02-19
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