CAIRO — On Dec. 4, the Federation of Egyptian Chambers of Commerce announced that a newly formed unit is collecting information on reconstruction projects in Arab countries, including financing opportunities, for the use of interested Egyptian companies.
In a statement, the federation noted that the Egyptian government has come a long way in establishing a strategic partnership with the Iraqi government regarding the reconstruction of Iraq, as well as other countries such as Lebanon, Libya and South Sudan.
On Nov. 1, Egyptian Prime Minister Mostafa Madbouly and his Iraqi counterpart Mustafa al-Kadhimi signed 15 agreements and memoranda of understanding for the reconstruction of Iraq through several projects in the electricity, renewable energy, petroleum, mineral wealth, housing, transportation, investment, trade and industry sectors in partnership with the Egyptian government and private sector.
Kamal al-Desouki, vice president of the Building Materials Industries Chamber at the Federation of Egyptian Industries, told Al-Monitor that with Egyptian and Iraqi reconstruction agreements, he expects Egyptian building material exports to reach $6 billion by 2021.
AL-MONITOR All-Access gives you unlimited access to all our journalism, the full Daily Briefing, exclusive interviews, premium newsletters, and live events — for less than $2/week.