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Iraq-Egypt Trade Agreement of Strategic Importance: Ramadan
The free trade agreement signed between Iraq and Egypt had strategic significance for the two countries, Iraqi Vice President Taha Yassin Ramadan said early Friday morning after returning home from his three-day visit to Egypt.
He was quoted by the official Iraqi News Agency (INA) as saying that the agreement was strategically significant as it would open a door for other Arab countries to join it.
The visit to Egypt was of equal importance as it would help promote pan-Arab unity, Ramadan said. Ramadan flew to Cairo on Tuesday, becoming the highest ranking Iraqi official to visit Egypt in 10 years.
Ramadan and Egyptian Prime Minister Atef Obeid on Thursday signed a protocol that would establish a free trade zone between the two countries.
After the signing ceremony, Obeid said the trade agreement was the first step towards the establishment of a common Arab market, adding that bilateral economic cooperation would benefit both countries and bring about greater trade exchange and more joint projects.
Ramadan held talks with Egyptian President Hosni Mubarak on Wednesday, focusing on the issue of reaching a pan-Arab reconciliation.
He expressed Baghdad's hope that the coming phase would witness the settlement of all inter-Arab differences.
The Arab world was divided after Iraq invaded Kuwait in 1990, with Jordan and Palestine supporting Iraq, and Egypt, Syria and Lebanon backing Kuwait.
Egypt and Iraq, who broke off ties in 1991, has effectively resumed diplomatic relations in last November at the level of charge d'affaires.
Egypt has become Iraq's largest trade partner in the Arab world and the fifth largest in the world, after Russia, China, France and India.
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