Iraq, Egypt Sign 15 Agreements and MoUs

A handout picture released by the Iraqi Presidency shows President Barham Salih (R) receiving Egyptian Prime Minister Mostafa Madbouly for talks in the capital Baghdad, on October 31, 2020. (Photo by - / IRAQI PRESIDENCY / AFP)
A handout picture released by the Iraqi Presidency shows President Barham Salih (R) receiving Egyptian Prime Minister Mostafa Madbouly for talks in the capital Baghdad, on October 31, 2020. (Photo by - / IRAQI PRESIDENCY / AFP)
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Iraq, Egypt Sign 15 Agreements and MoUs

A handout picture released by the Iraqi Presidency shows President Barham Salih (R) receiving Egyptian Prime Minister Mostafa Madbouly for talks in the capital Baghdad, on October 31, 2020. (Photo by - / IRAQI PRESIDENCY / AFP)
A handout picture released by the Iraqi Presidency shows President Barham Salih (R) receiving Egyptian Prime Minister Mostafa Madbouly for talks in the capital Baghdad, on October 31, 2020. (Photo by - / IRAQI PRESIDENCY / AFP)

Baghdad and Cairo on Saturday boosted bilateral cooperation by inking 15 agreements and memoranda of understanding during a meeting of the Iraqi-Egyptian High Joint Committee headed by Iraqi Prime Minister Mustafa al-Kadhimi and his Egyptian counterpart, Mostafa Madbouly.

Accompanied by a high-level ministerial delegation, Madbouly arrived in the Iraqi capital to co-chair the meetings of the committee, meet Iraqi leaders and sign the MoUs.

The MoUs encompass fields of transport, water resources, health, environment, justice, investment, housing, construction, industry, trade and finance.

Noting that the meeting of the committee comes at a critical time, Madbouly emphasized the importance of enhancing cooperation between Cairo and Baghdad to face common challenges and dangers through establishing a strategic partnership.

Madbouly said that the region was witnessing successive developments.

The Egyptian PM said that his country’s policy towards Baghdad is founded on the principals of preserving Iraqi sovereignty and rejecting all forms of foreign interference in its affairs.

He also voiced rejection to illegal attacks taking place within Iraq, stressing that Egypt fully understands the political, historic and geographic particularities of the country.

Madbouly added that Iraq has a chance to become an arena for interests to meet.

Addressing the committee meeting, Madbouly praised "what was initially agreed upon concerning the importance of establishing an oil-for-reconstruction mechanism," which he added would contribute to double cooperation between both countries.

Madbouly told the Iraqi side that the Egyptian construction companies are ready to help reconstruct and develop Iraq's infrastructure.

He also said that the high committee meetings aim at maximizing the mutual benefit from the experiences and capabilities of the two countries in various fields.

Madbouly called for utilizing what he described as "great production and export potentials" that both countries enjoy.

Kadhimi stressed that his country looks forward to working with Egypt and strengthening cooperation between the two countries, while noting that the Iraqi government attaches utmost importance to the joint committee.

Kadhimi also thanked the Egyptian people and President Abdel Fattah Al-Sisi for sending 15 tons of medical aid to Iraq.



Syria’s Finance Minister Says Foreign Investors Welcome after US Sanctions Move

A girl holds a Syrian flag, as people celebrate after US President Donald Trump said on Tuesday he would order the lifting of sanctions on Syria, in Damascus, Syria May 13 , 2025. (Reuters)
A girl holds a Syrian flag, as people celebrate after US President Donald Trump said on Tuesday he would order the lifting of sanctions on Syria, in Damascus, Syria May 13 , 2025. (Reuters)
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Syria’s Finance Minister Says Foreign Investors Welcome after US Sanctions Move

A girl holds a Syrian flag, as people celebrate after US President Donald Trump said on Tuesday he would order the lifting of sanctions on Syria, in Damascus, Syria May 13 , 2025. (Reuters)
A girl holds a Syrian flag, as people celebrate after US President Donald Trump said on Tuesday he would order the lifting of sanctions on Syria, in Damascus, Syria May 13 , 2025. (Reuters)

Syrian Finance Minister Yisr Barnieh made a call to global investors on Wednesday to come do business with Syria after US President Donald Trump's surprise announcement that he would lift all of Washington's sanctions on the country.

"Syria today is a land of opportunities, with immense potential across every sector—from agriculture to oil, tourism, infrastructure, and transportation,” Barnieh said in an interview with Reuters at the Finance Ministry in Damascus.

"We envision a central role for the private sector in the new Syrian economy. The finance ministry's role is not to spend indiscriminately or act as a regulatory enforcer over businesses, but rather to enable and support growth."

A wall outside his office still bore the discolored outline of one of the many posters of former strongman Bashar al-Assad that used to hang in Syria's public buildings before his ousting by the Hayat Tahrir al-Sham (HTS) last year.

Changes in Syria have been swift since Assad fled to Russia in December of last year.

HTS commander Ahmed Sharaa was appointed president, formed a government and had quick success garnering Gulf Arab support and getting most European sanctions lifted.

The stunning turn of events was capped by a meeting between Sharaa and Trump in Riyadh on Wednesday after Trump's pledge to cease US sanctions imposed on Syria under Assad-family rule, measures widely seen as the biggest external obstacles to the country's economic recovery.

Trump has not set out a timeline for removal.

"One of the most critical outcomes of lifting sanctions would be Syria's reintegration into the global financial system," Barnieh said.

"This would allow us to restore financial flows and attract investments, which are urgently needed across all sectors,” he said, adding that Syrian authorities have already seen strong interest from Saudi Arabia, the UAE, Kuwait, Qatar, and several EU countries, among others.

He noted that the government is undertaking a comprehensive overhaul of public financial management, including reforms to the tax system, customs, and banking -- part of a broader effort to modernize an economy long burdened by an oversized public sector.

He also struck a cautioning tone, saying that the removal of sanctions would be just the first step in a years-long recovery for a country ruined by 14 years of war.

"The lifting of sanctions is not the final chapter," he said.

"We cannot afford to become complacent. We are entering a new phase that demands real results and visible progress on the ground."