DUBAI, UAE - Iraqi Prime Minister Mohammed Shia’ al-Sudani met Monday with Ahmed El Sewedy, chairman of Egypt's El Sewedy Group, along with several other managers from Egyptian industrial and commercial companies, to discuss strengthening economic ties and exploring investment opportunities in Iraq.

During the meeting, Sudani emphasized the expanding economic cooperation between Baghdad and Cairo, particularly in partnerships with the Egyptian private sector. He noted that Iraq has received investment proposals exceeding $100 billion from Arab and foreign companies, underscoring significant economic growth across multiple sectors.

The talks focused on collaboration in key areas such as industry, education, energy, and infrastructure. The two sides also discussed opportunities in the petroleum sector, the localization of power transformer manufacturing, and the production of smart meters connected to the electrical grid. The conversation also covered plans for carbon steel production.

Sudani and the Egyptian delegation agreed to initiate a study for the establishment of industrial cities in Baghdad. The ElSewedy Group presented a roadmap of proposed projects, which will be reviewed by Iraq’s Advisory Board and relevant government bodies.

The meeting was attended by several of the prime minister’s advisors.

In August 2024, Iraqi PM Sudani visited Egypt, where he met with top Egyptian business leaders to discuss enhancing bilateral trade and investment. Egypt set a target to increase trade with Iraq by 41 percent, aiming to reach a trade volume of one billion dollars in 2025, up from the current $707 million annually.

During the meeting, major Egyptian companies, including Orascom, Hassan Allam, and ElSewedy, expressed interest in sectors such as infrastructure, pharmaceuticals, and construction.

Sudani assured Egyptian companies of government guarantees and promised to provide detailed information on investment opportunities within two weeks. The discussions highlighted Iraq’s focus on attracting Egyptian expertise in projects like the Development Road initiative and revitalizing local industries, signaling a strategic move toward deeper economic collaboration between the two nations.