Egypt Kurds and Iraq Discuss Debt

[c5tech]

Egypt’s Foreign Minister, Ahmed Abul Gheit, officially opened his country’s consulate in Erbil on Sunday; this is the first Arab consulate to be opened in the Kurdish region, according to a report from Bloomberg.

The opening of the consulate is expected to boost bilateral ties between Egypt and Iraq and Kurdistan Region.

The minister stressed that Egypt would support Iraq and was willing to settle the issue of debts owed by Iraq to his country. According to the Egyptian estimates, the debt owed by Iraq is US$2 billion, including the compensations and interest rates of the companies and individuals affected by Iraq’s Kuwait invasion in 1990 and the following wars.

“Today is full of mutual friendship, brotherhood, and love for the Egyptian people and the people, government and presidency of Iraq, and the Kurdistan Region” said Abul Gheit, “Our goal is to be present all over Iraq to help in establishing peace and stability”.

Iraqi Foreign Minister Zebari said “The opening of this consulate in Erbil city means the ongoing Egyptian relations with Iraq and the Kurdistan Region” said Zebari, “which is a very important initiative for the development of bilateral ties in all aspects”.

He welcomed Egypt’s “strong presence” in Iraq and hoped the relations benefited both countries. Egypt is also working to launch flights</a> from Cairo to the Kurdish region.</p>

The Kurdistan Region, due to its stability and security, has served as a gateway to the rest of Iraq. Abul Gheit said Egyptian companies would flow into Erbil and expand to the rest of the Iraqi cities.</p>

According to Iraqi officials, Egyptian companies are urged to invest in Iraq's electricity sector.

Abul Gheit is expected to head to Sulaimaniyah Monday to meet Iraq President Jalal Talabani.

(Sources: AKnews, KRG)

http://www.iraq-businessnews.com/2010/12/27/egypt-opens-consulate-in-erbil-discusses-2bn-debt/

[behaviorkat]

More debt discussion --- this is good, may have been posted already.

[Carrello]

Thank you for the post.

This information has been posted previously......but at this point, I am happy to get good news twice.

The more discussion about debt by debtors, the better. A subtle reminder that IRAQ needs to commence with the REVALUATION ALREADY. OIY!