Egyptian cancellation of debt owed by Iraq in return for free oil shipments
Egyptian cancellation of debt owed by Iraq in return for free oil shipments
29-01-2015 06:50 PM
The Minister in the government of Prime Minister, Haider al-Abadi, from reaching Baghdad to the semi-final agreement with Cairo on the outstanding debt owed by Iraq to Egypt, amounting to about one billion and $ 700 million, during a recent visit to the Prime Minister, Haider al-Abadi, to Cairo, early this month. The minister said, in a press statement, seen by the (news), on condition of anonymity, ensure the confidentiality of the deal, which has not been officially announced yet, said: ‘ministerial committee joint Iraqi – Egyptian reached an agreement on the twentieth of this month to cancel Egypt bureau accumulated on Iraq, against the granting of Baghdad, Cairo, shipments of oil under a special program has been agreed upon. ”
He added that the ‘oil shipments will arrive to Egypt through the Persian Gulf via the Egyptian and Emirati and Iraqi oil tankers. ”
For his part, member of the Energy Committee in Parliament, MP Mohammed Hassan, the agreement, which he described B’almanm. ‘
Hassan explained that the agreement ending the financial crisis between the two countries lasted for more than 24 years, after the first Gulf War events.
He pointed out that ‘the agreement also included the granting of Baghdad special privileges Egyptian investment companies, including the granting preference in the competition for housing and reconstruction projects, and the introduction of the hands of the Egyptian labor licenses’.
He stressed that the semi-final of the agreement, expected to sign it within a few weeks in the capital, Baghdad.
The refusal of the Central Bank of Iraq in more than once outstanding debt to pay for the benefit of Egypt at once, which was demanded by Cairo.
Iraq was demanding schedule this debt, what stopped the talks the two sides to reach a final solution to this dispute during the era of former Prime Minister, Nouri al-Maliki.
ikhnews.com
