World Bulletin / News Desk
General Abdulfettah al-Sisi, the mastermind behind the military coup which dethroned the democratically elected president Mohammad Morsi, has decided to compete with Turkey for control over northern Iraq, reported Turkish daily Yenişafak.
Turkey has been leading the way almost single-handedly in northern Iraq through deals and investments, but now it has found an unlikely competitor in Egypt, whose military leader Sisi is trying to make up for economic losses during Egypt's turbulent year.
Recent revelations show that Sisi sent 110 Egyptian businessmen and 75 companies to northern Iraq, in addition to doubling the number of consulate staff there. In Erbil, the capital city of the autonomous Kurdish region, 75 Egyptian businesses held an "Egyptian Fare".
According to the report presented by the Egyptian minister of trade, Egypt is most likely able to compete in the furniture and groceries sector. Egypt has also promised to ease restrictions on visas for businessmen who want to travel from northern Iraq to Egypt.
As well as furniture and groceries, Egypt is also looking to compete in the market for automotive spare parts.
Egypt is targeting $2 billion profit from the first two years. The report was advertised all over Iraqi TV, encouraging people to invest in Egypt.Last Mod: 07 Ekim 2013, 17:40