Announcement - AmCham Egypt and the Iraqi American Chamber of Commerce (IACCI) and Industry - (March 8, 2004)

AmCham Egypt and the Iraqi American Chamber of Commerce (IACCI) and Industry signed a memorandum of understanding (MOU) on March 8, 2004, to enhance the spirit of cooperation and friendship between the two business organizations. AmCham president Taher Helmy and CEO of IACCI Raad Ommar signed the agreement at a ceremony in Cairo.

The two bodies will strive to "encourage, promote and facilitate effective cooperation in areas of trade, economic and industrial activities, and to establish effective means of communications between companies, private businesses and organizations," according to Article 1 of the MOU.

The 12-article MOU also states that the two organizations will collaborate to introduce programs that will facilitate bilateral business opportunities, while also exchange information about the latest developments in their respective countries in economic laws and regulations.

The two chambers will further strive to organize meetings including companies from both countries that will assist in improving bilateral commercial relations. In sum, any measures that will "enhance and strengthen bilateral economic ties" will be undertaken by the parties.

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