Iran, Iraq Emphasize Increasing Trade

Iran and Iraq stressed the need to raise the level of bilateral trade exchanges to US$20 billion in the future during a meeting in Baghdad. The meeting was held between Iran’s Ambassador to Iraq Iraj Masjedi and Iraqi Minister of Trade Alaa Ahmed Hassan Obaid, IRNA reported. The two sides also discussed Iran’s exports of gas and electricity to Iraq and underlined the importance of following up the agreements previously signed between the two countries. They also stressed making joint investments in developing border areas, facilitating trade exchanges and holding business exhibitions.

Earlier, Hossein Amir-Abdollahian, a special advisor to Iran’s Parliament speaker, said the present value of annual trade between Tehran and Baghdad stands at US$14 billion. Iran and Iraq had originally discussed increasing trade exchanges to US$20 billion during a visit to Tehran by Iraqi Prime Minister Mustafa al-Kadhimi in July. - Iran Daily