Iran's Exports to Iraq Could Increase This Year

The Chairman of the Iran-Iraq Chamber of Commerce, Yahya Al-e Eshagh, has predicted that the value of this year's exports to Iraq could reach US$9 billion by yearend. Chairman of Iran-Iraq chamber of commerce, Yahya Al-e Eshagh told Iranian media on Monday that the value of Iran's exports to Iraq has been usually between US$8-US$12 billion in recent years. Ale Es'haq said that during the first seven months since the start of the current Iranian year of 1400 (beginning on March 21), the value of Iran's exports to Iraq was US$5.5 billion.

Meanwhile, the economic official predicted that the value of Iran's exported goods and commodities to neighboring Iraq could land somewhere between US$8 to US$9 billion at the end of this year. He also attributed the 43% growth of the foreign trade in the first 7 months of the Iranian calendar year 1400(Mar 22 - Oct 22) compared to last year, to the improvement of the world’s situation in terms of the Covid-19 pandemic.

The economic expert further said that the normalization of the trade relations and getting the exports back on track requires officials’ intensified efforts and determination. Al-e Eshagh also pointed to recent Iran's membership in the Shanghai Cooperation Organization (SCO), saying that the membership provides Iran with a good opportunity to expand its trade ties with the SCO members. - Mehr