Iran Eyes $20 Billion Annual Trade With Iraq

Published January 16th, 2020 - 10:17 GMT
Iran Eyes $20 Billion Annual Trade With Iraq
Iranian officials have planned a comprehensive program for increasing economic ties with neighboring Iraq, targeting $20 billion annually, the important portion of this rate is related to Iraq’s KRG, he stressed. (Shutterstock)
Iranian Ambassador to Baghdad, Iraj Masjedi, said that trade and business ties of the Islamic Republic of Iran with Iraq are ‘extensive’.
He made the remarks late on Tue. in the inaugural ceremony of industrial and economic capabilities’ exhibition of the Islamic Republic of Iran in Sulaymaniyah of Iraq and said, “more than 150 Iranian companies have showcased their latest products and achievements in this exhibition.”

He further noted that the economic relations of the Islamic Republic of Iran with Iraq’s Kurdistan Regional Government (KRG) were ‘excellent and extensive’.

The significant participation of officials, various economic and commercial sectors and mass participation of people of Iraqi’s Kurdistan Regional Government (KRG) in the exhibition indicate the remarkable economic ties and high welcome of Iraqi people from the industrial and production capabilities of Iran, Masjedi highlighted.

Iranian officials have planned a comprehensive program for increasing economic ties with neighboring Iraq, targeting $20 billion annually, the important portion of this rate is related to Iraq’s KRG, he stressed.

The country of Iraq, especially KRG, is a suitable market for supplying Iranian products, he said, adding, for this purpose, Iranian traders and producers should take advantage of this capacity for boosting the economy and gaining more revenues.

Iranian Ambassador to Iraq Iraj Masjedi called on Iranian producers and exporters to make their utmost effort in the field of transferring technical knowhow and technology to Iraq’s KRG.


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