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General

Economic competition in Iraq more serious this year: Envoy

Baghdad, Iranian Ambassador to Iraq Iraj Masjedi expressed pleasure with Iran's economic achievements in Iraq last year, saying that economic competition will be more serious in the country this year

In a session on determining Iran's economic strategies on the Iraqi market, he added that despite the fact that the two countries' relations were at a desirable level in 2017, Iran will face a fierce competition from its regional and foreign rivals on the Iraqi market in the current year.

Predicting an economic growth for Iraq in 2018, he added that a surge in Iraqi oil sales, various measures taken there to earn foreign exchange revenues and financial markets' inclination to reinforce national currency have created suitable conditions for developmental activities in Iraq.

Implementation of investment schemes, especially in the areas of energy, pharmaceuticals, foodstuff, construction materials and rendering relevant services will pave the ground for the entrance of Iranian companies to the country, he said.

Iran's commercial attache, Nasser Behzad, also told the session that Iran's exports to Iraq had an upward trend in 2017.

Currently, Iraq is considered one of the most significant economic and trade partners in the region and world.

Source: Islamic Republic News Agency IRNA


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