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Iran, Iraq aim to boost trade to $20b a year

Head of Iran-Iraq joint chamber of commerce says the two countries will review ways to enhance level of trade to 20 billion dollars a year in the course of visit to Tehran of Iraqi Prime Minister Mustafa al-Kadhimi.

Al-Kadhimi’s Tehran visit will be effective in development and strengthening economic cooperation, Yahya Al-e Eshaq told IRNA on Tuesday.

Economic issues form the centerpiece of bilateral talks, the official noted.

He further said that implementing mutual agreements, removal of obstacles in the way of economic cooperation and payment of three billion dollars arrears by Iraqi Government will also be discussed.

Referring to the international lockdown in the aftermath of coronavirus pandemic which has created major problems for global trade since December 2019, the official hoped that the visit of Iraqi prime minister to Iran would lead to accelerate reopening of border customs offices to improve international trade.

Iran’s exports to Iraq stood at nine billion dollars in the past Iranian year which ended on March 21, 2020.

Meanwhile, despite the lockdown, Iran has exported five million tons of commodities worth of 1.45 billion dollars to Iraq over the first three months of the Iranian year.



Source: Islamic Republic News Agency – IRNA

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