Tehran-Baghdad trade to hit $20bn: Iran minister

Iranian Minister of Economic Affairs and Finance Ali Tayyeb-Nia says the volume of trade transactions between Iran and Iraq will reach USD 20 billion over the next three years.

In the signing ceremony of an economic and investment agreement between Iran and Iraq in Tehran on Monday, Tayyeb-Nia said Tehran and Baghdad seek to further increase their bilateral trade and economic cooperation.

The Iranian minister put the value of the 2013 trade exchanges between Iran and Iraq at USD 6 billion.

He said that the value of Tehran-Baghdad transactions, including technical and engineering exports, gas and electricity export and transit hit USD 12 billion in 2013.

Iraqi Deputy Prime Minister for Economic Affairs Rose Nuri Shaways and Deputy Finance Minister Safa al-Din al-Safi were present at the signing ceremony.

The Islamic Republic of Iran sees no limit in its relations with other countries, particularly Iraq, the Iranian minister said in a meeting with Nuri Shaways.

Nuri Shaways, for his part pointed to the friendly and brotherly ties between Iran and Iraq, voicing his country’s resolve to enhance ties with the Islamic Republic.

Heading a high-ranking 23-member economic delegation, Nuri Shaways arrived in Tehran on Sunday.

Earlier in December 2013, Iranian First Vice President Es’haq Jahangiri said Iran, given its great scientific and economic potential, is ready to help rebuild Iraq. He made the remarks in a meeting with Iraqi Prime Minister Nouri al-Maliki in Tehran, where the Iraqi premier welcomed the contribution of Iranian firms to the reconstruction of his country.

By Press TV


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