Tehran Times – Iran has established a center in Baghdad for marketing its products in the Iraqi market and also expand the exports of its products to the neighboring country, the official website of Iran’s Trade Promotion Organization (TPO) published.
The center has been set up by Iran’s Exhibition Projects Management Company to hold Iranian exhibitions in Iraq in a bid to increase Iran-Iraq bilateral trade, boost Iranian production level, and exchange information and technical knowledge between the two countries.
The Iranian center will be active by the end of next autumn based on Iranian calendar (December 21, 2019).
Relations between Iran and Iraq have increased greatly since the fall of Saddam Hussein in Iraq in 2003. Iran was the first country that recognized the governing system in Iraq after the Saddam fall.
On March 4, the secretary general of Iran-Iraq Joint Chamber of Commerce said Iraq has expressed readiness to establish a joint bank with Iran.
“The Issue was discussed during Iranian Foreign Minister Mohammad Javad Zarif’s talks with the Iraqi side and the Iraqi Rafidain Bank expressed its readiness to establish branches in Iran.” Hamid Hosseini said.
Iran is one of the major trading partners of Iraq. Baghdad has resisted pressure by the Trump administration to cut economic ties with Iran since Washington reintroduced sanctions against Iran last May. Iran and Iraq have agreed to trade in euros.
Also, the number of Iranian exhibitions held in Iraq is on an increasing trend.
The first specialized exhibition of Iranian electricity and related industries kicked off at Baghdad International Exhibition Center on last Tuesday.
Iraqi Electricity Minister Louay Al Khateeb along with Iranian Ambassador to Baghdad Iraj Masjedi accompanied by a handful of officials from both sides attended the opening ceremony.
Speaking in the ceremony, Al Khateeb expressed satisfaction with holding such exhibitions in his country, calling Iranian companies capable trade partners.