Iran, Iraq discuss $20b trade

IRNA – Iran’s commercial attaché in Baghdad Naser Behzad and Iraq’s Director General of Foreign Economic Relations at the Ministry of Commerce Adel Khudair al-Masoudi on Monday studied ways to augment Iran-Iraq trade to $20 billion.

‘After the agreement between Iran’s minister of Industry, Mine and Trade with the Iraqi side and drawing up the executive programs to expand commercial ties and economic cooperation, this is the first meeting to pave the way for different stages of cooperation in order to reach the $20 billion trade,’ said Behzad.

Facilitating Iranian export to Iraq, exchanging exhibition space, special attention to transit of goods, doing win-win investments, and setting a timetable to implement Shalamcheh-Basra railroad are among the issues discussed and are to be finalized in a joint committee, Behzad added.

Al-Masoudi said that Iraq is ready for any cooperation in the interest of both countries, and using the existing capacities for enhancing trade with Iran.

The joint committee of trade of Iran and Iraq, led by the Trade Promotion Organization of Iran and its Iraqi counterpart, will soon start work.

Iran-Iraq non-oil trade stood at 10 billion dollars a year.