Iran, Iraq agree to new payment mechanism for arrears: Shamkhani

The secretary of Iran’s Supreme National Security Council Ali Shamkhani says Iran and Iraq have come up with a new mechanism for Baghdad to pay its debts to Tehran.

Shamkhani said at the end of his visit to Iraq that the agreement coupled with the one with the United Arab Emirates to facilitate bilateral trade, will improve the foreign currency market inside Iran.

Shamkhani said he and the economic, banking, political and security officials, who accompanied him, worked out common and effective solutions with Iraq to remove existing obstacles to mutual cooperation.

He said one such solution was using the Iranian money to buy basic goods and help address the problems of Iranian businessmen in Iraq.

Shamkhani stressed that Iran and Iraq also signed a security cooperation agreement, which he described as “very significant.”

Under the agreement, the top security official said, the two countries will work to eliminate the grounds for malicious activities by anti-Iran groups that operated against Iran’s security from the Kurdistan region in northern Iraq.

By Iran Front Page