TEHRAN, Oct. 15 (MNA) – Head of Iran and Iraq joint chamber of commerce has said Iran’s Exports Development Bank has allocated $300 million to boost Iran’s exports to Iraq.

Jahanbakhsh Sanjabi Shirazi, who was speaking to a meeting to ‘Explore the Opportunities and Challenges Ahead of Trade with Iraq,’ told the reporters that in Iraqi economic terrain some changes had been wrought; “Jordan has abandoned Iraqi market, and Saudi Arabia is in an ebb in its trade with Iraq; further yet, Turkey has severely reduced its exports to the country,” he cited as factors contributing to increasing presence by Iran in the lacuna created.


“Figures reveal also that Iraqi imports from different countries has declined 40 per cent; meanwhile, in the first six months of the year, Iran has exports worth of $5.5bn in engineering and technical services, transit of goods and energy,” he added.


Sanjabi predicted that by the end of the current year (ending March 21, 2015) Iran’s total export will amount to a lump sum of $11bn. “There is 11-18 per cent decline in Iran’s realized non-oil exports to the western neighbor, which however is justified by the fact that exports to Iraq has declined worldwide,” he asserted.


The head of Iran-Iraq joint chamber of commerce held that all Iran’s exports to Iraq were quality-tested by the National Standard Organization. “We show considerable effort to prevent export of low-quality goods so that we secure Iraqi market for ourselves,” Sanjabi said.


By Mehr News Agency





The Iran Project is not responsible for the content of quoted articles.