MNA – Chief of Staff of Iranian President Mahmoud Vaezi said that five joint industrial townships will be constructed between Islamic Republic of Iran and Iraq.

Under a Memorandum of Understanding (MoU) signed between Iran and Iraq, five industrial townships will be constructed between these two countries as a joint venture, one which will be established in Kordestan province, according to Vaezi.

He made the remark in an investment and development meeting of Kordestan province on Saturday.

Elsewhere in his remarks, Vaezi referred to the geopolitics situation of Kordestan province and its shared borders with Iraq, saying the issue has caused both public and private sectors of the country to adopt a national attitude towards the development and prosperity of this province.

The Islamic Republic of Iran is Iraq’s first trade partner, he said, adding, “Iraq and Kurdistan Regional Government (KRG) provide the best opportunity for Iran for increasing the volume of exports and bypassing the US sanctions.”