15 February 2015 - 11:34
Iran, Iraq raise trade by $5.11b

TEHRAN, Feb. 15 (MNA) – The head of the Trade Promotion Organization announced on Saturday that Iran-Iraq trade currently amounts to $5.11b per annum.

The head of the Trade Promotion Organization Valiollah Afkhami-Rad said that despite the common belief over the existing obstacles towards trade with Iraq, the significant presence of some countries including Turkey in Iraqi market proves the opposite, indicating that the overall situation in Iraq is not that critical, IRNA reported.

Afkhami-Rad noted that Iran is scheduled to hold three exhibitions in Iraq, Qatar and Afghanistan in the current week which are expected to play an important role in expansion of Iran’s trade ties with neighboring countries.

Pointing out that Iran’s current amount of annual trade transactions with Kabul is set at $2.37b, Afkhami-Rad said based on an order issued by the Minister of Industry, 50% of the costs for Iranian companies to participate in foreign exhibitions will be covered by international exhibition corporations.

Noting that Iran’s non-oil exports including gas condensates, reached $42.6 billion during March 21, 2014-January 20, 2015, Afkhami-Rad said this indicates a 24.2-percent growth compared with the same period during the previous year which was $34.29b.

“During this period, Iran imported $43.7b worth of products, showing a 15.4-percent increase year-on-year,” Afkhami-Rad said, adding that the figure for the same duration in the previous year amounted to $37.86b.


News Code 105960

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