President of Trade Promotion Organization of Iran (TPO) Mojtaba Khosrowtaj, who is staying in the Iraqi capital on top of a trade and industrial delegation, emphasized that representatives of Iran in the neighboring country have had a laudable performance in the past three years.
He said Iran-Iraq relations were unparalleled and while pointed to the remarks by Iran’s ambassador on transition from goods exports to joint investment expressed hope that a new window will be opened in bilateral ties once Iraq’s monetary restrictions are lifted.
The official recalled that the annual trade turnover between the two countries stood at 6 to 6.5 billion dollars highlighting that the figure had risen by five percent in the first nine months of the present year as compared with the corresponding period in the previous year.
“If technical and engineering services are included in calculations, the average worth of trade turnover between Iran and Iraq would exceed 8 billion dollars,” he added.
Khosrowtaj stressed that Tehran-Baghdad improving ties in recent years gain more significance in view of the fact that, in the meantime, Iraq has been fighting ISIL and has faced financial crisis and a plunge in imports.
He reiterated that during his meetings with a number of Iraqi official venues for development of relations between the two neighboring states were discussed.
Deputy Iranian Industry minister, while referring to Iraq’s new approach towards industrial development, added “the Iraqi sides voiced eagerness for cooperation in various fields including silo construction, renovation and supply of machinery and equipment as well as household appliances and construction materials.”
“The meetings also stressed the need to activate preferential tariff between the two sides and a joint committee will be formed to probe into the issue as well as to investigate investment opportunities.”
He noted that the committee will also seek to resolve issues faced by Iran’s investment companies in Iraq.
TPO head further maintained that the Iranian delegation held separate meetings with both governmental and private sectors of Iraq and dealt with existing barriers and obstacles.
“One major issue pertains to banking ties and representatives of Central Bank of Iran (CBI) offered procedures for exploiting banking potentials in line with opening Lines of Credits (LOCs).
HA/IRN82371988
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