Joint investment required to prompt trade between Iran, Iraq: official

TEHRAN, Dec. 21 (MNA) – Chairman of Iran-Iraq Joint Chamber of Commerce Yahya Al-e Es’hagh said that join investment is needed for promoting and enhancing trade between Iran and Iraq.

There is no worry about the situation of trade between Islamic Republic of Iran and Iraq, he stressed.

Joint investment between the two countries should be taken into consideration for the development and promotion of bilateral trade ties.

He made the remarks on Sat. in an interview with FNA and pointed to the future of trade ties between Iran and Iraq due to the recent unrest overshadowed Iraq and added, “there is no doubt that the more  this bilateral ties are strengthened, the more will it be for the benefit of the two countries.”

Statistics show that Iran enjoys high capacity for exporting $20 billion worth of products to neighboring Iraq, he emphasized.

Elsewhere in his remarks, Al-e Es’hagh put the products exported from Iran to Iraq in the past year (ended Mar. 20, 2019) at $13 billion, so that targeting for export of $20 billion worth of non-oil products to Iraq is achievable.

Presently, Iran-Iraq ties is an unconventional trade relation, he said, adding, “although $13 billion worth of products is exported to Iran, export volume of products from Iraq to Iran is negligible.”

Iraq enjoys good capacities for joint investment in the field of power plant, refinery and food industries, Chairman of Iran-Iraq Joint Chamber of Commerce Yahya Al-e Es’hagh added.

MNA/FNA13980930000235

News Code 153557

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