Iraq underlines expansion of swaps trading with Iran

TEHRAN, Jan. 13 (MNA) – Iraqi Minister of Trade Alaa Ahmed al-Jubouri underscored expansion of mutual trade with Iran, in particular, swaps trading.

He made the remarks in a meeting with his Iranian counterpart on Wednesday.

"The trade balance between the two countries is high, which is a favorable ground for securing the interests of both countries," he said noting that Iraq is the second-largest trading partner of Iran after China.

Highlighting the coronavirus outbreak, the Iraqi minister said regional cooperation is needed to promote trade, and future trade relations are planned.

Referring to Iran's cross-border cultivation potential in Iraq, he said: "The ministries of agriculture of the two countries, along with the Ministry of Industry, should pursue the issue via mutual Economic Council." 

Iraqi Minister al-Jubouri arrived in Tehran on Monday at the head of a delegation to attend the meeting.

On Tuesday, he met with Iran’s First Vice-President Eshaq Jahangiri, where he noted that the trip was conducted to revive the Joint Economic Commission of the two countries to determine specific frameworks for the activities of all economic sectors.

Referring to the importance of his trip to Tehran, Al-Jubouri said that the Iraqi private sector has also been present alongside the public sector to take further steps to develop relations between the two countries.

The 4th Iran-Iraq Joint Economic Commission meeting began in the Iranian capital on Tuesday.

The two-day commission meeting is participated by high-ranking officials from both sides and a number of economic activists.

HJ/IRN84184089

News Code 168480

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