Yahya Al-e Es’haq made the remarks in a meeting attended by the Iranian Commercial Attaché in Iraq and representatives of the Ministry of Foreign Affairs on Monday.
According to Al-e Es’haq, the opportunity for trade relations between the two countries has been strategic and essential, and its benefits will serve the people of both countries.
He considered benefiting from business opportunities in Iraq as pursuing the national interests of Iran.
"It is possible to reach a $20 billion trade between Iran and Iraq within the next few years," he pointed out.
"Next year, our private sector can certainly increase trade relations with Iraq to $11 billion without exporting gas, electricity, and technical and engineering services," he added.
Elsewhere in his remarks, the Iranian official said that Iraq's debts to Iran are mainly related to the government entities, especially in the field of gas and electricity.
"Iraq owes Iran around $10 billion, which fluctuates over time," he continued.
He added that as the Iraqi minister has announced that all the $10 billion have been deposited to TBI Bank.
"It has been agreed to use this money for non-sanctioned items such as medicine, etc", he concluded.
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