Emphasizing that 22 percent of Iran’s total exports belongs to neighboring Iraq, Hassan Danaeifar stressed the need to safeguard and develop this strategic market.
Turning to the key position of Iraq in Iran’s foreign trade, he added that Iraq has always been one of Iran’s main trading partners for the past 15 years and about 22 percent of the country’s exports currently belongs to this neighboring country.
Danaeifar further stated that Iran accounts for 14 percent of Iraq’s import of products, showing a strategic depth and significance of trad relations between the two countries.
The Iraqi market offers significant potential for the expansion of Iranian exports, he said, adding that advantages such as short geographical distance, reasonable transportation costs, market proximity, and the alignment of the quality and price of Iranian goods with needs of Iraqi consumers have paved the suitable way for a sustained presence of Iranian products in this Arab country.
He emphasized that a significant portion of Iran’s exports to this country consists of finished products, a key advantage of trading with Iraq, as Iranian goods, with their moderate quality and price, are well-suited to the needs of the Iraqi market.
Regarding the development of economic relations between Iran and Iraq, it was noted that these ties are not limited solely to the commercial exchanges, rather, continuous visits and interactions between officials from both nations demonstrate the existence of a deep-rooted and meaningful relationship, Danaeifar underlined.
Referring to the capacity of the country's provinces to develop exchanges with Iraq, he said that all the provinces of Iran have trade relations with the Iraqi market, and this country is important for a large part of Iranian producers and exporters, he underscored.
Therefore, it is necessary to use the provincial capacities in a purposeful way in the development of trade with Iraq, Danaeifar added.
MNA/7006879
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