Iran: Trade relations with Iraq could reach $40 bn annually
Shafaq News / The Iranian Trade Development Organization expressed its readiness on Tuesday for its government to collaborate with Iraq and contribute to its industrial development until 2035. It indicated the potential to increase the annual trade volume between the two countries to around $40 billion.
During a speech at the joint trade conference between Iran and Iraq, the organization's president, Mehdi Dheghami, stated that Iran is prepared to assist Iraq by providing technology and developing industrial projects within Iraq.
He further added, "On behalf of the Ministry of Industry and Trade and the Iranian government, we declare our comprehensive support for Iraq's industrial development until 2035." He noted that the volume of trade relations between Iran and Iraq is steadily increasing and can reach up to $30 to $40 billion annually.
Dheghami continued, "The joint trade committee between the two countries is studying the development plans, infrastructure development, and ways to enhance trade between Iran and Iraq, as well as achieving trade balance."
He pointed out that "the committee has also examined the removal of trade and regulatory restrictions between the two countries, as well as logistical and trade issues, to increase the current trade volume to $20 billion annually."
