Iraq has had the strongest presence in the Third Exports Capabilities Exhibition of Iran, also known as "Iran Expo 2018", with 64 traders and businesspeople attending the event, Iran’s commercial attaché to Iraq said.
Nasser Behzad also told IRNA that the participating Iraqi traders and businesspeople were active in the fields of electricity and energy, petrochemicals, mining, building construction, technical and engineering services, medical and hospital equipment, cellulose and hygienic products, handicrafts, home appliances, furniture and office decorations, carpet, leather, apparel, agriculture, foodstuff and industrial machinery parts.
Iran Expo opened at Tehran’s Shahr-e-Aftab International Fairground on Dec. 13 and concludes on Dec. 16.
According to Majid Takbiri, the event's organizer, more than 600 traders and business owners from 57 countries took part in this year’s exhibition.
Reciprocal Robust Presence of Iran in Baghdad Fair
The Tehran expo was held after the Iraqi capital hosted the 45th Baghdad International Fair 2018 last month, in which some 60 companies from Iran showcased their latest products and services. In fact, Iran had the strongest presence among 17 countries exhibiting in the event.
According to the commercial attaché, the main feature of this year's exhibition was the effective participation of Iranian companies in the Iraqi market.
"Iranian goods and supply conditions were reviewed in specialized meetings at the event," Behzad added.
The Iranian exhibitors in Baghdad fair were active in the production of food, construction materials, toiletries, carpet, saffron, steel, auto parts, pipes and profile, plastic, agricultural and processed products, as well as the supply of technical and engineering services.
Apart from Iraq and Iran, companies also participated from Syria, Pakistan, Japan, Jordan, France, Germany, Indonesia, Italy, Palestine, South Korea, Taiwan, Hungary, Ukraine, Spain, India and Tunisia.
The Iranian exhibitors negotiated with the Iraqis contracts worth €380 million for the sale of Iranian goods in the neighboring country's market.
Iran's Biggest Export Market
Data released by the Islamic Republic of Iran Customs Administration show Iraq overtook China as the main non-oil export market for Iran during seven months of the current Iranian year (March 21-Oct. 22).
Iran’s exports to Iraq surged by 55% in value to reach $5.73 billion to account for 21% of the total value of Iran’s exports during the period.
Iran mainly exports liquefied gas, hydrocarbons, mineral products, fresh or frozen tomatoes and evaporative coolers to Iraq.
Secretary-General of Iran-Iraq Chamber of Commerce Hamid Hosseini said Iraq is beginning to rebuild the infrastructure destroyed by terrorists, hence a number of its cities, especially Mosul and Kirkuk, can be a suitable market for Iranian construction materials and foodstuff.
"Iraq has six million displaced citizens, four million of whom have returned after Daesh was defeated. Iranian products can be the best option to provide for these people, however our share in the markets of Mosul and Kirkuk is relatively low at present and we need to increase it," Hosseini said.
Daesh is the Arabic acronym for the self-styled Islamic State terrorist group.
Latest IRICA statistics show Iraq remained Iran's top export destination in the eight months ending Nov. 21. Iran’s exports to the neighboring country surged by 66.59% to reach $6.75 billion to account for 21% of the total value of Iran’s exports during the period.
Bilateral Trade Target at $20b
Iraqi President Barham Salih met his Iranian counterpart Hassan Rouhani during the visit to Tehran last week and Rouhani said he wants to raise the bilateral trade level from the current $12 billion to $20 billion in the coming year.
President of Iran-Iraq Chamber of Commerce Yahya Al-e Es'haq said the $20 billion target for bilateral trade "is achievable based on the type of investments required to rebuild Iraq and the country's economic conditions".
The Iraqi government is working toward maintaining ties with Iran, its top trade partner, in the face of United States’ sanctions on Tehran, which are aimed at minimizing its international economic relations.
During a visit to Kuwait last month, Salih said keeping “good and stable” relations with Iran is in his country’s best interest.
“Iran is a neighboring country and our interest lies in having good and stable relations with Iran,” he was quoted as saying by Reuters.
Iraq’s economy is closely linked to Iran, according to the country’s central bank officials.
Salih urged the US to consider Baghdad’s political and economic position, as the two sides negotiate relief for Iraq from the sanctions.
“We do not want Iraq to be burdened with the US sanctions on Iran,” he said, adding that Iraq wanted to maintain “balanced” relations with all its neighbors and the international community.
