Domestic Economy

Iran, Iraq Vying for $20b Annual Trade Target

Iran exported $8.3 billion worth of non-oil commodities to Iraq during the first 11 months of the Iranian year (March 21-Feb. 19) to register a rise of 54% and 45% in tonnage and value respectively year-on-year
Iran, Iraq Vying for $20b Annual Trade Target
Iran, Iraq Vying for $20b Annual Trade Target

Iran and Iraq plan to increase bilateral trade to $20 billion per annum within two years, says Iran’s Minister of Industries, Mining and Trade Reza Rahmani.
He made the statement after meeting his Iraqi counterpart Mohamed Hashim Al Ani in Tehran on Wednesday.
The Iraqi official, who was accompanied by a delegation, was in Iran to discuss trade issues as well as President Hassan Rouhani’s upcoming visit to Iraq.
Several agreements will be signed between the two sides during the presidential visit, which is reportedly scheduled for March 11.
Iraqi Deputy Foreign Minister Nazar Khairallah described the upcoming visit as “a turning point” in the two countries’ relations after the formation of the new Iraqi government.


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