Iran’s Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh signed a memorandum of understanding with Iraqi labor and social affairs minister and caretaker of industry and minerals ministry, Mohammed Shia al-Sudani, in Tehran on Sunday to set up and renovate industrial parks in Iraq.
During the meeting, the two ministers stressed the firm intention of the two neighboring countries to expand economic and banking ties, the Iranian ministry’s official news service Shata reported.
“Iraq wants Iran to build five industrial parks near Iran-Iraq border regions,” Sudani said, adding that five Iranian banks have branches in Iraq while Rasheed Bank, one of the largest banks in Iraq, has requested to open a branch in Iran.
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