Trade With Iraq Rising
Economy, Domestic Economy

Trade With Iraq Rising

The volume of trade between Iran and Iraq has exceeded $12 billion and the figure is expected to hit $25 billion, said Hassan Danaeifar, Iran’s ambassador to Iraq.
The envoy made the remarks during the inauguration ceremony of Sumar border market in the western province of Kermanshah. “Iran has diverse economic ties with its neighbor Iraq and Kermanshah Province has a central role in such ties”, said the ambassador, adding that Sumar is the ninth border market on the Iranian side of the border.
Danaeifar further said that Sumar was shut for 49 years, emphasizing that the revival of the border market can revolutionize the local economy in Sumar-Mandali region.
The border market, in which more than 100 billion rials has been invested, was officially inaugurated on Sunday during a ceremony attended by the governors of Kermanshah and the Iraqi province of Dialeh. As its first commercial activity, the 40-hectare border market aims to export 200 tons of cement to Iraq. The provincial officials say if developed, the border market will be capable of dispatching 1,000 trucks into Iraq.
Currently, Parvizkhan border market near the city of Qasr-e Shirin is the major export channel through which 52% of the Iranian goods are exported to Iraq.
Earlier, Yahya Al-Es’haq, the head of Tehran’s chamber of commerce, said Iran-Iraq trade could take off once the current banking issues are resolved.

Short URL : http://goo.gl/wrMejr

You can also read ...

NASA Seeks Help to Check Satellites
NASA is asking all cloud gazers to snap photos of the sky and...
Alcatel’s Android Go Cellphone in the Offing
Two of the phones Alcatel revealed last month will be coming...
Iran has signed a contract with China Railway Group Limited in 2015 to build a 415-km (260-mile) high-speed north-south rail line between Tehran and Isfahan via Qom.
The Economy Ministry sold 2 trillion rials ($41.6 million) of...
Banque Delubac Ready to Service Iranian Businesses
Executives with Banque Delubac and Cie, an independent French...
Trade With Afghanistan Tops $2b
Iran and Afghanistan exchanged 5.32 million tons of non-oil...
IKCO Sells Majority Stake in Subsidiary
Iran Khodro has sold a 50.2% stake worth 720 billion rials ($...
Golestan’s Exports Earn Over $180m
About 240,000 tons of commodities worth $184 million have been...
Checks Valued at $15 Billion Exchanged in 1 Month
The Central Bank of Iran has disclosed the latest statistics...