19092
Vast Trade Opportunities With Iraq
Economy, Domestic Economy

Vast Trade Opportunities With Iraq

Even though trade between Iran and Iraq is booming, the two countries are yet to take full advantage of their vast trade opportunities, said Farzad Piltan, director general of Arab and African States Department of Trade Promotion Organization of Iran.
“The Islamic Republic of Iran considers Iraq its most important trading partner and both sides are eager to accelerate the process of commerce,” he said on the sidelines of the Conference on  Trade With Iraq, Azerbaijan and Turkmenistan on Sunday, IRNA reported.
Annual trade between Iran and Iraq currently stands at $12 billion a year with trade balance heavily in favor of Iran. The two neighbors hope to increase their annual trade to $25 billion in the coming years.
During the joint economic commission held in Baghdad in January 2015, 12 agreements were signed in the areas of mining, health and exchange of trade delegations.
“Trade with Iraq has a number of advantages, including ease of access, common cultural-religious background and similar taste in daily products,” Piltan noted.
Banking troubles, standards compliance, transportation and border and customs-related issues are among the challenges of trade between the neighboring countries, as cited by the TPO official.

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

You can also read ...

Iran Economic News Headlines for Today - October 15
1. Mohammad Baqer Nobakht, the head of Plan and Budget...
Iran, India Aim to Accelerate Chabahar Project Before US Curbs
India and Iran have renewed efforts to operationalize one...
Ban on Iran Imports From Farah Checkpoint to Be Lifted
Afghanistan Customs Department has agreed to lift the ban on...
Iran Mineral Trade Surplus Rises to $3.5 Billion
Iran's trade surplus of mineral products increased notably to...
Tehran Stocks Regain Composure on Big Firms Earnings
After losing more than 6,000 points in the past two days,...
Iran Plans Barter Trade With Africa - Interview
As a bid to ease trade with African countries, the Iran...
Iran, Japan to Train Afghan Customs Staff
The Islamic Republic of Iran Customs Administration has signed...
Cars to Cost More in Iran
Automakers will soon receive the okay from relevant...

Trending

Googleplus