Economy, Domestic Economy

Credit Line for Export Promotion

Credit Line for Export PromotionCredit Line for Export Promotion

The Export Development Bank has allocated $300 million to boost Iran’s exports to Iraq, Head of Iran-Iraq joint chamber of commerce, Jahanbakhsh Sanjabi Shirazi, said in a seminar dubbed ‘exploring opportunities and challenges ahead of trade with Iraq’, MNA reported on Wednesday.

Figures show that Iraq’s total imports have declined 40 percent this year. Meanwhile, in the first six months of the current Iranian year (March 21-Septmebr 22), Iran has exported $5.5 billion of technical and engineering services and other commodities to Iraq, Sanjabi added.

Sanjabi predicted that by the end of the current year (March 21, 2015) Iran’s total exports to Iraq will amount to $11 billion.