About 17-20% of Iran’s total exports head for Iraq, according to Iran’s commercial attaché in the neighboring country. “Iran’s exports to Iraq are three times as much as its exports to Europe, Africa, the Americas and Oceania combined,” Ebrahim Rezazadeh was also quoted as saying by ISNA. He noted that 90% of Iraq’s demand for goods are imported due to high production costs and expensive energy. “Iraqis welcome Iranian products and there is a fertile ground for the presence of Iranian merchants and businesspeople in Iraq. To encourage trade between the two sides, we plan to build commercial centers and open branches of Trade Promotion Organization of Iran’s representative offices in several Iraqi cities,” he said.
