Economy, Domestic Economy

Trade Ties With Iraq

Trade Ties With IraqTrade Ties With Iraq

Fifteen percent of Iraq’s foreign trade is with Iran, announced Yahya Al-Es’haq, the head of Iran-Iraq joint chamber of commerce, in the second conference on introducing business opportunities and improving economic relations between Iran and Iraq.

He added that Iran exported about $13 billion worth of goods to Iraq in the past Iranian calendar year (March 21, 2013-March 20, 2014) and efforts are being made to increase this amount to $25 billion in the current year.

The second conference on Iran-Iraq business and economic opportunities kicked off in Tehran’s Shahid Beheshti University on Sunday. The two-day conference is aimed at expanding economic and trade relations between the two countries. Official attendees of the event include: Rostam Qasemi, the secretary of the Iran-Iraq Trade Development Committee; Ja’far Al-Hamdani, the head of Iraqi unions; Yahya Al-Es’haq, the head of Iran-Iraq joint chamber of commerce and Naser Kan’ani, the head of Iraq’s Special Committee, IRIB News reported.

Expressing hope that the current security issues in Iraq would not threaten the bilateral trades, Qasemi referred to the myriad business opportunities in Iraq which should be seized upon by Iranian exporters. “Dairy products, apparel, food, as well as engineering services are some of the areas where Iranian exporters have made good profits in the past,” Qasemi informed.