Iran-iraq trade stands at $6b in seven months
Commercial Attaché of Iran in Iraq Nasser Behzad announced that non-oil trade transactions between the two countries was rising, adding that Tehran and Baghdad have traded $6 billion worth of non-oil goods in the first seven months of current Iranian calendar year (March 21-October 22).
He put the non-oil trade volume between Iran and Iraq in the last Iranian year (ended March 20) at $10 billion, reported Fars News Agency.
Iran is ready to facilitate admission of Iraq’s export goods for balancing trade and business, the official stressed.
A major part of Iran’s export of products to Iraq is managed according to the market demand, he said, adding that Iranian products are highly welcomed by Iraqi citizens.
According to the scheduled plan, $20 billion worth of trade has been predicted for the two countries in order to promote economy between the two countries, the commercial envoy added.
Industrial equipment and machinery, medicine, medical equipment, water-supply parts, food products, ironware and steel products are some of the major products imported by Iraq from across the world, Iran’s commercial attaché to Iraq added.
Last month, Iranian Industry Minister Reza Rahmani said that his country and Iraq have the potential to increase the volume of their bilateral trade to $20 billion by 2021, adding that Tehran and Baghdad are determined to meet the objective.
Speaking to reporters, the Iranian industry minister said that the volume of trade between the two countries stood at $12 billion last year, adding that the volume will rise to $20 billion by the year 2021.
Rahmani said that developing relations with neighboring countries is a priority for his ministry, exchange of trade delegations, holding exhibitions in both countries and establishment of an Iranian permanent exhibition in Iraq, are on the agenda of the ministry to increase the volume of trade between the two countries.
He further referred to the increase in the number of border crossings, describing the launch of Shalamcheh-basreh railway as a good opportunity to develop Iran-iraq bilateral trade relations.
The minister further noted that there were good steps being taken in customs relations to promote the level of relations.