Rouhani sees Iran-Iraq trade rising to US$20 bln per year
DUBAI: Iranian President Hassan Rouhani said on Saturday Iran and Iraq could raise annual bilateral trade to US$20 billion from the current level of US$12 billion.
Rouhani’s remarks, in a meeting with visiting Iraqi President Barham Salih, came about two weeks after the United States restored sanctions targeting Iran’s key oil industry as well as its banking and transportation sectors.
“Today, the economic relations between the two countries reach about US$12 billion (per year) and, through bilateral efforts, we can raise this figure to US$20 billion,” Rouhani said in remarks broadcast live on Iran’s state television.
Iraqi officials told Reuters last week that Iraq has agreed with Iran to exchange Iraqi food items for Iranian gas and energy supplies.
Baghdad is seeking US approval to allow it to import Iranian gas for its power stations, and officials say it needs more time to find an
Today, the economic relations between the two countries reach about US$12 billion (per year) and, through bilateral efforts, we can raise this figure to US$20 billion. — Hassan Rouhani, Iranian President
alternative source than a 45-day waiver granted to it by the United States.
Iraq imports a wide range of goods from Iran including food, agricultural products, home appliances, air conditioners and spare car parts. The goods element of Iranian imports to Iraq was about US$6 billion for the 12 months ending March 2018, about 15 percent of Iraq’s total imports for 2017. There are also energy contracts between the two countries contributing to a volume of trade of US$12 billion last year. — Reuters