Iran private sector calls for special Iran, Iraq desks to boost trade

The proposal comes as a large number of Iranian businessmen and women have traveled to Iraq in a bid to explore business and investment opportunities in the western neighbour. The two countries are eyeing $20bn trade volume per year.

12 March 2019
ID : 11878
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Iran Chamber of Commerce has proposed that especial Iran and Iraq desks be created at both countries’ chambers of commerce.

Gholam Hossein Shafei, President of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has told Abdel Razzak El-Zouhairy, President of the Federation of Iraqi Chambers of Commerce that both of these entities establish special desks for coordinating bilateral trade ties.

He made the remark in talks with his Iraqi counterpart on Monday evening in Baghdad after a joint business forum in which presidents of several local Iranian chambers of commerce took part. Shafei is heading a large business delegation of more than two dozen businessmen and women that have accompanied Iranian President Hassan Rouhani in his state visit to the western neighbour.

Gholam Hossein Shafei, President of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), (middle left) poses after talks with his Iraqi counterpart in Baghdad (Photo: Iran Chamber Newsroom) 

The two also discussed setting up a database of high-quality products and exporters in a bid to stop the flow of low-quality items.

The Iranian private sector business delegation in accompanying Rouhani in his three-day state visa to cement trade and political ties. Current mutual trade volume stands at 12 billion dollars that authorities from both countries want to increase to USD 20bn. Before leaving for Iraq, Shafei had told Iran Chamber Newsroom that should Tehran and Baghdad want to hit the $20bn target, they need a Free Trade Agreement (FTA). 

Watch video: ICCIMA calls for FTA with Iraq to upgrade trade volume to $20bn

During a meeting with his Iraqi counterpart, Barham Salih, the Iranian president stressed that both countrie use their national currencies in commercial ties in a bid to skirt restored US sanctions on Iran. Tehran and Baghdad have already agreed on euro and dinar accounts so the Iraqi government can pay out its debts for importing Iranian gas and power.  

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