Central Bank of Iran (CBI) says reaching a 20-billion-dollar trade volume with Iraq is not a far-fetched objective as the two nations eye increasing their annual trade exchanges.
“The target of 20-billion-dollar trade between Iran and Iraq is not very far-fetched. Developing financial and monetary ties between the two countries will play a good role in reaching this goal,” said CBI Governor Abdolnasser Hemmati in his Instagram on Monday.
Hemmati made the remark after meeting Iraqi Finance Minister Fuad Hussein, who was part of a high-level Iraqi political and business delegation, in Tehran on Monday.
Tehran and Baghdad are eager to hit the trade volume of $20bn by 2020.
A high-level Iraqi delegation, headed by Prime Minister Adel Abdul Mahdi is in Iran to negotiate further development of ties between the two neighbors.
Iraq was Iran’s second export destination worldwide, after China, during the 12-month period.