Iran exported more than $3.5 billion worth of non-oil products to neighboring Iraq in the five calendar months to August 22, meaning that the Arab country has received 18.3% of Iran’s total exports in this period.
Iran and Iraq have targeted $20 billion in bilateral trade, Chairman of Iran-Iraq Joint Chamber of Commerce Yahya Al-e Eshaq said, according to Tasnim news agency.
Iraq will become the main country in the region in the field of investment within the next 10 years, Al-e Es’hagh said, calling on Iranian investors to make investments in the lucrative and profitable Iraqi market.
He noted that the United Arab Emirates, China and Iran are Iraq’s major trade partners.
A senior official in Iran’s Trade Promotion Organization (TPO) said in April that Iran’s exports to Iraq hit a new record in the calendar year to late March.
TPO’s head of West Asia department Farzad Piltan noted that the Iranian exports to Iraq had surpassed $10 billion in the year to March 20.
“That is considered a new and unprecedented record in the exports of the Islamic Republic of Iran to this country,” he said.