Iraqi Ambassador to Iran Nasser Abdul Mohsen Abdullah says in order to be able to keep the Iraqi market, Iran has to increase its joint investments with neighboring Iraq.
The ambassador made the remarks in a meeting in Tehran with the board members of Iran’s Hamedan Chamber of Commerce.
Referring to the will on both governments to give a rise to bilateral trade from the existing $12 billion to $20 billion, he said that the private sectors of the two countries can play an active role in this regard.
He called on Iran to have a close eye on the Iraqi market if it intends to maintain its foothold in the market as he said there are rivals for Iran, including Turkey, Egypt and Saudi Arabia.
Noting that more than 90% of the businesspeople who have invested in Iraq have been satisfied with their investments, he said that the short distance between Iraq and Iran’s Hamedan Province can be used to give a boost to trade cooperation.
Head of Hamedan Chamber of Commerce Rahim Mortezaei, for his part, said that Iraq is regarded as the main trade partner of the province.
He said that Hamedan is capable of supplying Iraq with more than 134 items required by the country.
Mortezaei voiced the readiness of Hamedan Chamber of Commerce to initiate new cooperation with Iraq’s Baghdad and Basra chambers of commerce.