Iraq is more than a trade partner for Iran and the bonds linking the two countries are so deep that they need to further boost economic relations, President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Gholam Hossein Shafei said on Monday.
Shafei made the remark during a visit to Iraq Federation of Industries.
Iran Chamber chief arrived in Iraq heading a private sector delegation on Sunday.
Noting that four Iranian Members of Parliament, the head of Iran-Iraq Joint Chamber of Commerce and a number of Iranian economic activists are accompanying him in his Iraq visit, Shafei said that the two sides are expected to open a new chapter in economic relations through expert negotiations.
Head of Iraq Federation of Industries Adel Akab al-Hussein, for his part, said that there has not yet been real economic activities between Iran and Iraq.
“There is trade activities but there has not yet been activities which would include the industry sector,” al-Hussein said.
He complained that there is not sufficient resolve on the Iranian side for making investment in Iraq, noting that the relations have been limited to trade activities.
“I have seen factories in Iran which have stopped working. These factories can operate in Iraq.”
He voiced his country’s readiness to provide the raw materials, adding that Baghdad is eager to develop a joint industrial town with Iran.
Al-Hussein also noted that Iraq is looking forward for Iran’s partnership in reconstruction and development of the country.
In the end, the Iran chamber chief said that any cooperation requires the interests of both sides to be guaranteed.
Shafei said that “we invested some $3 billion in Iraq over the past years but then we faced some problems which affected the continuation of investments.”
He said that the hurdles on the way of economic cooperation between the two countries have to be identified and removed.