Iran’s Minister of Oil Mohsen Paknejad announced plans to travel to Iraq in the coming days, stating his country has established “strong relations and cooperation with Iraq across various sectors, particularly in the oil industry and joint oil project implementation.”
Naseer Abdul Mohsen, Iraq’s ambassador to Iran, visited Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) where he met ICCIMA President Samad Hassanzadeh on April 8, 2025.
The Iranian and Iraqi governments are exploring the establishment of joint industrial zones along their shared border to deepen bilateral economic ties and boost trade volumes.
Iran’s Foreign Minister, Abbas Araqchi, has reaffirmed Tehran’s commitment to supplying electricity to Iraq, despite the United States revoking a sanctions waiver that had allowed Baghdad to import Iranian electricity.
Two Iranian local chambers of commerce have signed a cooperation document which is aimed to help give a boost to the country’s exports to neighboring Iraq, especially to southern province of Basrah.
Iraq remains capable of importing gas from Iran despite the US decision to revoke a sanctions waiver, according to an Iranian energy official familiar with the matter.
Approximately one-third of imports to the Kurdistan Region of Iraq are sourced from Iran, according to Mustafa Abdul Rahman, the President of the Kurdistan Region Exporters and Importers Union.
Iran exported $4.9 billion worth of agricultural and food products in the first eight months of the Iranian calendar year (March 20 – November 21), with Iraq emerging as the top destination for these exports, according to a report by Tehran Chamber of Commerce’s Economic Studies Department.
The Iraqi government has granted preliminary approval for the transit of Iranian goods to Kuwait through its territory, according to Amin Fartousi, a board member of the Iran-Kuwait Joint Chamber of Commerce.
Hamid Hosseini, the vice-chairman of Iran-Iraq Joint Chamber of Commerce, has appreciated “Iran’s record exports” to neighboring Iraq.