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Iran Iraq

Shalamcheh crossing reopens for trade after 24-hour closure

Shalamcheh crossing at the border between Iran and Iraq has been reopened for trade after a 24-hour closure.

Trade

Iran, Iraq aim to increase bilateral trade to $20 billion

The Iranian Head of the Iran-Iraq Join Economic Committee Reza Ardakanian predicted on Tuesday that the Iran-Iraq annual trade will increase to 20 billion U.S. dollars.

Trade

Iran to pump 65,000 bpd from oilfield shared with Iraq

A contractor working for the Iranian Oil Ministry says production from a joint oilfield located at the border with Iraq is to begin soon.

Energy

Iran to resume gas flows to Iraq after agreement on unpaid bills

Iran will resume normal gas flows to Iraq on Wednesday after reaching an agreement with Iraq on Tuesday over unpaid bills, a spokesman for Iraq’s electricity ministry said.

Energy

Iraq to release Iranian funds for vaccine purchase from Europe: Minister

Iran’s Energy Minister Reza Ardakanian says he has reached an agreement with the Iraqi government authorities on how Iranian funds blocked in a commercial bank in the Arab country could be used by Tehran for purchase of COVID-19 vaccines from a European manufacturer.

Society Economy

US grants Iraq 45-day sanctions waiver allowing import of Iran gas before Joe Biden takes office

The US has granted Iraq a shortened 45-day sanctions waiver to import Iranian gas that will expire days before Donald Trump’s term ends.

Energy

Iran’s money in Iraq over $5 billion: CBI chief

Iran’s central bank governor Abdolnaser Hemmati says he is “hopeful” his visit to Baghdad on Monday and successful talks with Iraqi officials would enable Tehran to use more than $5 billion of its funds in the country.

Trade

Iran and Iraq reach deal to release trapped energy payments

An agreement was reached between the Central Bank of Iran, Central Bank of Iraq and the Trade Bank of Iraq to unfreeze Iran’s financial assets in the neighboring country.

Trade

New contractor to finish railway linking Iran’s Shalamcheh to Iraq’s Basra

The Iranian government has picked up a new contractor for construction of a key railway extension into the Iraqi territory with sources saying that the bidder would provide full finances worth 100 million euros for the project.

Transportation

Iran’s export to Iraq via Bashmaq border hits $1 billion in five months

A total of 479,195 tons of commodities worth $1 billion transited through Bashmaq border crossing located in the western Kurdestan Province during the first five months of the current Iranian year (March 20-Aug. 21).

Trade

Iran Chamber of Commerce, Industries, Mines and Agriculture

Established in 1884, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is a non-profit and non-governmental institution which aims at facilitating economic growth and development in the country. Iran Chamber tries to further coordinate the activities of the private sector. As an economic forum, representatives from both the government and the private sector attend Iran Chamber's sessions. Meanwhile the institution acts as an advisory body to the government, parliament and judiciary.

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