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.
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.
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).
Iran’s exports to Iraq are gradually growing compared to initial months of the spread of the coronavirus pandemic in the Middle East beginning late February, a member of Iran-Iraq Joint Chamber of Commerce says.
Shalamcheh crossing at the border between Iran and Iraq has been reopened for trade after it was temporarily closed by the authorities on the Iraqi side from Eid al-Adha to Eid al-Ghadir.
Khosravi crossing at the border between Iran and Iraq has been reopened for trade after it was closed by the authorities on the Iraqi side about five months ago due to the spread of the new coronavirus.
Head of the International Department of the Central Bank of Iran said constructive talks were held with Iraqi officials which could result in unfreezing millions of dollars of Iranian money.
President Hassan Rouhani says his administration is determined to take the volume of Iran and Iraq’s annual bilateral trade to $20 million.
Mehran crossing on the border with Iraq was reopened on Monday for the trade between Iran and Iraq to be resumed. The crossing would be open on Sundays and Wednesdays allowing 500 trucks to move weekly.
Iranian customs officials discussed reopening of Mehran border with Iraqi partners to resume trade as both nations have taken health measures to guarantee hygienic transportation of goods.