Chairman of Iran-Iraq Joint Chamber of Commerce Yahya AleEshaq said that during the first 9 months of the Iranian calendar year (March 22-December 21, 2019), $9 billion of non-oil goods and services were exported to Iraq.
Iraq is one of the major Iranian gas clinets to feed its power plants that general electricity for millions of its inhabitants.
Tehran and Baghdad have been looking to augment their trade volume and consolidate their trade ties. New commercial centres will help strengthen local markets as well.
Baghdad and Tehran are keen on expanding their commercial ties despite the US unilateral sanctions. Ditching dollar is one way to reach this goal.
Iran private sector says it has all the capacity to fully enter the Iraqi reconstruction market as the neighbouring country eyes foreign investment to rebuild itself.
Securities and Exchange Organization (SEO) of Iran and the Iraqi Securities Commission (ISC) signed a Memorandum of Understanding (MoU) to create a joint investment fund.
Central Bank of Iran (CBI) says reaching a 20-billion-dollar trade volume with Iraq is not a far-fetched objective as the two nations eye increasing their annual trade exchanges.
Iran and Iraq vowed on Monday to take further steps to develop their bilateral ties as the two neighbors eye closer regional cooperation in the wake of rising tensions in the region.
he Iraqi capital city, Baghdad, is hosting a joint meeting of Economic Cooperation Commission with Iran. The two-day session opened on Sunday and will conclude on Monday.
AFP is reporting that a dinar-based account in Trade Bank of Iraq is supposed to be used to pay for Iranian energy in return for Tehran’s humanitarian purchases.