Iraq pays out part of debts for energy imports: Central Bank of Iran

Baghdad’s imports of gas and electricity from Iran equal four billion dollars however it’s not been able to pay the price due to financial restrictions caused by renewed US sanctions.

Photo gallery

Iraq-Iran joint business forum

Iran business delegation headed by Gholam Hossein Shafei, President of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), attended a joint business forum between Iraq and Iran that was held in Baghdad on 11 March 2019. Iranian President Hassan Rouhani and Iraqi Prime Minister Adil Abdul-Mahdi were also present at the forum.

Iran, Iraq agree to build Shalamche-Basra railway, offer free visas

The agreements come on day one of Iranian President Hassan Rouhani’s state visit to Iraq. The railroad is expected to boost mutual trade between the two neighbours.

Iran private sector calls for special Iran, Iraq desks to boost trade

The proposal comes as a large number of Iranian businessmen and women have traveled to Iraq in a bid to explore business and investment opportunities in the western neighbour. The two countries are eyeing $20bn trade volume per year.

Video

ICCIMA calls for FTA with Iraq to upgrade trade volume to $20bn

President of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam Hossein Shafei says a Free Trade Agreement with the western neighbour can elevate the annual bilateral trade volume to 20 billion dollars.

Rouhani’s landmark Iraq visit to consolidate bilateral trade, political ties

Iranian President Hassan Rouhani is due in Iraq on Monday in his first visit to the neighbouring Arab country since he took office in 2013. The landmark visit if significantly important as the two nations set eyes on increasing their bilateral trade to up to 20 billion dollars and snatch away economic and political initiatives from the US.

Iran plans to reconstruct Iraq electric power industry in next 3 years: Minister

As Iraq is looking to rebuild after eight years of occupation and war, Iran is also taking measures to get a bigger share of the neighbouring country’s reconstruction market.

Iran non-oil exports to regional countries show double-digit rise in 10 months

The increases are a clear sign that Iran is looking more to strengthen its economic relations with its neighbours, especially with those it shares borders, in the wake of intensified unilateral US sanctions.

Iraq snubs US push to cut off Iran energy imports

US President Donald Trumps Administration is pressuring other countries to stop purchasing energy from Iran in a bid to tighten the noose against Tehran. However, Baghdad says it can not and will not comply with punitive measures imposed by Washington.

Iran, Iraq open non-dollar payment channel in defiance of US sanctions

Tehran’s initiatives to avoid using US dollar in its interantioanl trade can consolidate warmer political and economic relations with its neighbours and regional countries. Such mecahnisms as well as Europe’s INSTEX could finally help it alleviate problems caused by punitive US measures.