Tehran has been seeking to get a bigger share of the huge reconstruction market in Iraq following the end of war against the ISIS. Iranian power companies are the main rivals for American and European firms who are struggling to win big contracts.
Iran is capable of producing 25 million tonnes of steel in the current fiscal year which ends on March 21, 2019 but foreign sanctions and duties are a big hurdle, the head of the Iranian Steel Producers Association says.
Iranian ambassador to Baghdad said Iran and Iraq are weighing plans to eliminate US dollar in trade transactions and also lift visa requirements for citizens of the two countries.
Iran and Iraq could raise their annual bilateral trade to $20 billion from the current $12 billion, President Hassan Rouhani said on Saturday, despite concerns over the impact of renewed U.S. sanctions.
In a meeting at Karbala Chamber of Commerce, an Iranian trade delegation from Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) discussed increasing mutual ties with their Iraqi counterparts, the portal of ICCIMA reported.
Iran Chamber of Commerce president highlighted the country’s capabilities in the field ICT and said Iran’s private sector is ready to have strong presence in the ICT markets of neighboring Afghanistan and Iraq.
Iran opens the first regional bureau of Iran-Iraq Joint Chamber of Commerce in southwestern city of Ahwaz.