Iran Eyes Higher Share in Iraq’s Foreign Trade
ILNA: Iran has ramped up efforts to seize one - fourth of neighboring Iraq’s annual foreign trade exchange, an official announced.
Addressing an economic conference in Tehran on Sunday, Chairman of Iran - Iraq joint chamber of commerce, Yahya Al - e Eshaq, said ۱۷ percent of Iraq’s total foreign trade is now allocated to Iran.
He further unveiled plans to increase the figure to ۲۵ percent.
Al - e Eshaq said ۹۰ percent of Iran’s commercial activities in Iraq are done by the private sector, stressing the need for stronger presence of Iranian brands in the Arab country.
In May ۲۰۱۴, Iranian first vice - president called for a major boost to the economic ties between Tehran and Baghdad, saying the two neighboring countries should draw up a plan to raise the volume of their annual trade turnover to $۲۰bln.
And earlier this month, Secretary of Iran’s Supreme National Security Council(SNSC) Ali Shamkhani said mutual cooperation between Iran and Iraq in oil and gas industries can serve as a model for other nations.
He also expressed the hope that given the good agreements made between the two countries’ economic organizations, Tehran - Baghdad cooperation would be further promoted on issues like dredging the Arvand River, connecting railroad networks of the two countries, and developing transit of goods and joint ventures in oil, gas and petrochemical industries.