Iran, Iraq Trade Hits 20% Growth in 11 Months: Minister
TEHRAN (Tasnim) – The volume of trade exchanges between Iran and Iraq in the 11 months of the current Iranian calendar year of 1401 (March 21, 2022 to February 21, 2023) registered a 20 percent growth compared to the last year’s corresponding period.
Iranian Minister of Economic Affairs and Finance Seyed Ehsan Khandouzi made the remarks on Tuesday, reemphasizing that Iran-Iraq trade showed a significant 20 percent hike in the 11-month period.
He said the policy of President Ebrahim Raisi’s administration, which is based on neighborliness and regional diplomacy, bore fruit and the current volume of trade between Iran and Iraq is on the upward trajectory.
The economy minister pointed to the 5th Iran-Iraq Joint Economic Commission and said, “Efforts are being made to remove some trade and economic barriers facing the two countries in the Commission, especially those in the field of energy and also water and electricity sectors.”
During a meeting held with the Iraqi officials including the minister of industry and trade in Baghdad on Monday, important issues were discussed in the transit sector, settling the corridor problems between Iran and Iraq, launching Shalamcheh – Basra Railway, setting up three industrial parks at common border points between the two countries and also ironing out some problems in the banking and financial sector.
In a meeting with the Iraqi Prime Minister Mohammad Shia’ Al-Sudani, accelerating the implementation of approvals was put atop agenda, Khandouzi further said.