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Iran to Increase Trade Ties with Iraq

Service : Economy
TEHRAN, June 28 (ICANA) – Head of the Iran-Iraq Economic Development Committee Hassan Kazemi Qomi says Tehran is set to increase its trade relations with its neighboring state.
Tuesday, June 28, 2011 9:25:05 PM
Iran to Increase Trade Ties with Iraq

“The Islamic Republic intends to expand Iran-Iraq trade ties in a five-year plan,” Kazemi Qomi said on Tuesday, Mehr News Agency reported.

Trade and technical-engineering cooperation between Iran and Iraq has reached USD 10 billion and is set to increase to USD 20 billion, he added.

Meanwhile, the Iranian official said that Iran's Foreign Ministry seeks to lift visa requirements for Iranian traders in Iraq.

Being in a construction phase, Iraq is in urgent need of development and Iran's economic cooperation, Kazemi Qomi said.

Last week, Iran's Foreign Minister Ali Akbar Salehi said after a meeting with his visiting Iraqi counterpart Hoshyar Zebari that Iran and Iraq would hold a joint economic commission session in the near future.

Several major economic agreements have been prepared which will help boost economic ties between the two countries.

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