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Iran-Iraq Trade to Hit $20bn

Service : Economy
TEHRAN, July 8 (ICANA) – Iran's First Vice President Mohammad Reza Rahimi says the Islamic Republic and Iraq have agreed to increase the volume of their bilateral trade to $20 billion in the near future.
Friday, July 08, 2011 9:26:17 PM
Iran-Iraq Trade to Hit $20bn

“We agree to increase the value of mutual economic and trade exchange, which is expected to reach 10 billion dollars by the end of the current year, to 20 billion dollars in the near future,” Rahimi told reporters in the Iraqi capital, Baghdad, on Thursday, IRNA reported.

He also noted that Iranian and Iraqi officials have held “useful and constructive talks” for expansion of cooperation over the past two days.

Rahimi arrived in the Iraqi capital earlier on Wednesday for a two-day official visit.

Iran and Iraq on Wednesday inked six Memoranda of Understanding (MoU) to expand cooperation in various sectors such as information technology, health and medication and culture.

The documents were signed by the Iranian vice president and Iraqi Prime Minister Nouri al-Maliki in Baghdad.

Maliki has hailed Iranian vice president's Baghdad visit, saying it is a “major step” toward enhancing relations between the two neighboring countries.

“The growing ties between Tehran and Baghdad indicate the great determination of the officials and nations of the two countries to enhance relations,” IRNA quoted the Iraqi premier as saying in a joint news conference with Rahimi in Baghdad.

“This visit paved the way for Tehran and Baghdad to expand their cooperation in the areas of energy, oil, electricity, gas, industry and agriculture among other fields,” Maliki pointed out.

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