Iran planning for $20bn trade with Iraq: official

Yahya Al-e Es’hagh, Chairman of Iran-Iraq Chamber of Commerce broke the news on Tuesday in a meeting of Industrial and Economic Cooperation Development between Iran and Iraq’s Kirkuk province, saying that Iranian and Iraqi governments are determined to develop their regional cooperation in all areas.

The determination stems from a special strategic situation that includes all political, economic, social and cultural areas, he said, adding, “Despite all events that are happening in the region, the relationship between the two countries of Iran and Iraq are on the upward trajectory.”

It seems that the current administration of Iran under President Raeisi has shown vehement interest in broadening and enhancing trade and economic ties with neighboring states, he emphasized.

Turning to the salient specification of Kirkuk province in Iraq, Yahya Al-e Es’hagh pointed out this province lies in the central part of Iraq and its status is satisfactory in terms of industry, oil and energy, agriculture and transit.

Given the historical background that Iran has with the Iraqi Kurdistan region, it is hoped that bilateral ties will be further expanded in trade and economic fields as well, he underlined.

Elsewhere in his remarks, the chairman of the Iran-Iraq Joint Chamber of Commerce pointed to the country’s planning for a $20 billion trade with Iraq and put the current trade volume exchange between the two countries at about $13 and $14 billion.

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