According to forecasts, this year the volume of trade between Iran and Iraq will reach $10 billion.

According to forecasts, this year the volume of trade between Iran and Iraq will reach $10 billion.

Yahya Al-Eshag made the statement on Monday at a meeting of the Political Council for the Development of Economic Cooperation between Iran and Iraq, which was held at the Tehran Chamber of Commerce, Industry, Mining and Agriculture. (TCCIMA).

“The fact is that economic diplomacy plays a key role in all areas of government, and in this regard, effective steps must be taken to strengthen the country’s economic diplomacy in international arenas,” he added.

Stating that the relationship between the two countries, Iran and Iraq, is “strategic”, Al-Eshag said that the economy, security, threats and opportunities of the two countries are fully interconnected with each other, so that Iran’s comprehensive development and relations with Iraq have been focused on economic issues.

He noted that given the great opportunities that existed between Iran and Iraq, it is predicted that the trade exchange between the two countries will reach $10 billion before the end of the current Iranian calendar year (until the end of March 20, 2023).

Elsewhere in his speech, he pointed to Iran’s trade with the Iraqi Kurdistan Region (KRG) and stated that Iran’s economic ties with the neighboring Iraqi Kurdistan Region have improved, so that Iran and Kurdistan have high opportunities and opportunities to expand their bilateral trade.

Sanjabi Shirazi, Secretary General of the Iran-Iraq Joint Chamber of Commerce, for his part, pointed to the achievement of $20 billion in trade between Iran and Iraq and estimated the value of trade exchange between Iran and Iraq last year (ended March 20, 2022). ) at about $9 billion with the possibility of increasing to $10 billion this year.

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