Baku, Azerbaijan, Apr.6
By Fatih Karimov - Trend:
Iran and Iraq reopened a border trade place which had been closed in the 1980s in the wake of the Iran-Iraq war.
Officials from the two countries reopened the Sumar-Mandali border trade place on April 5, Iran's Fars news agency reported on April 6.
The project cost about $10 million. It will create more than 1500 job opportunities in the region.
There are currently 9 border trade places between Iraq and Iraq.
Iran and Iraq are working to finalize a comprehensive trade document which could increase their bilateral trade to $30 billion per year.
In October 2014, Iranian Industry, Mining, and Trade Minister Mohammad-Reza Ne'matzadeh said increasing industrial, mining, and banking cooperation and launching joint ventures can give a great boost to the efforts to increase Iran-Iraq bilateral trade.
Iraq was the second biggest importer of Iranian non-oil goods in Iranian calendar year 1392 (March 2013-March 2014).
Iran exported $5.9 billion of non-oil goods to Iraq and imported $68.4 million of non-oil goods from the Arab country.