Baku, Azerbaijan, Mar.10
By Fatih Karimov - Trend:
There is a welcome opportunity for Iranian companies to participate in development projects in Iraq, the Fars News Agency quoted Rostam Qasemi, chairman of the Iran-Iraq economic development headquarters as saying on March 10.
Iranian companies could implement roads, dams and power stations, housing, industrial and other technical and engineering projects in Iraq, Qasemi added.
The large Iraqi market should be a main target for the Iranian private sector, he noted.
Iraq is currently the second leading trade partner for Iran, he said, adding that Iraq needs $500 billion to restore its economic infrastructure which were destroyed in recent years.
The year 2013 registered high levels of commercial exchange between Iraq and Iran, which reached, according to both Iraqi and Iranian officials more than $12 billion. This comes at a time when the Iraqi government aspires to increase trade between the two with a goal of $15 billion.
Adviser to the Iraqi Prime Minister for Economic Affairs Abdul Hussein al-Anbaki explained that the most common goods imported from Iran to Iraq are canned food including cheese and dairy products, as well as soft drinks, meats, vegetable oil, household items and electrical appliances, Al-Monitor reported.
Iran is currently exporting 24 billion cubic meters of gas to Iraq annually.Iraq also imports 400 megawatts of power from Iran.
Edited by S.M.