High-profile Iraqi trade delegation due in Iran

Business Materials 9 January 2013 16:24

Azerbaijan, Baku, Jan. 9 / Trend, F. Mehdi/

An Iraqi trade delegation comprising of over 200 high-ranking officials from the both state and private sector will soon travel to Iran, the Mehr News Agency quoted secretary general of the Iran-Iraq joint chamber of commerce, Jahanbakhsh Sanjabi, as saying.

He put the annual trade between the two countries at about $10.7 billion, saying that Iraq is Iran's main trading partner.

Bilateral trade amounted to $4.6 billion during the first nine months of the current Iranian calendar year, which began on March 20, 2012, he said.

In August 2012, Iranian Industry, Mine, and Trade Minister Mehdi Ghazanfari, in separate meetings in Tehran with Iraqi Trade Minister Khairalla Hasan Babiker and Industry and Minerals Minister Ahmad Nassar Dali al-Karbouli said that Iran is ready to launch joint ventures with Iraq in the fields of trade, transportation, and insurance.

The two sides also agreed to establish joint companies in order to boost industrial and mineral exports to Iraq.

Iran expressed its readiness to invest in infrastructure projects and Iraq and meet the demands of its neighbor in the industrial, mineral, and agriculture sectors.

Iran's Foreign Ministry Spokesman Ramin Mehmanparast said that the value of trade turnover between Tehran and Baghdad will reach a figure between 12 and 15 billion Dollars during the current Iranian year.