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Promotion of trade ties with Iraq high on Iran's agenda

Business Materials 17 August 2018 17:44 (UTC +04:00)

Baku, Azerbaijan, Aug. 17

By Ali Mohammadi - Trend:

Iran's commercial attaché to Iraq Nasser Behzad said Tehran and Baghdad are determined to boost their bilateral trade to serve the two countries’ common interests.

“Currently, the trade process between the two countries is normal and exports and imports via the two countries border crossings are underway without a hitch,” Behzad said on Aug. 17, according to IRIB news agency.

He stressed that the trade turnover between Tehran and Baghdad has witnessed a growing trend in the first 4 months of the current Iranian fiscal year (started March 21).

“Iran exported goods worth $2.7 billion to Iraq during the corresponding period, registering a 24 percent and 14 percent rise in terms of volume and value, respectively, compared to the same period last year," said Behzad.

The official further said that Iranian firms have no plans to leave Iraq’s market and that they plan to invest more in the neighboring Arab country.

He explained that this increase owes to the rise in the exports of agricultural products, machinery, mechanical and electronic devices and pharmaceuticals.

Among Iran’s main exported products to Iraq are tomato paste, spaghetti, flour, dairy, petrochemicals and industrial lubricants.

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