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Iran, Iraq negotiating potential bilateral monetary agreement

Business Materials 19 November 2018 09:57 (UTC +04:00)

Tehran, Iran, Nov.19

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According to the Head of the Iran-Iraq Joint Chamber of Commerce Yahya Ale Eshaq, the two countries are negotiating to sign a bilateral monetary treaty.

“Various negotiations between the central bank of Iran and Iraq have taken place and it’s likely that a monetary treaty will be launched soon,” Tasnim reported quoting Ale Eshaq as saying.

"If bilateral trade transactions between two countries will be implemented with rial and dinar, many problems in the money transfer will be resolved,” he said.

“Iran’s exports to Iraq have risen by more than 30 percent over the past seven months," he added.

The official added that during this period, $6 billion worth of goods were exported from Iran to Iraq.

"Iran's export of goods to Iraq includes food items, construction materials and other necessary items to this country,” he said.

The official noted the importance of economic, commercial and political ties with Iraq, as a necessary, long-term, strategic relations.

"Preserving this relationship is very important for both sides,” he said.

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