Iran ready to export gold to Iraq and via transit to Syria

Business Materials 10 April 2019 11:34 (UTC +04:00)

Baku, Azerbaijan, April 10

By Elnur Baghishov – Trend:

Iranian gold producers are ready to export their products to Iraq and via transit to Syria, Hojjat Shafaei, Head of the Gem & Jewellery Manufactures & Exporters Union of Iran (JMEU), told Ibena, Trend reports.

According to Shafaei, Iran has a very good potential for exporting gold to Iraq and Syria.

"The Iraqi side has also expressed interest in this," he said.

Shafaei said that the Iraqi government has allocated a place for a permanent exhibition of Iranian gold in Iraq.

He also added that Iran's Chamber of Commerce has also purchased a large, fully-equipped building in Iraq, so as to be able to use economic unions for their exchanges with the Iraqi side.

Shafaei said that Turkey and the UAE have currently started to export gold to Iraq, and Iraq shows great interest in cooperation with Iran in this field.

He added that there are no bans on exports of gold to Iraq, but the main problem concerns banking issues. Once the problem finds its solution, cooperation in export and production can begin.

The US imposed sanctions on Iran in November 2018, which led to the end of Iran's cooperation with SWIFT. This has created certain restrictions in international trade for Iran.