Secretary General of Iran-Iraq Chamber of Commerce: Iraq needs Iran’s electricity

Business Materials 11 May 2019 12:49 (UTC +04:00)

Baku, Azerbaijan, May 11

By Elnur Baghishov – Trend:

The US will make exemptions so as to allow Iraq to purchase electricity from Iran, as Iraq needs 14,000-15,000 megawatts of electricity, Hamid Hosseini, Secretary General of Iran-Iraq Chamber of Commerce, told Ibena News Agency, Trend reports.

According to Hosseini, although Iraq produces 14,000-15,000 megawatts of electricity annually, the country needs equivalent amounts of electricity in order to meet the national demand. He added that the US will eventually cancel the sanctions on the purchase of Iranian electricity by Iraq by making some exemptions or turning a blind eye.

Commenting on the decline of the exports of Iranian cement to Iraq, Hosseini noted that one of the reasons is that Iranian companies made investments in cement production in Iraq.

In his words, Iran's decision to create a branch of the Export Guarantee Fund of Iran (EGFI) in Iraq may help to increase Iran's exports to Iraq.

"[Moreover], we believe that, instead of creating a branch or an office, EGFI should create a company in Iraq, so that - considering a number of possible limitations the Iraqi government may have – its operations will not face difficulties," he said.