TEHRAN,Iran, Feb.3
Trend:
While the US sanctions against Iran haven't affected the Iran-Iraq trade, but certain sectors, including the auto market, have reduced imports from Iran, the head of Iran-Iraq joint Chamber of Commerce Hamid Hosseini told Trend.
"The new Us sanctions didn't have a significant effect on the Iran-Iraq ties, but due to protests and riots in Iraq, certain challenges have emerged in the Iraqi auto market. While the border was closed, it affected exports, but overall the economic cooperation between our countries was good," Hosseini said.
"In the current situation we can't say we're not concerned that we've lost some markets in Iraq," said the official.
He added that in the current Iranian year (began March 21, 2019) there have been limitations from the Iraqi government on export of some Iranian items, but it was compensated by export of other commodities.
Hosseini expressed hope that with the formation of Iraqi government, and once the situation with unrests calms down, Iran will be able to increase its exports to Iraq.
The official has indicated that the sanctions have not affected the entire economy of Iraq, as the country received exemptions for power and gas.
"The auto market suffered because of sanctions, and Iran had good positions in the Iraq's auto market. We've lost it," Hosseini said.
He also hinted that having a joint border, Iran and Iraq can initiate unofficial trade, if the Iraqi government decides to reduce the official trade volume.
At the same time, Hosseini pointed out that Iran needs to keep looking for new markets.
"While the Iraqi market for Iran is open even under sanctions, we cannot depend only on this market," he said.