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Iran's exports to Iraq increase

Business Materials 27 April 2020 11:42 (UTC +04:00)
Iran's exports to Iraq increase

BAKU, Azerbaijan, April 27

By Elnur Baghishov - Trend

The value of Iran's exports to Iraq reached $8.9 billion, having increased by 0.7 percent and in the last Iranian year (from March 21, 2019 to March 20, 2020) compared to the preceding year (from March 21, 2018 to March 21, 2019), said Masoud Kamali Ardakani, director general of Industrial and Mineral Exports Development Office at Iran’s Trade Development Organization (TPO), Trend reports referring to the TPO’s website.

According to Kamali Ardakani, Iran's exports to Iraq increased by 29 percent in terms of weight in the last Iranian year compared to the preceding year and stood at 25 million tons.

Kamali Ardakani added that Iraq ranked second in Iran's product export destinations after China in the last Iranian year and accounted for 21 percent of Iran's total exports.

The official added said that the exported products mainly included medicines and medical supplies, rubber, ceramics, steel products, cables and wires, household appliances, electrical equipment, pipes and profiles, construction materials, water conditioners, factory carpets, industrial equipment, dairy products, automotive spare parts, agricultural products and startup products.

Kamali Ardakani said that the 4th meeting of the joint committee and joint commission on trade cooperation between the two countries will be held and new agreements will be signed in order to increase exports to Iraq this Iranian year (starting from March 20, 2020).

The official said that work is underway to raise the trade turnover between the two countries to $20 billion next year Iranian year (starting March 21, 2021). It is planned to increase industrial cooperation, introduce new opportunities for Iranian exports to Iraq, participate in international exhibitions in Iraq and hold Iranian exhibitions in Iraq.

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