BAKU, Azerbaijan, August 15
By Elnur Baghishov – Trend:
Iran's annual exports will reach $20 billion over the next four years, Head of Iran-Iraq Joint Chamber of Commerce Yahya Al-Ishaq told ILNA, Trend reports.
According to Al-Ishaq, the value of Iran's exports to Iraq amounted to $12 billion in the last Iranian year (from March 21, 2019 to March 20, 2020).
“The export mainly included food products, construction materials, healthcare products, industrial products, household goods, technical and engineering services, electricity and gas,” he said.
The official stressed that following talks between central banks of the two countries, an agreement was concluded on transferring money for Iran's exports to Iraq.
Iran exported 6.44 million tons of non-oil products worth $1.96 billion to Iraq during four months of the current Iranian year (March 20-July 21, 2020). Iraq is the second largest importer of Iranian products, accounting for 22 percent of Iran's total exports.
As a result of the US sanctions re-imposed against Iran in 2018, there have been major problems in Iran's banking operations with other countries.
Recently, Iran has reached an agreement with Iraq on the payment for importing Iranian products.