BAKU, Azerbaijan, Feb. 15
Trend:
The establishment of an Iran- Iraq joint commercial court is an important and effective step in trade relations between the two countries, the director-general of Iran's Trade Promotion Organization (TPO)'s Office of Arabian and African Countries said.
“The trade relations between the Islamic Republic of Iran and Iraq have reached about $10 billion in recent years,” the director-general of Iran's Trade Promotion Organization (TPO)'s Office of Arabian and African Countries, Farzad Piltan said, Trend reports citing ILNA.
“Within the framework of this high volume of trade, extensive relations have been formed between the two countries and thousands of traders and companies, of the two countries annually participate in bilateral Trade conferences,” he said.
Considering that obtaining a visa requires time and costs, he suggested issuing multiple long-term visas or visa waivers to support the facilitation of trade relations.
"Visa waiver, as the most important step, can reduce costs, time, and ultimately facilitate and speed up business meetings,” Pilten said. In recent years, the governments of the Islamic Republic of Iran and Iraq have made many efforts to abolish trade visas between the two countries.
Referring to the visit of the head of Iran judiciary to Iraq, the official said that the visit of the head of the judiciary can play a valuable role in reducing costs and facilitating and accelerating business activities.
Referring to the establishment of an Iran- Iraq joint commercial court, Pilten added that despite the existence of an arbitration center in the chambers of commerce of the two countries to address trade disputes between traders of the two countries, the establishment of a joint court between the two countries can reduce waste of time, costs and prevent confusion.
Raisi arrived in Baghdad on Monday night at the official invitation of the head of Iraq's Judiciary Faegh Zeidan, on a three-day visit.
He is to meet and hold talks with Iraqi Parliament Speaker Mohamed al-Halbousi.
Iran’s Judiciary Chief Ebrahim Raisi and Iraqi Prime Minister Mustafa al-Kadhimi met on Tuesday to hold talks on further boosting bilateral relations.