Iran, Iraq bilateral trade can improve - Energy Minister

Oil&Gas Materials 12 January 2021 13:23 (UTC +04:00)
Iran, Iraq bilateral trade can improve - Energy Minister

BAKU, Azerbaijan, Jan. 12


Iran`s Minister of Energy announced the efforts of Iran and Iraq to increase the level of trade between the two countries to reach over $20 billion a year.

"Achieving this goal requires removing customs, monetary and banking barriers, and the private sector cooperation," Iran Minister of Energy, Reza Ardakanian said at the opening ceremony of the fourth meeting of the Joint Iran-Iraq Economic and Trade Cooperation Commission, Trend reports citing IRNA.

He also stressed the need to remove the customs and tariffs barriers.

Ardakanian said that Iran's main strategy is to develop relations with neighboring countries. "We are ready to share our experiences with our neighbors."

Referring to the reopening of the Joint Commission for Economic Cooperation between Iran and Iraq, the Minister of Energy added that the commission has been resumed its work after a six-year delay.

"Holding this summit will pave the way for the development of trade and economic relations between the two countries," Ardakanian noted.