Tehran, Baghdad set to bolster industrial, trade ties
Azerbaijan, Baku, Apr. 23/ Trend F.Milad/
Iran and Iraq have agreed to expand bilateral cooperation in different fields of industry and trade, the IRNA news agency reported on Monday.
Iranian Industry, Mine and Trade Minister Mehdi Ghazanfari met with Iraqi Planning Minister Ali Yusuf al-Shukri, Industry and Minerals Minister Ahmed Nasser Al-Karbouli, and Trade Minister Khairallah Hassan Babiker in Tehran.
"Iran-Iraq trade halved in 2011 falling to $4 billion compared to 2010", head of the International Trade Relations Department at the Iraqi Trade Ministry Hashim Al-Sudani told Trend on Feb.14, 2012.
The officials agreed on holding an investment opportunity forum in Iraq in July. The Iraqi side called Iranian companies to actively participate in the Baghdad international exhibition.
Launching joint ventures in steel industry and modernizing the Iraqi standardization systems by Iranian experts were among other agreements during the meeting.
An Iraqi trade delegation planned to travel to Iran within the next 10 days to sign a deal for expanding the two-way trade.
Iran's First Vice-President Mohammad-Reza Rahimi said in July 2011 that Iran and Iraq have agreed to increase the value of their bilateral trade to $20 billion in the near future.
Iran exported about $1 billion electricity and oil products and the same amount of technical and engineering services to Iraq in the previous year, the IRNA news agency said.