Azerbaijan, Baku, May 23/ Trend F.Milad/
Iran exported over $11 billion worth of goods to Iraq in the past calendar year which ended on March 19, the Iranian ambassador to Iraq said.
However, head of the International Trade Relations department at the Iraqi Trade Ministry Hashim Al-Sudani told Trend on Feb.14, 2012 that "Iran-Iraq trade had halved in 2011 falling to $4 billion compared to 2010".
Hassan Danaeefar told the IRNA News Agency that some $3 billion of this figure was related to exports of electricity and around $8 billion to the exports of oil products to the neighbouring country.
Danaeefar had said earlier that Iranian companies are projected to build two power plants in Iraq. The two sides have signed a deal worth $400 million to establish a gas pipeline from Iran to Iraq, he added, the IRNA news agency reported.
Iran's First Vice-President Mohammad-Reza Rahimi said in July 2011 that the two countries have agreed to increase the value of their bilateral trade to $20 billion in the near future.