Iran exports to Iraq via Shalamche border rises by 67%

Business Materials 29 September 2014 16:25 (UTC +04:00)

Tehran, Iran, Sept. 29

By Milad Fashtami - Trend:

Iran exported over 1.5 million metric tons of goods worth $523 million to Iraq via the Shalamche border, located in the west of the country, from the beginning of the current year (March 21) so far.

Aref Bavi, the Head of Khaoramshahr's Customs Administration, said the figure shows 67 percent increase in terms of value compared to same period of the previous year, Iran's IRIB News Agency reported on September 29.

"Vegetables and fruits, cement, and construction materials were the main exported goods," he said.

Secretary General of the Iran-Iraq Joint Chamber of Commerce Jahanbakhsh Sanjabi said on September 24 that the Export Guarantee Fund of Iran has opened $300 million line of credit for exports to Iraq.

He said that the Iranian government seeks to prevent exporting low-quality goods to the neighboring Iraq, adding that the Islamic Republic exported $2.2 billion worth of goods to Iraq in the first five months of the current calendar year (March 21 - August 23).

"Adding energy and electricity exports and tourist exchanges, Iran's total exports to Iraq in the mentioned period reaches $5.5 billion," he said at the time.

Sanjabi went on to note that Iran's exports to Iraq has decreased compared to previous year, but the country has managed to expand its share of the Iraqi market due to lack of presence of Turkish firms.

Iran plans to hold a conference on trade opportunities for Iranian and Iraqi businesspersons in capital Tehran in late December.

The two-day event aims at finding possible ways to boost Iranian goods' exports to Iraq, Iran's IRIB News Agency reported on September 24.

The event will be held on December 27-8 at Shahid Beheshti University.