Iran, Iraq agree to build joint industrial parks

Business Materials 25 November 2015 12:54 (UTC +04:00)

Baku, Azerbaijan, Nov. 25

By Fatih Karimov- Trend:

Iran and Iraq will construct joint industrial parks in the border provinces, Khosro Piri, an official with Iran's Ministry of Science, Research and Technology said.

He made the remarks following a meeting with Iraqi officials from the ministry of higher education and scientific research Nov. 24, Iran's official IRNA news agency reported.

Piri said that the two parties also underlined cooperation in the science and technology fields.

The Iraqi officials called for boosting cooperation in research in oil, energy and agriculture sectors, he added.

There are over 900 approved projects on construction of industrial parks in Iran, with some 700 of them ready for commissioning.

Iran-Iraq trade, including other cooperation such as transit and tourism, stood at $12 billion a year, Iranian Economy Minister Ali Tayebnia said last September.

The parties recently signed three strategic economic agreements, aimed at increasing the level to $20 billion a year.