Iran looks for lucrative trade with Iraq amid Mosul liberation
Baku, Azerbaijan, July 11
By Khalid Kazimov – Trend:
While Iraq is celebrating its victory over the IS terrorist group (ISIS,ISIL, Daesh) in Mosul, Iran plans to double its trade ties with the western neighbor in the long-term.
“The liberation of Mosul will contribute to improving of business environment in Iraq,” Mehr news agency quoted the co-chairman of Iran-Iraq Joint Chamber of Commerce, Yahya Al-e Eshaq, as saying.
The value of Iran’s annual exports to Iraq currently stands at $10 billion but the Islamic Republic is capable of increasing the figure to $25 billion per year, the Iranian official added.
Forecasting that the Arab state will turn into the largest regional market within the next 20 years, the entrepreneur encouraged his colleagues to invest and organize joint-ventures in Iraq in order to reap long-term benefits from the neighboring country’s market.
After nine months of intensive clashes which left large areas of the city in ruins, Iraqi Prime Minister Haider al-Abadi on July 10 formally declared victory over the IS in Mosul.