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Iran can enter Arab world’s market via Iraq

Business Materials 2 July 2018 11:25 (UTC +04:00)

Tehran, Iran, July 2

By A. Shirazi - Trend:

The former Iranian ambassador to Baghdad and the current head of the committee to expand economic relations between Iran and Iraq Hassan Danaiefar said the Islamic Republic can use Iraq as a platform to establish a foothold in the Arab world’s markets.

“Iraq’s market is a competitive one. We should use Iraq’s market to enter the Arab world’s markets,” Danaiefar said, ISNA news agency reported on July 2.

He further stressed that Iran needs to make changes to its business activities and methods.

Danaiefar said the government needs to take the necessary measures to increase the volume of Iran’s exports to Iraq as the two neighboring nations enjoy many cultural, religious and geographical commonalities.

Noting that Iran’s export to the Arab country has witnessed decline in the past months, he said Tehran should start joint investment project with Baghdad and use Iraq as a platform to enter the Arab world’s market.

According to Iran’s commercial attache to Iraq, Nasser Behzad, Iran exported 10 million tons of goods worth over $5 billion to Iraq during the 10 months ending Jan. 20, indicating a 2-percent increase compared with last year’s corresponding period.

Among the products witnessing the highest year-on-year growth in exports were steam turbine parts with a substantial increase of 302 percent, plastic sheets with a 285-percent rise, pastries with a 61 percent rise and low-density oil with a 139 percent growth.

Behzad noted that Iraq is Iran’s second biggest non-oil export destination after China.

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