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Iran plans to increase export of engineering services to Iraq

Business Materials 3 June 2021 15:40 (UTC +04:00)
Iran plans to increase export of engineering services to Iraq

TEHRAN, Iran, June 3

Trend:

Iran has the capacity to export $5 billion worth of engineering services to Iraq, and it is likely that the two countries reach a $20 billion mark in trade, Director General of Iran and Iraq Joint Chamber of Commerce Seyyed Hamid Hosseini said, Trend reports via IRNA.

"Iran has the capacity to annually export $10 billion worth of commodities to Iraq, and there are circumstances for export of engineering services as well," he said.

"It is required to improve infrastructure and approve proper regulations for trade between Iran and Iraq in order to reach the joint target," he said.

Hosseini pointed out that there are $3 billion worth of banned commodities that are being smuggled from Iran to Iraq.

"The officials of the two countries have signed a memorandum of understanding during the first two months of the current Iranian year (started March 21,2021) and the agenda is to send skilled professionals to Iraq," he said.

Hosseini said that Iran-Iraq trade has reduced in first two months of the current Iranian year (started March 21,2021) by 18 percent while borders were closed last Iranian year (started March 20,2020) due to COVID-19 that affected the trade," he said.

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