Trade value between Iraq, Iran to reach USD10b

18 Aug 2011

(MENAFN) Iran’s Deputy Commerce Minister, Hamid Safdel, said that his country and Iraq would raise yearly mutual trade value to hit USD10 billion from the current USD6 billion, reported Tehran Times.

Safdel added that Iran could take advantage from the periodic exhibitions held in Iraq to increase its share in the country’s competitive market.

He also said that last month, his country along with Syria and Iraq signed the “Islamic Gas Pipeline” deal in order to pump Iran’s natural gas from South Pars gas field to Europe via the 5,600 km pipeline.

It is worth noting that Iran and Iraq will facilitate transportation, customs clearance, execute the deals that were already signed by the two countries in different fields and increase cooperation between the two countries’ private sectors.

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