Iran-Iraq trade volume can be doubled: envoy

Noting that currently, Iran’s non-oil trade with Iraq stands at around $10 billion, Masjedi said the amount could reach $20 billion by adding to the revenues of oil and gas trades between the two states.

He made the remarks in a conference on boosting Iran-Iraq economic ties in Basra attended by 120 businessman and entrepreneurs, as well as 34 Iranian companies.

Referring to the five consulates in Najaf, Karbala, Basra, Erbil and Suleimanieh, Masjedi and the significant number of religious and medical tourists exchanged between the countries, the official attached great importance to boosting bilateral cooperation in different sectors.

The official urged the need for involvement of Iranian companies in Iraqi projects to help improve economic transactions between the two countries.

Iran and Iraq share longstanding cooperation in different economic sectors, with their private sectors having geared up to enhance the level of mutual collaborations.

Some 64 Iraqi businesspersons attended Iran EXPO, Export Potential Exhibition of the Islamic Republic of Iran, last week, presenting their latest products in 12 categories of food industry, agriculture, automotive, handicrafts, industrial parts, electricity and energy, carpets, textiles, leather and apparel, household appliances, cellulosic health products, medical and hospital equipment, and construction industries.

/SR