Baghdad Eyeing Iranian Firms Investment in Iraq

National Investment Commission of Iraq is the most important domestic and foreign playmaking body in this country which plays a leading role in boosting trade and business in Iraq, said Chairman of the National Investment Commission of Iraq Sami Al-Araji on Monday.

He made the remarks in his meeting with Hassan Danayeefar Adviser to First Vice President and Secretary of Iran Economic Development Headquarters with Iraq and Syria and added, “Iraqi government welcomes presence of Iranian companies for investing in this country.”

Presently, vast fields of economic cooperation have been provided between the two countries especially participation of Iran’s private sector in the reconstruction and investment trend in Iraq.”

In this meeting, it was agreed that Iranian side should submit the names of its prestigious companies to Iraqi side.

In his first visit to Baghdad, Secretary of Iran Economic Development Headquarters with Iraq and Syria met and held talks with Osama al-Nujaifi, one of Sunni Arab political leaders, and reviewed the general situations of Iraq as well as trend of formation of the government in this country.

For his part, Hasan Danayeefar Adviser to the First Vice President also explained a comprehensive report on the economic potentials and capabilities of Iran in countering US unilateral and illegal sanctions and emphasized on the high power and strength of the Islamic Republic of Iran to move out of sanctions.

He also met and held talks with Iraqi Minister of Health and Environment and exchanged their views on the relevant field.

He revealed Iran’s readiness for dispatching medical staff, equipping hospitals and setting up drug and medicine production units in neighboring Iraq and added, “Islamic Republic of Iran enjoys high capability that can meet about 94 percent of its pharmaceutical needs inside the country.”

Danayeefar stated that his country is ready to meet pharmaceutical demands of neighboring Iraq.

In this meeting, Iranian Ambassador to Iraq Iraj Masjedi accompanied Danayeefar.

Also on Monday, Iranian President Hassan Rouhani underlined the importance of railway connection between Iran and Iraq, and said Baghdad should keep pace with Tehran in finishing the project.

President Rouhani described the development of rail transportation as a priority for people’s safety and convenience, and said, "Iran also aims to connect Khorramshahr-Basra railway which has many significant aspects, especially for Iranian pilgrims.

“Our connections with the neighboring countries are very important, specially at the time of sanctions,” the Iranian president added.

President Hassan Rouhani said Iran and Iraq can boost economic transactions to $20 billion through further cooperation and an $8 billion increase in the volume of bilateral trade.

In relevant remarks in early November, Deputy head of Iran Railways company, Mazyar Yazdani said that President Rouhani had ordered to start constructing the railway line from the Iranian port of Shalamcheh to the city of Basra in Iraq.

Yazdani explained that the Shalamcheh-Basra railway line will be 32-kilometer-long and will cost 2200 billion rials.

According to the Iranian official, Tehran will construct the railway line in Iran and Iraq and give it as a gift to Iraq but the Iraqi side has to cover the construction expenses later.

According to Yazdani after the project is completed, there will be a rail line between Iran, Iraq and Syria that extends to the port of Lattakia on the Mediterranean Sea.

Iran has been trying to counter the repercussions of the sanctions imposed by the United States on Monday by relying on its regional network of relations, especially in Iraq and Syria.