Iran Ups Non-Oil Exports to Iraq by 55 Percent

Iran has considerably increased its exports of non-oil goods to Iraq in the first eight months of the current Iranian year (March 21, 2018-November 21, 2018), a senior trade official announced.

Iran exported $6.4 billion of commodities to Iraq during the first eight months of the current Iranian year, showing a 55 percent growth," Director of Arab-African Affairs of Trade Promotion Organization of Iran (TPO) Farzad Piltan said on Tuesday, addressing a ceremony held for exemplary Iranian exporters of Arvand Free Zone in Khorramshahr City, Khouzestan province, in Southwestern Iran.

He underlined that a 1,000-square-meter area has been allocated to establish a permanent exhibition for 25 Iranian companies showcasing their products in the Iraqi capital of Baghdad.

Piltan described building new transit routes between Iran and its neighboring countries as one of the other projects to expand trade with them, and said that connecting the railway system of Iran as well as building a transit corridor between Iran and Kuwait is being currently followed up.

The Arvand Free Zone with an area of 37,400 hectares is at the confluence of the Karoun and Shatt al-Arab Rivers and in proximity to Iraq and in the Northwest of Persian Gulf.

This Zone has long been one of the border and oil rich zones of the country due to the existence of freshwater Rivers of Karun and Arvand and also transportation facilities, including road, rail, sea and air.

In relevant remarks in mid-December, Iranian Ambassador to Iraq Iraj Masjedi underlined that the two neighboring countries can easily double their trade exchanges in the near future.

"Iran’s non-oil trade with Iraq stands at around $10 billion; the amount can reach $20 billion through revenues of oil and gas trades between the two states," Masjedi said, addressing a conference on boosting Iran-Iraq economic ties in Basra attended by 120 businessman and entrepreneurs, as well as 34 Iranian companies.

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

Some 64 Iraqi businesspersons attended Iran EXPO, Export Potential Exhibition of the Islamic Republic of Iran, last week, presenting their latest products in 12 classes 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.

source: FARS News Agency