Iran Holds 25% of Iraqi Market
Chairman of the Trade Promotion Organization of Iran Hamid Zadboum said the value of Iranian exports to neighboring Iraq amounts to one-fourth of the Arab country’s total imports.
“Twenty-five percent of the import market in Iraq are held by Iran, as the value of Iranian goods makes up $10 billion of the total of $40 billion in Iraqi imports [per annum],” he was quoted as saying by ILNA.
Highlighting efforts to increase Iran’s share in the Iraqi market, Zadboum said Trade Promotion Organization of Iran has for the first time dispatched a commercial attaché to the Iraqi city of Basra.
“Iran has the potential to experience a big rise in exports to Iraq,” he added, citing the difficult trade conditions caused by US sanctions.
The official expressed optimism that Iran would boost exports to Iraq, stressing that the Islamic Republic is expected to gain a larger share of Iraq’s import market by next year.
The Iranian capital recently hosted a meeting attended by the businesspeople of Iran, Iraq and the Iraqi Kurdistan Region.
Held at Tehran’s Parsian Evin Hotel, the two-day meeting opened on Dec. 2.
According to Secretary-General of Iran-Iraq Chamber of Commerce Hamid Hosseini, 80% of Iranian companies use the Iraqi Kurdistan Region to enter Iraq’s market.
“Currently, 800 trucks carry Iranian goods and products into Iraqi Kurdistan on a daily basis,” he told IRIB News.
source: Financial Tribune
Top News
Five last month
Two last year
US Energy Dept finalizes $2.26bn loan for Lithium Americas’ Nevada mine
Abandoned copper mines embraced as fast track to boost output
Glencore posts lower metals output for first nine months, reiterates outlook
Mercuria eyes equity in African assets, new metals boss says
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Traders see gold as a surefire bet as coin-toss election looms
Gold price surge adds glitter to tarnished miners
Environmentalists sue over US approval of ioneer’s Nevada lithium mine
Gold price shows little reaction to jobs data
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
Liberty Gold advances Black Pine project permitting
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years
St Barbara raises $73m to fast-track Simberi sulphide production
Copper price sees biggest drop since May as Trump’s win boosts dollar
Sibanye agrees wage deal for its gold operations, union says
China’s industry ministry plans to step up lithium, cobalt, nickel exploration
China zinc smelter group sets processing fees for Q1 2025
Brazil prepares to remove illegal Amazon gold miners from Munduruku land
Anglo American sells Australian coal JV stake for $1.1 billion
Solidcore to buy 55% stake in Kazakhstan’s Syrymbet tin deposit for $82.5m
Ecuador to reopen mining register for first time in over six years