16 February 2019 - 13:08

Iran's Exports to Iraq Hit 9 Billion Dollars

The head of Iran Export Confederation reported that the trade volume between Iran and Iraq rose to 9 billion USD.
News ID : 97131
ایران و عراق

Regarding the Governor of Central Bank of Iran Abdolnaser Hemmati's trip to Iraq and establishing a joint bank between two countries, Mohammad Lahouti said those countries have high trade volume with each other use this tool. 

The head of Iran Export Confederation pointed to Iran-Venezuela and Iran-Europe joint banks, stating joint banks could facilitate money transfers and since Iran-Iraq's trade volume has reached 9 billion dollars, establishing a joint bank with Iraq is a significant issue.

The official went on to say that out of Iran's total exports, between 20 to 25 percent is shipped to Iraq and if the current trend continues, there is a possibility of increasing the figure.

Lahouti reiterated that having normal banking relations, creating joint markets and trading in national currencies can enhance trade relations level and also facilitate trade between Iran and Iraq.

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