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                                        Volume. 11944

‘Iranian firms should actively participate in implementing development projects in Iraq’
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c_330_235_16777215_0_http___172.19.100.100_images_stories_famous_04_qasemi.jpgTEHRAN – Iranian firms should actively participate in the implementation of development projects in Iraq, the chairman of Iran-Iraq economic development headquarters stated.
 
Rostam Qasemi added that Iranian companies should boost presence in Iraq through implementing road and dam building, housing, industrial, as well as technical and engineering projects, the Fars News Agency reported on Monday.
 
The year 2013 registered high levels of commercial exchange between Iraq and Iran, which reached — according to both Iraqi and Iranian officials — more than $12 billion. This comes at a time when the Iraqi government aspires to increase trade between the two, with a goal of $15 billion, according to a report published by Al-Monitor in December 2013. 
 
Avisor to the Iraqi Prime Minister for Economic Affairs Abdul Hussein al-Anbaki said that the most common goods imported from Iran to Iraq are canned food — including canned cheese and dairy products — as well as soft drinks, meats, vegetable oil, household items and electrical appliances. 
 
He noted that Iran has had an important weight in economic transactions with Iraq, notably since 2003, and pointed to the ease of commercial exchange between the two countries in terms of transportation and quality of goods, among other factors. Thus, according to Musawi, it is only normal for the two countries' commercial exchanges to increase.
 
For his part, the head of the Commerce Department in the Iranian Embassy in Baghdad, Mahmoud Bahzar, told Al-Monitor that Iran hopes to have $20 billion worth of commercial exchanges with Iraq by the end of 2017, saying, “According to our market observations, commercial exchange reached $10-13 billion by the end of November 2013.” He noted that the increase would come in the form of investments in the gas and electricity sector. 
 
Iran is currently exporting 24 billion cubic meters of gas to Iraq annually. Iraq also imports 400 megawatts of power from Iran.
 
The Iranian Trade Development Organization announced in June 2013 that Iraq is the biggest importer of Iranian goods, affirming that 72% of Iran’s exports go to Iraq. It also noted the Iraqi imports of Iranian goods have increased by 15.7% in comparison to last year.

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Last Updated on 10 March 2014 17:38