Iran, Iraq set $5b target for annual trade

February 12, 2009 - 0:0

BAGHDAD – The first joint commercial commission of Iran and Iraq was held in Baghdad on Wednesday in which the two sides agreed on setting a $5 billion goal for annual trade.

Iranian Foreign Minister Manochehr Mottaki led a delegation of oil and banking officials to Iraq to discuss expanding bilateral trade ties with the Iraqi Commerce Minister Falah al-Sudani, according to the Mehr News Agency.
“The prospect of Iran-Iraq trade is promising,” Mottaki said adding, “Economy, health, housing and urban development were issues in the spotlight of the joint commission.”
In this meeting, the Iraqi official suggested that the two countries expand bilateral relations in specialized fields.
Mottaki’s delegation met also with the Iraqi Foreign Minister Hoshyar Zebari, said Iranian embassy spokesman Amir Arshadi.
Prime Minister Nouri al-Maliki has been making a major push to increase trade ties and attract investments from neighbors like Turkey and Iran as well as Europe. But investment is coming in only slowly and sporadically, even in key industries like oil