Iraq eager for joint investment with Iran in technical-engineering fields

August 23, 2020 - 13:36

TEHRAN- Iranian economic attaché in Basra said that Iraq is eager for joint investment with Iran in the technical and engineering fields, IRNA reported.

Abdul-Amir Rabihavi also mentioned agriculture as the other sector in which Iraq is willing to make joint investment with Iran.

He further called for changing Iran’s export strategy for more presence in the Iraqi market and to compete with the other exporters to Iraq.

The economic and political relations between Iran and Iraq have increased significantly in the past few years and the two neighbors are seeking ways to facilitate financial transactions and boost their trade ties.

The two countries have it on the agenda to increase the value of their bilateral trade to $20 billion by 2021.

The two sides have recently decided on the ways of implementing an agreement for using Iran’s export revenues in Iraq for importing basic goods from the country.

According to the Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati, under the framework of the mentioned agreement, Iran will use its gas and electricity export revenues which amount at several billion dollars a year in addition to CBI resources in Iraq, for importing its required goods from the country.


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