News ID: 202520
Published: 1207 GMT October 16, 2017

Iraqi envoy calls for establishment of joint bank with Iran

Iraqi envoy calls for establishment of joint bank with Iran

Iraq has called for setting up a joint Tehran-Baghdad bank to increase financial and economic exchanges between the two neighboring states, said the country's ambassador to Iran.

Rajeh Saber Aboud al-Moussavi further said at a trade forum in Tehran that bilateral economic and trade relations are not in line with the age-old and historic ties between Iran and Iraq and there are certain shortcomings, reported Fars News Agency.

He called for using national currencies in bilateral trade and waiving visa requirements for Iranian and Iraqi nationals.

"Most international plots in the region are focused on Iran and Iraq and we should take steps to further deepen all-out ties between the two countries," al-Moussavi said.

In relevant remarks in January, Iran's Deputy Industry, Mine and Trade Minister Mojtaba Khosrotaj described economic relations between Iran and Iraq over the past three years as satisfactory.

"Representatives of Iran in Iraq have had a laudable performance over past three years," Khosrotaj said.

He stated that Iran-Iraq relations were unparalleled, and annual trade turnover between the two countries stood between $6 billion to $6.5 billion.

"If technical and engineering services are included in calculations, the average value trade between Iran and Iraq would exceed $8 billion," he added.

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