News ID: 323296
Published: 0322 GMT August 02, 2022

Iran’s four-month exports to Iraq near $2.4b

Iran’s four-month exports to Iraq near $2.4b

Iran exported non-oil products valued at $2.398 billion to Iraq in the first four months of the current Iranian year (March 21-July 22), according to the data released by the Islamic Republic of Iran Customs Administration (IRICA).

Based on the IRICA data, Iraq was Iran’s second main export destination in the four-month period, IRNA reported.

Increasing non-oil exports to the neighboring countries is one of the major plans that the Iranian government has been pursuing in recent years.

The value of Iran’s exports to Iraq rose 20 percent during the previous Iranian year 1400 (ended on March 20) as compared to the preceding year.

Iran exported $8.916 billion worth of commodities to its neighbor in the past Iranian year, making Iraq the Islamic Republic’s second-biggest trade partner.

Exports to Iraq accounted for 18.3 percent of the country’s total non-oil shipments in the previous Iranian year.

As stated by the chairman of the Iran-Iraq Joint Chamber of Commerce, Iran is planning to boost its annual trade with neighboring Iraq to $20 billion.

Speaking in a business forum between Iran and Iraq’s Kirkuk Province last December, Yahya Al-e Es’haq said the Iranian and Iraqi governments are determined to develop regional cooperation in all areas.

“Despite all events that are happening in the region, the relationship between the two countries of Iran and Iraq are on the upward trajectory,” the official said.

The current administration of Iran under President Seyyed Ebrahim Raeisi has shown great interest in broadening and enhancing trade and economic ties with neighboring states, he emphasized.



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