Iran Strengthens Trade Links

Reuters quotes the Iranian Consul to Basra as saying that Iran hopes to double trade with Iraq to $8 billion this year, mostly in the construction, food and industrial sectors. Meanwhile, 60 companies participated in an exhibition of Iranian trade and industry in Basra City.

The consul also told Aswat al-Iraq that, “Iran is working to open a bank in Basra as a step toward the development of commercial and economic [ties] between Iran and Basra”.

In Diwaniya, Chairman of the council signed a number of initial agreements with Iranian companies on Monday, saying, “The Iranian companies have allocated $ 10 billion to implement a number of investment projects throughout Iraq, … [including] cement factory and oil refineries”.

Further north, a delegation of Iranian businessmen met with officials of the Kurdish Region to discuss to opening of a free trade zone along the border.

(Source: Reuters, Aswat Al Iraq, Iraq Directory, Iran Daily)

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