Iran Exports to Iraq to Top $8bn

26 April 2010 – Reuters

Iran expects exports to Iraq will exceed $8 billion in 2010, up from $6 billion in 2009, boosted by equipment and materials for the war-damaged country’s reconstruction, an Iranian diplomat said.

Iran is Iraq’s main trading partner and has been one of the largest investors in Iraq since a US-led invasion ousted Saddam Hussein’s regime in 2003. Saddam led an eight-year war against Iran in the 1980s.

“Economic relations have grown since the fall of (Saddam’s) regime till today,” Ali Heidari, the trade attache at the Iranian embassy, told Reuters in an interview. “The volume of trade is 10 times more than it was in 2003.”   

Trade relations between the two countries have flourished despite the fact Iran is under US and UN sanctions because of its disputed nuclear programme.

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