Iran's Ambassador to Iraq, Hassan Danaeifar, says Tehran plans to export $12 billion worth of goods to Iraq by the end the current Persian calendar year (ending March 20, 2013), up from around $11 billion last year.
"Iraq's free economy has created a competitive atmosphere for exporters from all over the world. Iranian cooperatives should therefore try to present their products and services in Iraq," he said.
Iran has eight border crossing points and six border markets with Iraq, and shares it highest trade volume with the Arab nation.
Iran and Iraq have been steadily enhancing ties since the overthrow of the executed Iraqi dictator Saddam Hussein in 2003.
Earlier in April, Iranian President Mahmoud Ahmadinejad (pictured) said in a meeting with Iraqi Prime Minister Nouri al-Maliki that there is no barrier to the development of political, economic and cultural relations between Iran and its western neighbour.