Head of the Iran-Iraq Joint Chamber of Commerce Yahya Al-e Eshaq announced on Tuesday that the country has exported $9bln worth of goods and services to Iraq in the first 9 months of the current Iranian year (started on March 21).
Date :2/1/2020
"Although the recent situation (unrests in Iraq) has left some impacts on trade between the two countries and our exports to Southern Iraq has decreased, Iran's exports to the Iraqi Kurdistan region has increased," Al-e Eshaq told FNA.
"We have exported $9bln worth of commodities and services to Iraq in the first 9 months of the current year and it will certainly increase by the yearend," he added.
Iran exported some $13 billion worth of goods and services to neighboring Iraq in the last local calendar year (March 21, 2018-March 20, 2019), which marked a 37% increase in a year-on-year comparison.
Al-e Eshaq said in July that the value of the Iranian export to Iraq increased by 37 percent in the 12-month period.
He said a major part of Iran’s export to Iraq has been technical and engineering services offered to the Arab country by companies from the Iranian private sector.
Al-e Eshaq said Iranian contractors had been awarded more than $4 billion worth of projects in construction and industry sectors in Iraq, adding that more than half of those contracts were being executed.
He said the value of Iran’s exports to Iraq could meet a target of $20 billion in the near future, insisting that there were “some extraordinary areas for cooperation” between the two neighboring countries.