Iran intends to increase the volume of trade with Iraq to $25 billion a year

Almaty. February 23. Silkroadnews - Iran intends to increase the volume of trade with Iraq to $25 billion a year, transmits the Iranian News Agency (IrTAG).
As the head of the Trade Development IRI Waliullah Afhamirad, given the current level of relations between Iran and Iraq, the future of Iran's exports of engineering services to this country is very encouraging, and today the Iranian companies implement in Iraq a number of projects with a total cost of about $1 billion .
He noted that during the recent visit of Vice President of Iran Iskhaq Jahangir to Baghdad parties reached an agreement in the coming years to bring the volume of bilateral trade to $25 billion a year.
W.Afhamirad stressed that neighboring countries have great importance for Iran, but the very nature of economic activity naturally contributes to the development of relations with its neighbors, whose cooperation is of great economic benefit.
The head of trade promotion organizations pointed out that the export of local products are the determining factor in the size of transport costs and therefore should pay particular attention to the local market, which includes Iraq. The Iraqi market can be actively supplying heavy and bulky loads such as cement, wood and ceramic tile, etc.
W.Afhamirad recalled that at present the annual volume of Iranian exports to Iraq is $2.5 billion. According to him, this figure should reach $25 billion a year, because Iran has big opportunities for export of engineering services, and should actively cooperate with Iraq in the hydropower sector, in the field of industrial and road construction, transport, construction of hospitals and health centers, etc.
Taking into account the friendly relations between Iran and Iraq, it is also necessary to expand investment activity, both together and using only the Iranian capital, he added.