Tehran and Baghdad have signed three new agreements on economic cooperation

Almaty. September 8. SIlkroadnews - Tehran and Baghdad have concluded three new agreements on bilateral cooperation in the economic field, reported he Iranian News Agency (IrTAG).
According to Minister of Economy and Finance of the Islamic Republic of Iran A.Tayebniya, signed agreements envisage strengthening of Iranian-Iraqi cooperation in the sphere of customs regulation and promotion of mutual investments, as well as the adoption of appropriate measures to avoid double taxation.
According to him, to date, the annual trade turnover between the neighbors, taking into account the transit of goods and tourism, reach $12 billion. Since 2013, Iraq is among the five largest trade partners of Iran.
He also expressed the hope that by means of new agreement, the parties will be able to increase this figure to $20 billion a year.
Iraq occupies a special place in the field of non-oil exports from Iran. The Islamic Republic is supplying to the Iraqi market various products of light industry, foodstuffs, consumer goods, building materials, electricity, etc.