Bilateral trade between Iran and Iraq is on an upward trajectory and the two countries are seriously determined to boost the bilateral trade in the current year, Jahanbakhsh Sanjabi Shirazi stated.
Speaking in a meeting entitled “Interaction of Economy and Media, Role and Function of Media in Development of Economic Relations between Iran and Iraq, Future Prospects of Iran-Iraq Relations and Dimensions of Economic Diplomacy”, he emphasized that Iran’s export of non-oil goods to neighboring Iraq from March 21 to August 22, 2023 registered an 18.5 percent growth compared to the same period of last year.
Elsewhere in his remarks, he said the Iraqi government has considered an annual budget of more than $168 billion for the next two years, more than 70 percent of which is related to the development sector.
Hence, there is suitable ground for Iran to export more products to this neighboring state in the coming years, he underlined.
Iran, the United Arab Emirates (UAE), Turkey and China were Iraq’s major trade partners in 2021, Sanjabi Shirazi further noted.