Iran aims to increase its commercial presence in Iraq, and Iran-Iraqi Joint Chamber of Commerce Chairman Yahya al-Ishag said it has set a three-year goal of increasing bilateral trade to $20 billion, Mehr News Agency reported.
He said that the goods exchanged between the two neighboring countries in the past Iranian calendar year (ending March 20, 2025) amounted to about $12 billion, and that proportion is expected to increase in the current Iranian calendar year (starting March 21, 2025).
Iran and Iraq have high potential to expand bilateral trade, Al-I-Eshag stressed.
This expansion is driven by Iran’s ability to supply a wide range of consumer goods, food, and industrial materials.
He stressed that Iraq, with a population of about 50 million people, has close cultural and political ties to Iran, and has long been one of Tehran’s most accessible export destinations.
He noted that the long-term goal of $20 billion is achievable under existing bilateral agreements.
He said Iran currently supplies Iraq with a wide range of goods, including construction materials, detergents, food, engineering services, fruits and agricultural products, medical and leisure tourism services, adding that Iran currently controls about 20% of Iraq’s consumer market.
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