TEHRAN- The value of Iranian exports to Iraq has increased by 15 percent in the first eight months of the current Iranian calendar year (March 21-November 21), compared to the same period last year, said the secretary general of Iran-Iraq Joint Chamber of Commerce Announcement.

Referring to the growth in oil revenues, Hamid Hosseini said: “The value of Iranian exports to Iraq in the first eight months of this year increased by $ 800 million to stand at $ 6.1 billion. dollars, and that export trend increased during the second half of the year. “

Meanwhile, the chairman of the Iran-Iraq Joint Chamber of Commerce said Iran plans to increase its annual trade with neighboring Iraq to $ 20 billion.

Yahya Al-e Eshagh made the remarks during a business forum between Iran and the Iraqi province of Kirkuk earlier this month, saying that the Iranian and Iraqi governments are determined to develop regional cooperation in all fields. .

“Despite all the events happening in the region, relations between the two countries, Iran and Iraq, are on an upward trajectory,” the official said.

Iran’s current administration under President Raisi has shown great interest in expanding and strengthening trade and economic ties with neighboring states, he said.

Elsewhere in his remarks, the chairman of the Iran-Iraq Joint Chamber of Commerce pointed out that the country forecasts $ 20 billion in trade with Iraq and estimated the current trade volume of trade between the two countries at around 13 to $ 14 billion.

Iran and Iraq signed a memorandum of understanding on economic cooperation in January, following the fourth meeting of the two countries’ joint economic committee.

During the committee meeting, technical committees were formed in various fields of activity to discuss technical and engineering services and other topics of interest. The meeting also proposed and supported the establishment of a common investment fund between the two countries and hopes to continue its momentum.

Good agreements have also been made to review the establishment of a shipping lane and increase the number of Iraqi planes passing over Iran.

MOM