May 29, 2023

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Iran’s annual export to Iraq increases 15%

TEHRAN- The value of Iran’s export to Iraq increased by 15 percent in the past Iranian calendar year 1401 (ended on March 20), an official with Iran’s Trade Promotion Organization (TPO) announced.

Farzad Piltan, the director-general of TPO’s Office of West Asian Countries, said that based on the data released by the Islamic Republic of Iran Customs Administration (IRICA), Iran exported commodities worth over $10 billion to its neighbor in the previous year.

By stating that Iraq is one of the strategic partners of Iran in the field of foreign trade and especially exports, he put the value of Iran’s import from Iraq at about $200 million in the past year.

Considering Iran’s vast export capacity and Iraq’s large market for Iranian goods, both sides want to expand the volume of bilateral economic exchanges.

Iran and Iraq have set a target of $20 billion in annual trade, and businessmen and authorities of both countries are determined to meet that target, Head of the Iran-Iraq Joint Chamber of Commerce Yahya Ale-Es’haq has stated.

According to the official, Iran and Iraq have had the experience of reaching $14 billion in annual trade in previous years.

The current administration of Iran under President Raisi has shown great interest in broadening and enhancing trade and economic ties with neighboring states, Ale Es’haq has emphasized. 


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