May 13, 2014, 12:02 PM
News Code: 2695296
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Minister: Iran-Iraq trade to reach $20bn

Tehran, May 13, IRNA – Minsiter of Economy and Finance Ali Tayebnia said on Tuesday that Iran-Iraq trade volume will reach as high as $20 billion in value by the next three years from present $ 12 billion.

In a meeting with Iraqi Deputy Prime Minister Nouri Shavis in Tehran on Tuesday on the sidelines of inking a bilateral protocol for economic and investment cooperation, Tayebnia said Iran-Iraq trade volume was more than six billion dollars in 2013.

He said in the joint meetings, Iran and Iraq discussed banking and customs relations.

Shavis for his part said extensive talks were held by the two parties on cooperation in the areas of banking, standardization and double-tax exemption as well as support for investment.

He said memorandums of understanding will also be signed for cooperation in various economic domains.