Oct 16, 2018, 12:15 PM
News Code: 83067663
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Iraq to become Iran's 1st export destination

Tehran, Oct 16, IRNA – Iran's export to Iraq has been raised 45% in the first half of the Iranian year (starting on March 21), the secretary-general of the Iran-Iraq Joint Chamber of Commerce told the Islamic Republic News Agency (IRNA).

'While Iraq was the third biggest among Iran's export destination, it moved up to the second this year,' said Hameed Hosseini.

'Iraq's import from Iran was $4.5b, while that of China, the first rank on the list, was $4.6b. The wee difference implies that Iraq may surpass China to top the list.'

Hosseini also said that Iran has been the third importer from Iraq, after China and Turkey.

He added Iran's export grew 14% in the half-year time, the country's export to Iraq upped 45% in the period.

After the victory of the Iraqi forces against Daesh (ISIS), four, out of the six, million refugees have returned to their homes, which provides a great opportunity for Iran's presence in the food and construction materials in northern Iraq.

Referring to the US sanctions on Iran, he said that the only pressure the US can impose on Iraq is banking transactions with Iran. And that's because 45% of the biggest Iraqi bank is owned by US JPMorgan Chase.

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