Jun 3, 2021, 12:35 PM
Journalist ID: 1195
News Code: 84353949
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Iran has capacity to export $5b of technical services to Iraq

Tehran, June 3, IRNA – Iran-Iraq Chamber of Commerce Secretary-General said that a target of 20-billion-dollar trading between Iran and Iraq was not out of question, while the basis to realize 5 billion dollars through technical and engineering services export was ready.

Iran has a capacity to export 10 billion dollars of goods to Iraq and the basis was ready for 5 billion dollars of technical and engineering services exports, Hamid Hosseini said in an interview with IRNA on Thursday.

He underlined that the infrastructure and proper regulation was required for trading between Iran and Iraq in order to achieve the target.

Hosseini said that the Iran-Iraq trading saw 18 percent decrease in weight and 13 percent decrease in value in the last two months, while Iranian exports to other countries experienced a growth.

He linked the decrease to Iraq’s failure in paying its arrears on gas import from Iran and it would reverse course once Iraq’s debt are settled with the delivery of coronavirus vaccines instead of cash .

He also mentioned travel restrictions due to the coronavirus pandemic as a factor that prevents companies from signing of agreements and getting to know each other.

The trading official also suggested that Iran can allocate some part of its funds blocked in Iraq to the mutual investment fund to win a part of the country’s reconstruction projects.

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