Iraq Emerges as Iran’s Top Export Destination

Iraq has emerged as Iran’s top export destination in the current Iranian year, an official announced.

The director of the export bureau of Iran’s Customs Office, Ali Akbar Shadmani, said the value of the country’s exports since the beginning of the current Iranian year (21^st March 2018) has surpassed US$30 billion, with Iraq being the top export destination.

He said the value of exports has risen by 12.5 percent compared to the corresponding period last year.

Iraq has imported 21 percent of the Iranian commodities this year in terms of value, worth US$6.607 billion, he noted.

The main goods exported to Iraq include natural gas, steel bars, oils and bitumen, home appliances, and agricultural products, the official added.

President of Iraq Barham Salih visited Tehran on the 17^th November with a ranking delegation for a series of political and economic talks.

After high-profile talks between the Iranian and Iraqi delegations, Iranian President Hassan Rouhani said the two neighbours can increase their annual trade from the current US$12 billion to US$20 billion.

President Rouhani also noted that the two sides discussed ways for cooperation in the energy, power and oil industry, including the extraction of petroleum, and a plan to connect the two countries’ railroad networks

Source: Iraq Business News