Official Underlines Need for Iran’s Special Attention to Exports of Knowledge-Based Products to Iraq
“Iraq is considered as one of the target countries for the exports of various Iranian goods, and last year, Iran exported over $10bln worth of goods to Iraq, and the exports to Iraq grew by 18.5% in the first 5 months of the current year, compared to the same period last year, and if the exports conditions improve and develop, Iran's exports to Iraq will reach $10 to $12 billion,” Al-e Eshaq told ANA.
He referred to the 20-billion-dollar capacity of Iran-Iraq trade, and said, “The connection and coordination between science and production is a well-known issue in the world. However, due to the necessity of presence of the Iranian products in the world market, there is yet no such connection between the Iranian producers and the knowledge-based companies; therefore, we should pay special attention to the position of Iranian knowledge-based products in the Iraqi market.”
Noting that the Iraqi market will be the main market for Iran and other neighboring countries for the next 15 years, Al-e Es'haq said, “At present, Iraq supplies over 95% of infrastructure goods through imports, so this situation can be a great opportunity in the region for the neighboring states and the trans-regional powers.”
The value of Iran’s exports to Iraq rose 20 percent during the previous Iranian calendar year (ended on March 20) compared to the previous year.
Iran exported $8.916 billion worth of commodities to its neighbor in the mentioned year, making Iraq the Islamic Republic’s second-biggest trade partner.
Exports to Iraq accounted for 18.3 percent of the country’s total non-oil shipments last year.
Iran and Iraq signed a memorandum of understanding (MOU) on economic cooperation back in January 2021, at the end of the fourth meeting of the two countries’ Joint Economic Committee.
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