Speaking at a meeting titled “Reviewing Opportunities and Challenges of Attracting Iraqi Investors and Strengthening Trade Relations Between the Two Countries in Line with Demarcating Iran in the Regional Value Chain,” Hosseini highlighted Iraq’s substantial resources, including $85 billion in foreign exchange reserves, 130 tons of gold reserves, and 147 billion barrels of proven crude oil reserves, positioning it among the wealthiest countries in West Asia.
Hosseini noted that Iran’s exports to Iraq have increased significantly over the past two decades, growing 15-fold from about $600 million in 2003 to over $10 billion in the last year, ending on March 19, 2024.
Currently, Iran exports over 2,200 various types of goods and products to Iraq, he said, adding that more than half of the active Iranian traders are present in the Iraqi market.
Developing the trade infrastructures to facilitate trade between the two countries, encouraging traders to invest in Iraq, promoting trade through dispatching and admitting trade delegations and participating in exhibitions of the two countries, etc. are suggested to strengthen the trade and economic relations between Iran and Iraq, he underlined.
MNA