Wednesday, March 02, 2005

Iran-Iraq transactions to hit dlrs 1bn this year

Iran-Iraq transactions to hit dlrs 1bn this year: "3/2/05
Iran-Iraq transactions to hit dlrs 1bn this year

Khorramshahr, March 2, IRNA -- Iranian Commerce Minister Mohammad Shariatmadari said on Wednesday that volume of Iran-Iraq transactions would reach one billion dollars this year.
Talking to reporters on the sidelines of the first exhibition and seminar on Iraq reconstruction, Shariatmadari said in the first 10 months of the year, export of goods to Iraq earned the country about dlrs 650 million.

Shariatmadari said that about dlrs 95 million worth of goods have also been imported from Iraq in the said period.

He added that Tehran is not satisfied with the volume of transactions, believing that there are high potential for expansion of cooperation in the economic related fields.

The minister said prospect of economic cooperation between Iran and Iraq is bright and promising, adding that transactions would ne made through formal channels rather than through joint border.

He hoped that with the new elected government of Iraq coming to power, a series of trade barriers, including transit problems, would be solved.

He said that Iran's electricity would be exported to Iraq via western province of Ilam.

He added that Abadan and Khorramshahr are the key points for trade with Iraq and they should be further activated."

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