Iranian Minister proposes to establish a joint investment fund with Iraq

Shafaq News / The Iranian Energy Minister, Reza Ardakanian, proposed to establish a joint fund with Iraq for the export of technical and engineering services, according to Fars news agency.

The agency quoted the Minister saying during the commercial meeting within the framework of the joint Iranian-Iraqi Economic Committee held in Tehran today, that Iran is ready to establish a joint investment fund with Iraq in the mentioned field. 

He indicated that the fund would assist the private sector from both countries in implementing projects.

On the other hand, Ardakanian stressed that Iran is ready to activate the agreements concluded with Iraq and concluding other agreements to develop inter-cooperation.

The Minister pointed out that Tehran and Baghdad seek to achieve a level of trade exchange that reaches more than 20 billion dollars annually, emphasizing the need to lift customs, monetary, banking, shipping, and transport restrictions and clear the way for the private sector to participate in the process.