Iraq and Iran might hit a 20 billion dollar commercial exchange target, Iranian official says

Shafaq News/ The volume of commercial exchange between Iraq and Iran soared by 17% since the beginning of the Iranian financial year (March 21), the chair of the Iranian-Iraqi trade chamber, Yehya Al Ishaq, said on Tuesday.

Fars News Agency quoted Al Ishaq saying, "Iran has a 20 billion dollar commercial agreement with Iraq. It is not unlikely that we reach [this target] soon."

In January 2021, the Iranian and Iraqi Presidents agreed to raise the target of commercial exchange between both countries to 20 billion dollars, according to IRNA. 

"So far, the commercial exchange sensed the limits of 13 to 14 billion dollars. It grew 17% this year," he said, "Iraq ranks second after China in terms of commercial exchange volume." 

The Iranian official's remarks came during a meeting he held with a delegation from the Iraqi governorate of al-Sulaymaniyah. 

Al Ishaq commended Kirkuk's pivotal economic role, deeming it "Iraq's heart" and Iran's "link with Iraq and Syria."