Baghdad: The Ministry of Trade affirmed on Thursday its continued coordination with Iran in the coming period to translate existing understandings and agreements into practical steps and tangible economic projects. The ministry stressed the importance of developing cooperation with Iran in the areas of trade, investment, transportation, and services.
According to National Iraqi News Agency, Ministry spokesman Mohammed Hanoun stated in a press release: “The visit of the Speaker of the Iranian Islamic Consultative Assembly, Mohammad Bagher Ghalibaf, to Iraq represents an important opportunity to strengthen economic and trade relations between the two countries and to continue joint efforts to develop cooperation prospects in a way that achieves mutual interests.”
He added that “trade relations between Iraq and Iran are based on important economic and geographical ties,” explaining that “the next phase requires moving to a more organized and sustainable level of economic cooperation by activating the agreements and memoranda of understanding signed between the two countries and addressing the challenges facing trade and investment.”
Hanoun emphasized “the importance of developing cooperation in the fields of trade, investment, transportation, and services, and facilitating the smooth flow of goods across border crossings, as well as strengthening the role of the private sector in establishing joint economic projects and partnerships.” He noted that “Iraq is keen to maintain its open trade relations with all neighboring countries, especially the Islamic Republic of Iran, in accordance with shared interests and applicable laws and regulations, and in a way that contributes to supporting the national economy, enhancing market stability, and providing goods for citizens.”
He explained that “the stability of regional trade and transportation routes represents a shared interest for Iraq and the countries of the region,” stressing that “Iraq attaches great importance to ensuring the smooth flow of international trade and protecting its economic interests, particularly with regard to oil exports and the movement of goods through international waterways.”
He pointed out that “the next phase will witness continued coordination with the Iranian side through governmental channels and joint economic committees, with the aim of translating existing understandings and agreements into practical steps and tangible economic projects, thereby raising the level of trade exchange, strengthening joint investments, and serving the interests of the Iraqi and Iranian peoples.”