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 emphasized the importance of developing cooperation with Iran in the areas of trade, investment, transportation, and services.

According to Iraqi News Agency, Ministry spokesman Mohammed Hanoun stated in a statement that 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 stressed the importance of developing cooperation in the fields of trade, investment, transport and services, and facilitating the smooth flow of goods across border crossings, as well as enhancing the role of the private sector in establishing joint economic projects and partnerships. He noted that Iraq is keen to continue its trade openness with all neighboring countries, especially the Islamic Republic of Iran, in accordance with common 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.