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Iranian Oil Minister: We must focus on strengthening our position in the Iraqi economy
15:08 - 26/08/2017
Iran's oil minister, Bijan Namdar Zangana, stressed on Saturday the need to strengthen the country's position in the Iraqi economy, which is worth billions of dollars.
"Iran must seize the opportunity to strengthen its position in the Iraqi economy, whose exports to Iraq are billions of dollars," Zankana was quoted as saying by Iran's Financial Times newspaper.
"The oil-rich province of Khuzestan, which shares the border with the southern city of Basra, has played a major role in Iranian exports to Iraq, but there is plenty of room for growth," he said.
"There are some issues in exports to Iraq, but they can be addressed through new investments," he said.
"The absence of a large Iraqi market will be a serious blow to the economy of Khuzestan province and the current situation in Iraq will take years before the country can meet the demands of its main needs," Zankana said.
Iran supplies Iraq with electricity and natural gas, with exports expected to generate at least $ 4 billion in revenue each year as it will cut power cuts across Iraq's main cities, sparking public protests against the central government in Baghdad. Ending / 25 z
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15:08 - 26/08/2017
Iran's oil minister, Bijan Namdar Zangana, stressed on Saturday the need to strengthen the country's position in the Iraqi economy, which is worth billions of dollars.
"Iran must seize the opportunity to strengthen its position in the Iraqi economy, whose exports to Iraq are billions of dollars," Zankana was quoted as saying by Iran's Financial Times newspaper.
"The oil-rich province of Khuzestan, which shares the border with the southern city of Basra, has played a major role in Iranian exports to Iraq, but there is plenty of room for growth," he said.
"There are some issues in exports to Iraq, but they can be addressed through new investments," he said.
"The absence of a large Iraqi market will be a serious blow to the economy of Khuzestan province and the current situation in Iraq will take years before the country can meet the demands of its main needs," Zankana said.
Iran supplies Iraq with electricity and natural gas, with exports expected to generate at least $ 4 billion in revenue each year as it will cut power cuts across Iraq's main cities, sparking public protests against the central government in Baghdad. Ending / 25 z
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