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Economy News - Baghdad
The head of the Iranian-Iraqi Joint Chamber of Commerce, Yahya Al-Ishaq, revealed the details of the economic talks and agreements between Tehran and Baghdad during the recent visit of Prime Minister Mohammed Shia Al-Sudani to Tehran.
In an interview with the "Ilna" news agency, Al-Ishaq considered that Al-Sudani's recent visit to Iran was fruitful, as "the Iranian-Iraqi negotiations were followed up in nine general axes, six of which are related to political and security affairs, and three of them concerned the economic and commercial sector."
Referring to the agreements reached regarding the continuation of gas exports to Iraq, he said: "We signed general agreements regarding the amount of gas exports, the method and terms of payment." He added, "Negotiations on cooperation with the joint oil and gas fields between Iran and Iraq have also been completed, as he decided to continue this cooperation."
He continued, "Cooperation was discussed in the fields of transit, industry, bank guarantees, and trade, as it is assumed that the proposals put forward by the committees will be followed up."
Al-Ishaq explained that the two sides agreed that trade between the two countries would reach $20 billion: "Achieving this figure in the trade of the two countries is not far from what is expected and reaching it is almost certain, as it was agreed to solve the current problems, which we hope will bear fruit."
According to this official, among the problems facing the field of exporting technical and engineering services to Iraq is the presence of Iranian contracting companies in Iraq. He suggested that the Iranian Ministry of Economy issue guarantees to Iranian contractors, since the general principles of this plan were accepted in Iraq.
On resolving the current trade issues between the two countries, Al-Ishaq said: “The Supreme Council for Economic Relations is scheduled to be formed, headed by the First Vice President and the Iraqi Prime Minister. The chairmanship of the joint committee was also given to the Iranian Minister of Economy, Ehsan Khandozi, and it was decided that the joint committee would hold a meeting every six months. He decided that this committee would hold a meeting by the end of the year, and he emphasized: “At the same time, water issues were discussed in general between the two sides.”
On the other hand, the head of the Iranian-Iraqi Joint Chamber said: "The Iranians were able to obtain construction projects in Iraq despite the difficulties they faced. It seems that Iranian and Iraqi banking officials will reach an agreement in this regard, and this is recommended and not far from expected."
"If the central government finally approves this plan, this issue will also be brought up in the field of climate and will be systematically implemented there as well," he added.
In response to the question, should a specific agreement be followed on the type of currency for commercial transactions between merchants of the two countries? Al-Ishaq said, "This is an issue that must be decided in the Iranian Parliament."
Added 12/02/2022 - 12:19 PM
Updated 12/02/2022 - 2:39 PM
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