Iran: Our trade capacity with Iraq has reached $20 billion[You must be registered and logged in to see this link.] |Today[You must be registered and logged in to see this image.]
Baghdad today - follow-up
Farzad Belten, Iran's Special Trade Representative in Iraq, confirmed today, Monday (November 27, 2023), that during the first six months of this year, about $4.5 billion in goods were exported from Iran to Iraq, and about $150 million were imported from Goods to Iran from the aforementioned country .
The former Director General of West Asia of the Iranian Trade Development Organization mentioned the trade capacity of the two countries. The ability to increase trade relations between the two countries, including the export of goods, services, electricity and gas, is estimated at about 20 billion dollars .
According to Belten, Iran's main competitors in Iraqi markets are China and Turkey .
Belten said that there is a possibility of establishing free trade or preferential tariffs with Iraq, considering that trade between Iran and Iraq is one-way and mainly includes exports from Iran to Iraq. Despite various endeavors over the past years, the Iraqi government does not wish to negotiate and sign Agreement in any of the aforementioned areas .
Accordingly, he added, increasing imports from Iraq and forming a trade balance between the two sides could provide the conditions for signing such agreements in the future .
Regarding the main obstacles and problems in developing trade with Iraq, Belten stated that given the growing needs of Iraqi markets, as well as the appropriate level of quality and competitiveness of Iranian products in this market, cultural, linguistic and multicultural diversity, ethnic commonalities and geographical proximity between the two countries, the most important obstacles appear to be The problems include a lack of attention to the importance of this market and the lack of long-term and professional planning for Iranian companies for a direct and stable presence in this country’s market .
The Iranian Special Trade Representative in Iraq said: “Of course there are problems related to trade infrastructure such as one-way transportation of goods, clearance of goods at border ports, standards, etc., and if they are resolved, it will be possible to develop trade relations between the two countries.”
Source: Mehr Agency