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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iran: Iraq is one of the richest countries in the Middle East

    Rocky
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    • Post n°1

    Iran: Iraq is one of the richest countries in the Middle East Empty Iran: Iraq is one of the richest countries in the Middle East

    Post by Rocky Fri 31 May 2024, 4:58 am

    [size=38]Iran: Iraq is one of the richest countries in the Middle East[/size]


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    May 30, 2024[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala Al-Hadath: The head of the Department of Land Development and Regional Development at the Iranian Planning and Budgeting Organization, Jaafar Hosseini, announced the export of 2,200 Iranian goods to Iraq, amounting to about 12 billion dollars, while noting that Iraq is one of the richest countries in the Middle East.
    On Monday, a meeting was held entitled “Discussing the opportunities and challenges of attracting Iraqi investors and enhancing bilateral trade relations in line with Iran’s position in regional value chains,” in the presence of representatives of the Ministry of Foreign Affairs, the Iranian Investment and Economic and Technical Assistance Organization, the Iranian Trade Development Organization, and the Iranian Chamber of Commerce, Industry, Mines and Agriculture. The meeting included representatives of the two countries' foreign ministries, the Iranian Investment and Economic and Technical Assistance Organization, the Iranian Trade Development Organization and the Iranian Chamber of Commerce, Industry, Mines and Agriculture.
    Jaafar Hosseini said in press statements: Since we are at the beginning of the Seventh Plan, and with the aim of financing this plan, attracting local private sector funds and foreign investments, especially from neighboring countries, has been included on the agenda.
    He added: Iraq is considered one of the richest countries in the Middle East, in that it possesses 85 billion dollars in foreign exchange reserves, 130 tons of gold reserves and 147 billion reserves, confirmed from a barrel of crude oil (ranked fourth in the world), explaining that it achieved from selling crude oil an income equivalent to $76 billion in 2021, and $120 billion in 2022.
    He explained that, with the establishment of relative stability in Iraq and the development of cooperation and trade infrastructure between the two countries over the past twenty years, Iranian exports to Iraq have grown significantly to achieve 15-fold, rising from about 600 million dollars in 2003 to more than 10 billion dollars in the year. the past.
    He stated that out of 3,500 Iranian goods exported to the world, there are currently more than 2,200 goods currently exported to Iraq, pointing out that more than half of Iranian traders active in global markets are present in the Iraqi market, and Iranian exports to Iraq are not limited to goods only, but go beyond This includes technical and engineering services and electricity, which are other important elements of Iranian exports to Iraq, which amounted to about 12 billion dollars.
    Referring to the strengthening of trade and economic relations between Iran and Iraq, Hosseini stressed the need to strengthen the commercial infrastructure of Kermanshah Province as it is the most important route and corridor for Iran’s exports to Iraq, adding that it is necessary to develop the commercial infrastructure in order to facilitate and simplify trade between the two countries, and to educate and encourage merchants to Investing in Iraq, developing business by sending and receiving business delegations, participating in exhibitions in both countries, establishing Iranian business centers in Iraqi cities, and enhancing the trade balance by developing imports from Iraq.
    Hosseini said that despite the large oil income that Iraq has achieved in recent years, the unemployment rate in this country is very high, especially among young people, and he indicates that consumer industries are very important for this country in order to create job opportunities and attract foreign capital.
    Hosseini touched on the important and priority activities of Iran in Iraq, including: compensating part of the trade surplus surplus with Iraq by importing oil from this country and exporting it from the port of Jask, and assisting in the presence of Iranian companies in the field of distributing petroleum products, especially in downstream and upstream activities, and establishing A complex network at the retail level in order to help provide job opportunities for Iraqi youth, and also develop platforms related to the distribution of goods and services or transportation within cities to help the employment situation, especially for educated youth.
    He added: In addition, establishing joint border industrial cities with the aim of transferring part of the value chain of industries used in the fields of food industries or textile industries to Iraq, taking into account the possibility of re-exporting from this country, and also establishing a trade corridor to import food products from Central Asia. Russia and export local products from the western borders.
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