News ID: 111687
Published: 0740 GMT February 14, 2015

Iran-Iraq trade at $5.11b

Iran-Iraq trade at $5.11b

Trade between Iran and Iraq currently amounts to $5.11 billion per annum, said the head of the Trade Promotion Organization on Saturday.

Valiollah Afkhami-Rad noted despite the common belief that trade with Baghdad is complicated and difficult due to a number of obstacles, the significant presence of some countries such as Turkey in Iraqi market proves that the overall situation of the country is not very critical, IRNA reported.

Iran is to hold three exhibitions in Iraq, Qatar and Afghanistan in the current week which are expected to play an important role in expansion of Iran's trade relations with neighboring countries.

He put the current amount of annual trade transactions with Kabul at $2.37 billion.

Afkhami-Rad noted Iran's non-oil exports, including gas condensates, reached $42.6 billion during March 21, 2014-January 20, 2015, indicating a 24.2-percent growth compared with the figure for the corresponding period the previous year which was $34.29 billion.

He added in this period, Iran imported $43.7 billion worth of products, showing a 15.4-percent increase year-on-year.

The figure for the same duration the previous year amounted to $37.86 billion.

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