News ID: 219281
Published: 0254 GMT August 03, 2018

Export to Iraq grew 25% during March-July, despite customs tariff hikes

Export to Iraq grew 25% during March-July, despite customs tariff hikes

Iran's exports to Iraq grew 25 percent during March 21-July 22 despite the increase in tariffs set by the Iraqi government on foreign purchases, said the secretary general of Iran-Iraq Joint Chamber of Commerce, Industries, Mines and Agriculture.

Hamid Hosseini told IRNA that the imposition of new customs tariffs on Iraqi imports failed to pose a major obstacle to Iran's export trend from western borders. "The two countries' trade transactions are proceeding as usual."

He added during the four-month period, Iran's exports to Iraq, excluding electricity and gas, stood at $2.58 billion compared to $2.05 billion for the same period last year.

He listed other obstacles halting Iran's exports to Iraq during the same period as the Norouz holidays — starting each year in late March to celebrate the arrival of new Iranian year, the holy month of Ramadan and the 10-day strike by Iranian truck owners a few weeks ago. Nevertheless, he pointed out, they all failed to decrease the value of overseas sales of Iranian goods to it western neighbor.

Commenting on the Iraqi government's latest import tariffs, Hossieni said some of them do not impact Iran's exports.

He listed some of the import items on which tariffs have been imposed as suit, schoolbooks and diesel generators.

Earlier, Naser Behzad, Iran's commercial attaché to Iraq, told IRNA that the growing trend reflected by customs tariffs set by the Iraqi government was initiated months ago and will continue in full force.

He said the reason for imposing the tariffs was the adoption of a new policy by the country to raise and support domestic production, adding this calls for Iranian economic actors to mull investing in Iran's western neighbor rather than simply selling products.

Behzad noted that the Iraqi government has put 72 new products on the list of import items on which it intends to impose tariffs.

According to figures by Trade Promotion Organization of Iran, trade between Iran and Iraq stood at $6.5 billion, of which only $77 million pertained to Iraqi exports to Iran.

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