News ID: 255892
Published: 0337 GMT July 16, 2019

Iran to earn $5b by March from energy exports to Iraq

Iran to earn $5b by March from energy exports to Iraq

Tehran will raise $5 billion revenues for its gas and electricity exports to neighboring Iraq by the end of the current Iranian year (March 20, 2020), said the Secretary General of the Iran-Iraq Joint Chamber of Commerce Seyyed Hamid Hosseini on Tuesday.

Iran’s technical and engineering projects, which were stopped in Iraq due to terrorist activities, have resumed, Hosseini added, reported Fars News Agency.

“In the wake of expert-level sessions held between the Iraqi Housing Ministry and Iran’s Small Industries and Industrial Parks Organization (ISIPO), it is stipulated that the Iranian projects halted in Iraq would resume,” he said.

Accordingly, some of these projects have been relaunched and other projects, mainly technical and engineering projects, will start activity soon, Hosseini highlighted.

Meanwhile, new projects will be commissioned in neighboring Iraq by year-end.

Presently, projects such as sports stadium, water and sewage projects and housing projects, which had been stopped in Iraq due to the presence of Daesh terrorists, will restart their work, he said.

Elsewhere in his remarks, Hosseini pointed to organizing the Iran-Iraq Joint Economic Forum and added, “This Forum will be held on July 21-22 in the Iraqi capital of Baghdad in the presence of relevant officials and organizations.”

Earlier, various issues such as the construction of industrial parks, transit of goods and development of railways had been discussed between the two countries, he said, adding, “These issues will be reviewed in this joint commission.”

Iran exports non-oil commodities such as cement as well as gas and electricity to Iraq. In the year from March 2018 to March 2019, Iran exported close to $9 billion of products to Iraq, registering a 37 percent growth compared to the preceding year.

The two countries’ officials have set the target of $20 billion per year for Iran-Iraq trade.

 

   
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