“Statistical figures of Iran’s exports to Iraq in the first five months are positive and they show a 13-percent growth in terms of value and 66-percent growth in terms of weight,” Secretary-General of Iran-Iraq Joint Economic Commission Hamid Hosseini told Fars News Agency on Sunday.
He added that the volume of Iran’s exports to Iraq also stood at 10 million tons.
Iran exported some $13 billion worth of goods and services to neighboring Iraq in the last Iranian year (March 21, 2018-March 20, 2019.
Yahya Al-e Es’haq, who heads the Iran-Iraq Chamber of Commerce, said in July that the value of Iranian exports to Iraq increased by 37 percent in the 12-month period.
He said a major part of Iran’s exports to Iraq was techno-engineering services offered to the Arab country by companies from the Iranian private sector.
Al-e Es’haq said Iranian contractors had been awarded more than $4 billion worth of projects in construction and industry sectors in Iraq, adding that more than half of those contracts were being executed.
The comments came hours after Iraq announced that it had launched its own financial mechanism to settle payments with Iran amid unprecedented sanctions imposed by the United States on Tehran’s trade and banking activities.