Iran is aiming to achieve an annual trade volume of $20 billion with Iraq.
Farzad Piltan, who heads the West Asia Department at the Iranian Trade Promotion Organization (ITPO), announced on Tuesday that Tehran and Baghdad are in the process of developing various initiatives, which include the formation of a joint bank and a transportation firm, along with efforts towards establishing a free trade zone.
“The establishment of joint organizations, including joint banks … a free trade zone and … a transport company is on the agenda. We hope these steps will facilitate the development of trade,” Piltan was quoted as saying by the IRIB news agency.
Piltan revealed that Iran is aiming to achieve an annual trade volume of $20 billion with Iraq.
To accomplish this objective, the ITPO has made the decision to create new entities, including a “network of business centers.”
Source: Almayadeen