NEWS
ECONOMY   Tiles & Ceramics  

Iran, Iraq in Talks to Ink Currency Swap Deal: Official

Chairman of Iran-Iraq Chamber of Commerce Yahya Ale-Ishaq said the two countries are in negotiations to finalize a currency swap agreement in a bid to boost trade ties between the two neighboring countries.

In remarks released on Sunday, Ale-Ishaq described Iraq as a lucrative market for Iranian goods and said over the past seven months, Iranian exports to the Arab country have increased by 30 percent.

In the mentioned period, about $6 billion worth of goods have been exported from Iran to Iraq, he added.   

He further stressed the necessity to finalize a monetary pact between Tehran and Baghdad and said the central banks of the two countries have held talks to sign a currency swap deal.

Iran and Iraq enjoy cordial political, security and cultural ties but due to some internal and regional problems including Daesh (also known as ISIS or ISIL) terrorism in Iraq, they had not been able to increase their trade volume over the past years.

Iran’s main exports to the neighboring country include agro products, foodstuff and fruits such as watermelon, tomato and cucumber, which account for 37% of the total exports.

Other Iranian exports to Iraq include canned food, tomato paste, chicken, egg, meat, construction materials (mainly rebar, tiles and ceramics), steel and evaporative cooler.

News No: 2648
Date: 2018/11/18 - 18:51
News Source: Tasnim News Agency

Iraq  Currency Swap  Yahya Ale Ishaq 

Comments:

Leave a Comment:

   
   
   
 

Iran has capacity for $31b of exports to 3 neighbors: official

The Chairman of Iran-Iraq Chamber of Commerce said on Tuesday Iran has the capacity to export $31 billion worth of products to the neighboring countries of Iraq, Afghanistan, and Pakistan.
 

Long joint border a privilege for Iran, Iraqi Kurdistan to expand trade

Having over 500 kilometers of shared borders, Iran and Iraqi Kurdistan can use this capacity to expand their trade relations, Iran's Commercial Attaché in Iraq Naser Behzad said on the sidelines of an exclusive exhibition of Iranian products in Iraqi Kurdistan region’s Sulaymaniyah.
 

KLM to Resume Flights via Iran, Iraq Routes

Dutch flag carrier, the KLM, announced that it will resume its flights through the Iranian and Iraqi airspace following an interim halt that was caused by soaring military tensions in the Middle East region.
 

Iraq to Award Gas Exploration Contracts

As it struggles with its energy needs, Iraq is set to hold a fifth bidding round for exploration and development of natural gas fields in an eastern province of the country.
 

US will not respond militarily to Iran strikes

Washington will not retaliate militarily after an Iranian missile attack on US military bases in Iraq, President Donald Trump said today.
 

Oil Hits $70

Oil prices rose a further 2% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a US air strike which martyred a top Iranian military commander in Iraq.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners