Head of the Iran-Iraq Joint Chamber of Commerce Yahya Al-e Eshaq praised the achievements made during Iranian President Hassan Rouhani's 3-day visit to Iraq, saying that the two states are setting the stage for boosting the mutual trade to 20bln dollars.
"The visit has produced good achievements in different economic, political, security, cultural, regional and international fields; 5 agreements have been signed in different political arenas," Al-e Eshaq told FNA on Wednesday.
He added that the volume of Iran's exports to Iraq will definitely increase to $12bln this year, noting that the two countries will endeavor to boost their trade volume to $20bln.
Al-e Eshaq referred to the endorsement of an agreement to establish 3 joint industrial-economic towns at the common borders of the two countries, and said that it will provide a good ground for joint investment.
He also pointed to the preferential trade agreement signed by the two countries, expressing the hope that it would lead to an agreement for mutual free trade.
President Rouhani arrived in Iraq on Monday in order to boost bilateral ties between the two neighbors amid US sanctions against the Islamic Republic.
Rouhani traveled to Baghdad to hold talks with Iraqi officials. A high-ranking delegation is accompanying the president.
Tehran and Baghdad signed 5 Memoranda of Understanding (MoU) to give momentum to the expansion of bilateral cooperation in various economic and healthcare sectors.
The documents were signed by senior officials of the two countries in the presence of President Rouhani and Iraqi Prime Minister Adel Abdul-Mahdi in Baghdad on Monday.
According to the documents, Tehran and Baghdad will improve cooperation in the fields of trade, healthcare and oil industry.
The two sides also agreed on the construction of a railroad link between the Iranian city of Shalamcheh and the Iraqi city of Basra as well as visa facilitation for investors and businessmen. According to the visa agreement, starting in early April 2019, the two countries will issue visas to each other's nationals free of charge.
Tehran and Baghdad signed another MoU to boost cooperation between Iran's Ministry of Industry, Mine and Trade and Iraq’s Ministry of Trade.
The two countries also agreed to cooperate in all fields related to healthcare while another agreement pertained to cooperation between Iran's Ministry of Petroleum and its Iraqi counterpart.