Iran-Iraq Trade Can Grow to $30bn: Official

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Iran-Iraq Trade Can Grow to $30bn: Official

The chairman of the Iran-Iraq Joint Chamber of Commerce stated that Iran and Iraq have the potential to increase their annual bilateral trade up to $30 billion.

On Tuesday, Yahya Al-e Es’hagh spoke at the Conference of Solution of Sustainable Development of Iran-Iraq Trade in 2025 Outlook. He stated that despite facing several challenges, Iran managed to export non-oil products worth $11 billion to neighboring Iraq in 2022.

Iran and Iraq have strategic and high potential trade ties, with a capacity to enhance mutual trade up to $30 billion in short- and long-term.

During his speech, Al-e Es’hagh encouraged Iranian entrepreneurs to capitalize on the opportunities available to them and increase trade with the Arab country.

Both the private and state sectors of the country need to collaborate to enhance the country’s export share in the Iraqi market, as suggested by Al-e Es’hagh.