TEHRAN (Tasnim) – Senior Iranian official Mehdi Safari, Iran’s Deputy Foreign Minister for Economic Diplomacy, announced that Iran and Iraq are in discussions to implement new measures aimed at expanding their trade ties.
This comes as both countries show signs of easing restrictions at their borders to facilitate increased shipments.
Safari reported that trade between Iran and Iraq had seen a 10% year-on-year increase during the two calendar months leading up to late May.
The official stated that authorities from three provinces in western Iran and their counterparts in Iraq’s Kurdistan region have reached an agreement to establish joint companies, enabling sealed road transport from Iran to Iraq.
This arrangement will allow Iranian companies to directly supply their products, particularly perishable food, to Iraqi customers without the need to change trucks at the borders.
Safari emphasized that this transport mechanism has the potential to significantly boost trade between Iran and Iraq.
Furthermore, Iran has agreed to relax its restrictions on the transit of Iraqi oil products through Iran’s port of Bandar Abbas on the Persian Gulf.
These discussions took place during a meeting in Orumiyeh, located in northwest Iran, where governors from the border provinces of Iran and Iraq’s Kurdistan region convened to explore measures for expanding trade.
Senior officials from Iraqi Kurdistan also expressed their plans to open a new border crossing to Iran’s city of Oshnavieh, with the aim of further enhancing bilateral trade.