Iraq's imports from Iran to rise 50 percent next year: envoy
Iraq-Iran, Economics, 3/11/2006

Iraq Ambassador to Tehran said today that Iraq's imports from Iran will increase 50 percent in the next Iranian year (starts March 21).

The Iraqi Television Network 'al-Feiha' quoted Mohammed Majid Abbas al-Sheikh that Iraq has imported over one dlrs billion of goods from Iran this year.

The new Iraq government plans to increase imports from Iran by 50 percent, which will spur the figure to $1.5 billion next year, he added.

With the establishment of the new government in Baghdad the two neighbors' economic and trade exchange, scientific cooperation and religious tourism will rise to the levels agreed upon in the previously signed agreements, the report quoted the Iraqi envoy as saying.

Efforts by this government to stabilize political situation in the country would lead to active presence of foreign investors from neighboring states such as Iran, he pointed out.

Volume of Iran's exports to Iraq stands about one billion dollars, he said adding that it is expected the figure to hit over $l.5 billion in 2006.

Highlighting suitable opportunities for Iranian investors in Iraq, he said expansion of tourism, joint industrial projects such as production of car windows, construction of power stations, sugar cane factories, petrochemical plants, establishment of rail and air links are among the investment opportunities available.

Referring to Iran's role in the construction of Najaf airport, laying pipelines between Abadan and Basra as well as establishing air links between Tehran and Baghdad, he said these are all suitable areas for expansion of economic cooperation between the two countries.

Referring to the special incentives given to foreign investors, he said the Iranian businessmen and producers can benefit from special visa facilities.

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