USD 14 billion the volume of Iraqi trade exchange with Arab states

The Iraqi trade minister Muhammad Mahdi Saleh on Monday announced that Iraqi trade exchange with the Arab states in the framework of the oil for food program occupies 50% of the total Iraq's foreign trade.

The Iraqi minister said that the volume of trade exchange between Iraq and the Arab states reached USD 14.5 billion representing 50% of its total foreign trade since the implementation of the oil for food agreement.

The Iraqi minister added that Egypt occupied the first position among the Arab states as the volume of trade exchange with it reached USD 3.5 billion, then Jordan USD 2.8 billion; USD 2.6 billion for the UAE, USD 1.5 billion for Syria, USD 839 million for Lebanon, USD 556 million with Algeria; USD 465 million with Morocco; USD 357 million with Oman and a sum of USD 105 million with Yemen.

The Iraqi minister indicated that Russia occupies the first position among all states Iraq has trade relations with, noting that volume of Russian trade exchange with Iraq is USD 5.5 billion.

Mahdi also announced that the special distribution plan of the 11th of the oil for food agreement is currently under preparation in order to be submitted to the UN.