Trade exchange between Iraq and UAE $400 million annually

The Iraqi Minister of Trade is currently visiting the UAE as he heads an official Iraqi delegation that is participating in the Arab-African Cooperation Seminar which is held in Sharja.

The Iraqi Minister of Trade confirmed that his country is looking forward to strengthening its relations with the UAE in the upcoming period, especially after the volume of trade exchange between the two countries reached $400 million per year.

The Iraqi Minister added that the UAE markets have great potential to fill Iraqi needs for necessary commodities after lifting the international blockade imposed on Iraq. The Iraqi Minister also discussed means of boosting joint cooperation with UAE officials and the officials of Dubai ports in the light of the oil-for-food agreement and Iraqi needs.

Since the partial lifting of the embargo, UAE merchants succeeded in providing the Iraqi markets with some of its needs while some Iraqi merchants arrived in the UAE to boost the trade cooperation between the two countries.