Iraq inter - Arab trade up 50 percent

Arriving at Cairo airport yesterday to attend the meetings of the economic and social council of the Arab trade ministers today, Iraqi Minister of Trade Muhammad Mahdi Saleh confirmed that the volume of trade between Iraq and the Arab states has increased by 50% during the current year.

He said that despite this, the increase did not fulfill Iraq's needs within the sanctions imposed on it, adding that Iraq was importing goods worth $20 billion before the sanctions, while the volume of its current imports is only $2.6 billion as a result of petroleum sales specified by the United Nations sanctions, which only satisfy 10% of Iraqi requirements.

Saleh added that the meeting of the Arab ministers of economy is a great chance to discuss methods of developing bilateral relations with Egypt and trade exchange between Iraq and the Arab states.

The Iraqi minister added that trade exchange began with the Gulf states several months ago, beginning with Oman, Bahrain and Qatar, then signing contracts with Saudi Arabia.