Prime Minister of Iraq Mohammed Shia Al-Sudani received Abbas Aliabadi, The Minister of Industry, mining and Trade of Iran. Iran’s Minister visited Iraq on 31st October. Both leaders discussed  number of bilateral issues during the meeting.

During the meeting, the economic relations were deeply discussed. The discussion has its focus on the different strategies that could be used to boost trade among both countries. They also discussed how to enhance the partnership across the various sectors relating to trade and the economy.

Iraq’s Prime Minister further stated that Iraq is ready to provide every kind of assistance that will pave the way for economic growth. Iraq’s Prime Minister also emphasized for exploring the techniques in the petrochemical and fertilizers sectors.

Both leaders agreed that the petrochemical and fertilizer industries could play a significant role in the domestic development of the countries.

On the other hand, the Iranian Minister on his part conveyed the greeting of Iran’s president to Iraq. He also stressed that productive economic projects are very important for the economic integration between both countries. The Iranian Minister also said that economic development is an engine of the overall development of the whole region.

The bilateral meeting also deliberated the possibilities of the potential transitions towards the common use of national currencies of both countries in relation to trade and bilateral financial transactions. The use of the national currencies of both countries for trade and commerce is aimed at enhancing opportunities in the economic relations currently existing between Iran and Iraq.

A few months ago, the chairman of the Iran-Iraq Joint Chamber of Commerce also expressed hope that the trade between both countries could grow up to 30 billion dollars per year with smooth and consistent economic policies. It is to be specifically mentioned that trade relations between Iran and Iraq are strategic in the Short as well as in the long term scenario.