Iran’s vision for Iraqi market on track despite US sanctions
Tehran (Kna) - Iran is pushing forth with a 2025 vision plan to raise its exports to Iraq to $20 billion a year despite US pressures on Baghdad to keep Tehran at its arm’s length.
Iran's business adviser at the country's embassy in Baghdad was quoted as saying Tuesday that the Islamic Republic was already ahead of its plan, with non-oil exports currently standing at $4.5 billion.
"Based on the average growth rate of 8.5% of non-oil exports and the realization of about $ 4.5 billion worth of these exports, we can say that we are 28% ahead of our export targets to Iraq," Nasser Behzad said.
Iran is currently Iraq's top trade partner, with annual turnover of about $12 billion, according to Iraqi officials. By comparison, annual trade between Saudi Arabia and Iraq stands below $6 billion.
Source: PressTV