(MENAFN- Trend News Agency) Iran has signed with Iraq a contract worth 4 billion U.S.
dollars to provide technological and engineering services to the
Arab country, semi-official Tasnim news agency reported on
Wednesday, trend reports citing xinhua .
The contract can help cover some of the shortfall in Iran's
exports to Iraq in the fiscal year ending on March 20, especially
in the areas of manufacturing, technological and engineering
services, and medical services, Tasnim quoted Hamid Hosseini, the
head of the board of directors of the Iranian Oil, Gas, and
Petrochemical Products Exporters' Association, as saying.
Hosseini also noted that Iran's exports to Iraq during the past
eight months saw a 1.4-billion-dollar decline year on year.
Iran's exports to its neighbor are expected to increase in the
next four months and will go back to the normal level, he said.
Around 45 percent of Iraq's electricity is generated by natural
gas imported from Iran.
While the United States has imposed sanctions on Iran to bar
other countries from buying Iranian oil and gas, Iraq has received
exemptions from Washington to import Iran's gas.
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