(MENAFN) Iranian Finance and Economic Affairs Minister Ehsan Khandouzi has announced plans to establish three joint industrial parks on the border with the Iraqi provinces of Maysan, Basra, and Wasi. Khandouzi recently co-chaired the fifth Joint Economic Committee meeting between the two countries in Iraq, where he discussed ways to strengthen economic cooperation between Iran and Iraq.
During the meeting, the two sides reached an agreement to co-manufacture products with high added-value. Khandouzi highlighted the serious will of both countries to implement the projects that have been talked about for years. He also mentioned the Shalamcheh-Basra railway as one of the projects that the two sides have agreed to complete soon.
Khandouzi further added that the exports of technical and engineering services were discussed in the joint economic committee meeting. He held a separate meeting with Iranian businessmen active in the field of technical and engineering services to discuss their problems and talked to the Iraqi side about them.
The volume of trade between Iran and Iraq has grown by 20% over the last 11 months. Khandouzi expressed hope that the achievements and agreements reached in Iraq would create opportunities to break the record of increasing trade with this country in the upcoming year.
The Iran-Iraq Joint Economic Committee meeting was aimed at shoring up economic cooperation between the two countries. On the sidelines of the meeting, Khandouzi met with Iraqi Minister of Trade Atheer Daoud Al-Ghurairy to discuss ways of expanding economic ties. Khandouzi underlined the capacities of the two countries for developing trade and emphasized that the capacity of exchanges between Iran and Iraq is far beyond the numbers recorded in the joint trade between the two countries.
The joint industrial parks on the border with Iraq are aimed at creating opportunities for co-manufacturing and strengthening economic ties between the two countries. The Shalamcheh-Basra railway project is also significant, as it will improve transportation infrastructure and facilitate the movement of goods between the two countries. The growth in trade volume between Iran and Iraq is a positive development, and the two countries are committed to further strengthening economic cooperation. The success of these efforts will have a significant impact on the economies of both countries and the broader region.
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