Iran, Iraq seek to improve trade using national currencies
Date
11/1/2023 9:07:05 AM
(MENAFN) Iran and Iraq have underscored the importance of utilizing their respective national currencies to foster and enhance bilateral trade relations. This commitment was reaffirmed during a meeting between Iran's Minister of Industry, Mining, and Trade, Abbas Ali-Abadi, and the Prime Minister of Iraq, Mohammed Shia’ Al Sudani, which took place in Baghdad. The discussions centered on exploring ways to bolster economic ties between the two nations and strengthen cooperation in various sectors.
The meeting, held at the Iraqi Prime Minister's office, provided an opportunity for both parties to engage in substantive dialogue about their economic relations. The primary focus was on enhancing trade exchanges and deepening partnerships at multiple levels. The Iraqi Prime Minister's Office issued a statement on the proceedings, noting the significant developments that transpired during the meeting.
According to the statement, the meeting served as a platform for Iraq's Prime Minister Al Sudani to express his country's readiness to expand collaboration with Iran, particularly in areas such as petrochemical industries and fertilizer production. This signifies Iraq's intention to further diversify and deepen its economic ties with its neighboring nation.
In response, Iran's Minister of Industry, Abbas Ali-Abadi, conveyed warm greetings from Iran's President Ebrahim Raisi. He stressed the imperative need to advance trade and economic initiatives, especially in light of the prevailing economic challenges within the region and the global context. The discussions reflected a shared commitment to strengthening their trade and economic cooperation, and the mutual recognition of the value of utilizing their national currencies for facilitating trade between the two countries. This strategic move is expected to promote increased trade and further solidify the economic bonds between Iran and Iraq.
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