Iran Looks Forward To Developing Economic Ties And Boosting Trade With Iraq - President

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 8. Iran hopes to develop economic ties with Iraq and increase the trade turnover of the two countries, Iranian President Masoud Pezeshkian said at a joint press conference with Prime Minister of Iraq Mohammed Shia' Al Sudani in Tehran on January 8, Trend reports.

According to him, negotiations were held on expanding ties in the customs sphere, the participation of Iranian and Iraqi companies in joint investment projects, increasing passenger transportation, cargo transportation, and transit, strengthening cross-border markets, eliminating problems related to the activities of the private sector, and mutual satisfaction of the needs of the parties.

The Iranian president stated that the meeting focused on economic and trade cooperation and several projects, particularly the acceleration of the modernization of the Shalamcheh-Basra railroad.

In a press conference, the Prime Minister of Iraq, Mohammed Shia' Al Sudani, also emphasized the importance of cooperation between the two countries.

Al-Sudani noted that officials from the two countries will soon convene on economic projects, joint projects, as well as cooperation in Iraq's electricity and gas supply.

The Prime Minister of Iraq articulated a strategic intent to enhance bilateral relations with the Islamic Republic of Iran.

Iraqi Prime Minister Mohammed Shia' Al Sudani conducted a diplomatic visit to the Islamic Republic of Iran today.

The southwestern Iranian village of Shalamcheh in the Khurramshahr district of Khuzestan province is located on the border with Iraq. The railway line from this point to Basra, Iraq, will be about 32 kilometers long. Part of the railway line passes over the Arvand River, and an 800-meter-long bridge is planned to be built across the river.

Based on the memorandum signed between the two countries on the construction of the Shalamcheh-Basra railroad, the construction works along with the railroad bridge over the Arvand River should be completed within 18 months to 2 years.

The Iranian contingent asserts that the operationalization of the Shalamcheh-Basra railway corridor will facilitate the transit of 8–10 million tons of freight and approximately 12 million travelers annually.

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