Iraq Calls for Iran's Help to Develop Industrial Projects

Fri Feb 19, 2016 3:54

TEHRAN (FNA)- Iraqi Industry Minister Mohammed Sahib al-Daraji underlined that his country is willing to broaden mutual cooperation with Iran in economy and trade fields.

"We welcome Iranian companies' participation in the Iraqi market," al-Daraji said on Friday.

Al-Daraji's remarks came as his Iranian counterpart Mohammad Reza Nematzadeh voiced Tehran's readiness to contribute to Iraq's industrial development.

In a relevant development in September, Iran's Minister of Economic Affairs and Finance Ali Tayyebnia and his Iraqi counterpart Hoshyar Zebari signed three agreements on customs cooperation, double taxation, and mutual investment.

"Iran and Iraq will expand customs cooperation while taking steps to do away with double taxation and encourage mutual investment in the two countries," Tayebnia told reporters on the sidelines of the signing ceremony in Tehran.

The Iranian minister announced that Tehran and Baghdad planned "to promote our annual trade volume from its current $13 billion to $20 billion in near future to secure the interests of both neighboring countries".