05-08-04

Iran and Iraq stressed the importance of expanding bilateral cooperation in various economic fields. Senior officials of Iran and Iraq, at the end of a two-day conference on Iran-Iraq economic and trade opportunities, highlighted the need to negotiate and reach agreements on transit and free exchange as well as transportation between the two countries.

The participants called for removal of visas and facilitating and controlling border affairs.

The Iranian banks expressed readiness to allocate $ 300 mm to Iraq. Export Development Bank of Iran (EDBI) and an Iraqi bank signed an agreement based on which EDBI agreed to accept credit documents of the other side. The sides also underlined the need to establish an Iranian bank in Iraq.
Outlining Iraqi new investment law and inviting Iranian economic officials in various fields to invest in Iraq were among other issues brought up at the conference. Iran and Iraq stressed oil cooperation and connecting electricity networks. The Iranian side expressed readiness to repair Iraq’s refineries in all fields.

During the conference, the two countries also agreed on expansion of human force, higher education, providing facilities to Iraqi students, establishing Persian-language course at Iraqi universities, physical education, cultural and religious tourism, historical monuments and cultural heritage as well as bilateral cooperation in telecommunication field.

The conference of Iran-Iraq trade and economic opportunities was held in Tehran on the cooperation of Economic Department of Iran’s Foreign Ministry and the International Fund for Iraq’s Reconstruction. Iraqi Commerce Minister Adel Abdul-Mahdi, heading a high-ranking economic, political and cultural delegation, attended the conference.

Source: Tehran Times