Envoy: Iran-Iraq industrial coop enters a new phase

Baghdad, Aug 13, IRNA – The industrial cooperation of Iran and Iraq is to enter a new phase in the near future, Iranian Ambassador to Iraq Iraj Masjedi said in a meeting with Iraqi industry union presiding board on Sunday. Masjedi said that promoting of joint investment and sharing resources by Iranian investors to carry out parts of production operations in Iraq are examples of the new chapter to be opened in the two countries' economic cooperation. The ambassador said Tehran is encouraging the Iranian economic activists to make investments in Iraq. Meanwhile, Secretary General of the Iraqi Federation of Industries Ali Sabih al-Saedi underlined continuation of cooperation with the Iranian firms and the importance of Iran private sector's participation in creating production lines in Iraq. Iran's high industrial capacity and its update industrial knowledge are great advantages that can play a key role in promotion of production capacity in Iraq, he said. Meanwhile, the Iraqi official said gradual opening of new production lines in Iraq would stabilize presence of the Iranian economic activists in that country. Presently, the value of Iran-Iraq annual trade ties is over $10.2bn. Follow us on Twitter @IrnaEnglish