Iran and Iraq are focusing on boosting bilateral trade to $20 billion within three years. The two countries see strong potential to expand commercial ties and strengthen their economic partnership.
Yahya Al-e Es’hagh, Chairman of the Iran-Iraq Joint Chamber of Commerce, emphasized that bilateral trade reached about $12 billion in the past Iranian calendar year. He expects this figure to rise significantly in the current year. The goal of $20 billion is realistic given the current agreements between the countries.
Al-e Es’hagh highlighted that Iran can provide a wide range of consumer goods, food products, and industrial materials to Iraq. With nearly 50 million people, Iraq represents a key market for Iranian exports. Cultural and political ties make Iran one of Iraq’s most accessible trading partners.
The expansion of bilateral trade will rely on continuous cooperation and effective implementation of existing agreements. Iran currently supplies construction materials, detergents, food items, and engineering services. Additionally, agricultural products, fruit, medical services, and leisure tourism are part of Iran’s export portfolio to Iraq.
Al-e Es’hagh also noted that Iran holds around twenty percent of Iraq’s consumer market. This strong presence demonstrates the growing importance of bilateral trade for both economies. He added that the market still offers significant room for expansion in multiple sectors.
To achieve the $20 billion target, both countries plan to enhance trade facilitation measures and reduce obstacles for exporters and importers. Strategic planning and investment in infrastructure will support the flow of goods across borders. Experts suggest that focusing on high-demand sectors, such as food products and industrial materials, will accelerate trade growth.
Iran and Iraq share a long history of economic interaction, which strengthens the foundation for future cooperation. By leveraging geographical proximity and market demand, both nations aim to make bilateral trade more efficient and sustainable.
Officials stress that regular dialogue and joint initiatives will be crucial to realizing the three-year trade target. With committed efforts, Iran and Iraq hope to see their bilateral trade flourish and contribute significantly to regional economic stability.