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Iran’s Share of Iraqi Market 12%


Iran’s share of the Iraqi market is only 12%, the Iranian consul general in the city of Karbala said.

“Iran’s non-oil exports to Iraq stand at $8 billion per year. Close to 85% of Iran’s technical and engineering services exports head to this neighboring country,” Mir-Masoud Hosseinian was also quoted as saying by IRNA. Hosseinian noted that although Iran has the longest common border of 1,400 kilometers with Iraq, Turkey with a 22% share in that country’s market is more successful.

Iran was Iraq’s third biggest trading partner in 2016 after China and Turkey, the Iraqi commercial attaché to Iran said early May.

“At present, we intend to ease investment regulations and offer better services to economic players active in Iraq to boost trade ties between the two countries,” Shaker Razzaq Al-Da’mi added.

Source: Financial Tribune, June 12, 2017

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