FTZ on Iraq Border Planned |
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A senior Iranian official says Iran plans to set up a free trade zone (FTZ) on its border with Iraq and also open an Iraqi trade office in Tehran.
Mehdi Ghazanfari, head of Iran's Trade Development Organization, in a meeting with Iraqi Trade Minister Abdul Fallah al-Sudani on Thursday in Tehran offered the proposals, adding that Iranian companies are ready to participate in trade fairs in Iraqi cities.
Trade between the two countries, which have a 1,200-kilometer border, has increased in recent years, from $1.5 billion in 2006 to $2.8 billion in 2007. It is expected to reach $4 billion by the end of 2008.
The Iraqi minister welcomed the offers, noting that the Iraqi trade office in Tehran could facilitate registration of companies in the two neighboring states.
Economic Cooperation
In another development, Iraqi Deputy Prime Minister Barham Salih arrived in Tehran on Wednesday for a three-day visit.
The Iraqi delegation, including ministers and government officials, discussed a number of economic and trade agreements that could help broaden cooperation in different fields.
Trade between Iran and Iraq is expected to reach $4 billion in 2008 as their economic cooperation continues to rise. Iran exported nearly $2.8 billion worth of goods to Iraq in 2007, of which approximately $1 billion was imported via the Iraqi Kurdistan region.
On Sunday, the prime minister of Iraq's Kurdistan regional government, Nechirvan Barzani arrived in Tehran to attend a conference on Iraqi reconstruction and met with Saeed Jalili, the secretary of Iran's Supreme National Security Council.
"Iraq needs Iran's help to reconstruct and develop its infrastructure. We seek to increase Iranian investment in Iraq," Barzani said at the conference.
Falah Mustafa, an Iraqi Kurd official in charge of foreign relations, said that Tehran-Kurdistan relations were the main focus on talks between the two sides during the conference as well as calls on Iranian businessmen to invest further in Kurdistan.
According to Presstv, Hassan Danaeifar, the secretary of special taskforce for development of Iran-Iraq trade also said that the two Muslim states have launched seven border points with trade terminals and constructed several roads during past two years to facilitate trade exchanges between the two oil-rich nations.
Iraq imports a wide variety of goods from Iran including construction materials, medicines, fruits and spices, fish, air conditioners, office furniture, carpets and apparels.
Iranian Loan
During his visit to Baghdad in March, Iranian President Mahmoud Ahmadinejad offered a $1 billion loan to Iraq for projects that would be handled by Iranian firms.
Iranian banks also agreed to facilitate LC opening for Iraqi tradesmen in Iran, laying down incentives for bolstering further economic cooperation.
An Iraqi newspaper wrote Saturday that during the latest visit of Iraqi deputy prime minister to Iran the two sides agreed on establishment of a regional cooperation organization.
Quoting an Iraqi government source, who attended the meetings in Tehran, the 'Al-Mada' newspaper said in a meeting between Barham Salih and Iran's Secretary of Supreme National Security Council Saeed Jalili the issue was discussed and the two sides reached an agreement on it.
The Iraqi official, whose name was not disclosed, said the aim of such an organization is to create a common ground for cooperation among Iraq's neighbors.
The paper wrote that during the meetings and consultations, the issue of progress in Iraq security affairs was also underlined and the two sides emphasized that promoting stability in Iraq is an important factor for developing cooperation in the fields of investment and construction.
Barham Salih, who has visited Iran several times in the past, said, "In the past years consultations were 80 percent on security issues and only 20 percent on economic cooperation while it has been changed now to 20 and 80 respectively.
Saleh added, "It is in Iraq's interest to consult with its neighbors to remove misunderstandings."
Transport Network
Head of Iran-Iraq Chamber of Commerce, Industries and Mines Hassan Tizmaghz on Thursday held talks with Iraqi Trade Minister Abdul Falah al-Sodani on issues of mutual interest.
Tizmaghz called for bolstering the transportation network between the two countries. "Iran has proposed to establish a joint transport company in Iraq and is waiting for the Iraqi government's reply," he said.
Tizmaghz also voiced Iran's readiness to make investment in Iraq's holy cities.
On Iraq's economy, al-Sodani said economic recovery is currently underway in his country and that Iraq's budget has increased from $30 billion in 2005 to $47 billion in 2007.
According to him, Iraqi firms are keen to cooperate with their Iranian counterparts and grounds have been paved for Iranian investments in Iraq.
Barham Salih visited Iran heading a high ranking Iraqi delegation, including ministers of energy and commerce.
In his two-day visit, he met with President Ahmadinejad, Foreign Minister Manouchehr Mottaki and Secretary of SNSC Saeed Jalili to discuss implementing economic agreements.
© Iran Daily 2008
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