Tehran and Baghdad Set to Skyrocket Annual Trade to $20 Billion!
In recent developments at the 7th Export Potential Exhibition of the Islamic Republic of Iran, known as “Iran Expo 2025,” significant insights into the trade relationship between Iran and Iraq were shared. Yahya Al-e Es’hagh, a key figure in this dialogue, highlighted the current and future potential of bilateral trade, which is poised for substantial growth.
During the event held at the Tehran Permanent International Fairgrounds, Al-e Es’hagh announced that the value of products exchanged between Iran and Iraq in 2024 is estimated to be around $12 billion. This figure reflects the deepening economic ties and strategic partnership between the two nations.
Al-e Es’hagh emphasized that the relationship between Iran and Iraq is not only strategic but also ripe for expansion. He stated, “It is predicted that Iran and Iraq annual trade could increase to $20 billion in the coming years.” This optimistic projection underscores the importance of fostering stronger commercial links.
To facilitate this growth in trade, Al-e Es’hagh pointed out the significance of holding exhibitions and the active participation of trade-economic delegations. He noted that such initiatives are crucial in enhancing mutual trade, saying, “Iraq sent the largest trade delegation to Iran to participate in the 7th edition of Iran Expo 2025.” This reflects a commitment from both sides to explore new opportunities and strengthen their economic relationship.
Here are some key points regarding the Iran-Iraq trade relationship:
- Current Trade Value: Approximately $12 billion in 2024.
- Future Projections: Expected to reach $20 billion annually.
- Significance of Exhibitions: Events like Iran Expo 2025 are pivotal for trade growth.
- Delegation Participation: Iraq’s largest trade delegation at the expo highlights commitment to trade.
The potential for enhanced trade between Iran and Iraq is bolstered by their geographical proximity and complementary economies. Both nations have much to gain from increased cooperation in various sectors, including energy, agriculture, and manufacturing.
Trade experts believe that by leveraging their strategic partnership, Iran and Iraq can create a more integrated economic landscape. This integration can lead to improved market access for both countries and foster sustainable growth.
Furthermore, the role of trade fairs and exhibitions cannot be understated. These events serve as platforms for businesses to showcase their products, network with potential partners, and explore new markets. The participation of foreign delegations, such as Iraq’s, is a testament to the importance of these gatherings in enhancing trade relations.
In conclusion, the Iran-Iraq trade relationship is on the brink of significant transformation, with projections indicating a doubling of trade value in the coming years. As both countries continue to strengthen their bilateral ties, the emphasis on strategic exhibitions and trade delegations will play a crucial role in this journey.
