In an interview with Iran Daily, Hosseini emphasized, “A positive aspect of Iran’s exports to Iraq is that, among our top trading partners, Iraq is the only country with a trade balance entirely in Iran’s favor. In contrast to Iran’s $12 billion in exports to Iraq, our imports from the country amount to $500 million, creating a significant trade surplus for Iran.”“For comparison, our exports to the UAE — one of our largest trading partners — stand at approximately $7 billion, while imports from the UAE total $22 billion. Similarly, our exports to China amount to $14 billion, but imports from China reach $19 billion, tilting the trade balance scale in their favor,” he added.Hosseini noted, “Iraq and Afghanistan are key markets that help balance Iran’s overall trade deficit, as both maintain trade surpluses in Iran’s favor.”Regarding the $20 billion trade target with Iraq, he stated, “Achieving a $20 billion trade volume with Iraq is entirely feasible in the short term. In fact, this goal has already been met if we include unofficial exports, the value of electricity exports, transit of Iraqi petroleum products through Iran, and goods shipped from Bandar Abbas to Iraq’s Kurdistan Region alongside official trade figures.”“The potential for Iran-Iraq trade far exceeds current levels, but reaching higher figures requires penetrating new sectors of Iraq’s market. Iraq has significant demand for goods such as tires, automotive parts, tobacco, and gold — areas where Iranian presence remains limited,” said the board member of the Iran-Iraq Joint Chamber of Commerce.He further underlined, “Iran holds substantial untapped potential in exporting technical and engineering services to Iraq. Activating this sector could significantly boost our exports. Previously, challenges with bank guarantees hindered participation in Iraqi tenders, but the current administration has resolved this by issuing government-backed guarantees. If this progress continues, Iran could export up to $4 billion annually in technical and engineering services to Iraq.”On Iraq’s position among Iran’s top trade partners, Hosseini said, “Iraq currently ranks as Iran’s third-largest trading partner after the UAE and China. In 2024, increased exports to Iraq allowed Iran to surpass Turkey’s market share in Iraq, securing a larger portion of the Iraqi market.”He concluded, “Within the region, Iran faces no major competitors — aside from Turkey — in exporting technical services and heavy industrial goods, positioning us to meet regional demand in these sectors.”Regarding export composition, Hosseini explained, “Iran’s primary exports to Iraq include construction materials, food products, fruits and vegetables, household appliances, chemicals, and petrochemicals. In contrast, imports from Iraq largely consist of metal scrap.”On recent bilateral engagements, he added, “Last week’s Iran Expo exhibition saw the participation of 100 Iraqi business delegates, alongside 10 Iraqi governors and heads of chambers of commerce, resulting in several promising cooperation agreements between the two countries.” (ICE TEHERAN)

Fonte notizia: IRAN DAILY