Iraq accounts for 22 percent of Iran's total exports, official says

Hassan Danaeifar, an Iranian official, said that Iraq accounts for 22 percent of Iran's total exports, emphasizing the need to safeguard and develop this strategic market. He noted that Iraq has been one of Iran's main trading partners for the past 15 years and that about 22 percent of the country's exports currently go to its neighbor.

Danaeifar further stated that Iran accounts for 14 percent of Iraq's imports, demonstrating the strategic depth and significance of trade relations between the two countries. He said the Iraqi market offers significant potential for expanding Iranian exports, citing advantages such as short geographical distance, reasonable transportation costs, market proximity, and the alignment of the quality and price of Iranian goods with the needs of Iraqi consumers.

He emphasized that a significant portion of Iran's exports to Iraq consists of finished products, which he described as a key advantage of trading with Iraq, as Iranian goods with their moderate quality and price are well-suited to the Iraqi market. Regarding the development of economic relations, Danaeifar noted that ties are not limited to commercial exchanges; continuous visits and interactions between officials from both nations demonstrate a deep-rooted and meaningful relationship.

Referring to the capacity of Iran's provinces to develop exchanges with Iraq, he said that all provinces have trade relations with the Iraqi market, and Iraq is important for a large part of Iranian producers and exporters. Therefore, he added, it is necessary to use provincial capacities in a purposeful way to develop trade with Iraq.

According to Mehr News, Danaeifar's remarks underscore the importance of Iraq as a trading partner for Iran and the potential for further economic cooperation.