Iran, Iraq Discuss Expanding Economic and Banking Ties

On the first day of his official visit to Iraq, the Governor of the Central Bank of Iran (CBI), Abdolnaser Hemmati, held talks with Iraq's Trade Minister Alani on Sunday. The discussions focused on measures to strengthen bilateral cooperation in trade, investment, and monetary affairs.

Both sides highlighted the extensive potential for expanding economic relations between the two neighboring countries. They discussed implementing previous agreements and increasing banking interactions between Iran and Iraq, which are seen as key to facilitating smoother trade and financial transactions.

Hemmati stressed the active role of private-sector players in facilitating the export and import of goods. He emphasized the need to adopt new mechanisms to accelerate trade transactions, particularly at entry points, to overcome bureaucratic hurdles and improve efficiency.

The Iraqi trade minister welcomed the expansion of cooperation and emphasized the Iraqi government's determination to address challenges facing economic actors and strengthen trade ties with Iran. He expressed optimism about the future of bilateral economic relations.

According to Mehr News Agency, the visit aims to deepen economic and banking ties between the two countries, which have historically shared strong political and religious connections. The talks are part of ongoing efforts to enhance bilateral cooperation in various sectors.