The Iran-Iraq trade could reach the $25 billion mark in the next two years, the Chairman of the Economic Development Committee of Iran and Iraq, Ali Saeedlou said, IRNA reported.
Saeedlou made the statements at the joint economic cooperation meeting with the Northern Iraqi administration head Massoud Barzani, which has been held in Arbil.
Saeedlou noted that the trade, which currently stands at some $12 billion, could reach $25 billion, as Iran has the expansion of economic ties with Iraq as one of country's priorities.
Saeedlou noted that Iran is interested in expanding economic relations with all neighboring countries, and especially with Iraq.
"The Islamic Republic of Iran is working in the energy sectors in Iraq, as well as engaging in other projects regarding petroleum products, oil and gas issues," Saeedlou said.
He noted that Iranian companies are engaged in major economic activities in Iraq, such as road building and construction, adding that Iran is interested in development of Iraq's private sector and mutual cooperation.
Trend News Agency