Iran\u2019s ambassador to Baghdad, Mohammad Kazem Al-e-Sadegh, announced on Thursday that the two countries are committed to strengthening economic and commercial ties, setting a bilateral trade target of $30 billion. Speaking at a meeting between governors of Iran\u2019s Ilam Province and Iraq\u2019s Maysan Province, he revealed that preliminary approval has been granted to reopen the Chilat border crossing, which is expected to serve as a strategic hub for regional trade and economic cooperation.<\/p>\n\n\n\n
Al-e-Sadegh highlighted the potential of the new crossing to boost local economies, create jobs, and improve infrastructure for border communities. Positioned near Maysan\u2019s capital Amarah, the Chilat corridor is seen as a key facilitator for Iranian exports to Iraq and the broader region, while also helping to ease congestion during the annual Arbaeen pilgrimage by diverting traffic from the heavily used Mehran terminal.<\/p>\n\n\n\n
Iran and Iraq have already built significant trade relations. In the first four months of the current Iranian calendar year, Iran exported $3 billion in non-oil goods to Iraq, making it Iran\u2019s second-largest non-oil export market. In the past year, non-oil exports to Iraq totaled $11.9 billion, with more than 2,200 Iranian products reaching the Iraqi market. Both sides aim to increase these exchanges, with officials targeting $20\u201330 billion in annual trade.<\/p>\n\n\n\n
Efforts to expand trade include improving infrastructure, encouraging investment, dispatching trade delegations, participating in exhibitions, and integrating both economies into the regional value chain. Al-e-Sadegh emphasized that Iraq remains a key neighbor with strong economic, political, and social ties, expressing confidence that bilateral relations will continue to grow.<\/p>\n","protected":false},"excerpt":{"rendered":"
Iran\u2019s ambassador to Baghdad, Mohammad Kazem Al-e-Sadegh, announced on Thursday that the two countries are committed to strengthening economic and commercial ties, setting a bilateral trade target of $30 billion. Speaking at a meeting between governors of Iran\u2019s Ilam Province and Iraq\u2019s Maysan Province, he revealed that preliminary approval has been granted to reopen the […]<\/p>\n","protected":false},"author":3,"featured_media":747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-exchange"],"_links":{"self":[{"href":"https:\/\/moneyro.app\/en\/blog\/wp-json\/wp\/v2\/posts\/746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyro.app\/en\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moneyro.app\/en\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moneyro.app\/en\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyro.app\/en\/blog\/wp-json\/wp\/v2\/comments?post=746"}],"version-history":[{"count":1,"href":"https:\/\/moneyro.app\/en\/blog\/wp-json\/wp\/v2\/posts\/746\/revisions"}],"predecessor-version":[{"id":748,"href":"https:\/\/moneyro.app\/en\/blog\/wp-json\/wp\/v2\/posts\/746\/revisions\/748"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moneyro.app\/en\/blog\/wp-json\/wp\/v2\/media\/747"}],"wp:attachment":[{"href":"https:\/\/moneyro.app\/en\/blog\/wp-json\/wp\/v2\/media?parent=746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moneyro.app\/en\/blog\/wp-json\/wp\/v2\/categories?post=746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moneyro.app\/en\/blog\/wp-json\/wp\/v2\/tags?post=746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}