ERBIL, Kurdistan Region - A member of the Iraqi-Iranian Chamber of Commerce has revealed that the trade volume between the two countries has increased by $150 million on a monthly basis since March.
“There has been a $150 million monthly growth in Iran-Iraq trade volume. During the first three months of the [Persian] New Year, our exports [to Iraq] were worth $1 billion on a monthly basis,” chamber member Hamid Hosseini told Rudaw on Wednesday, noting exports declined last month amid Iran’s presidential elections.
Reformist politician Masoud Pezeshkian was sworn in as Iran’s ninth president on Tuesday following his electoral victory in early July. Delegations from over 80 different countries attended the inauguration ceremony, including Kurdistan Region President Nechirvan Barzani.
Tuesday’s visit marked Barzani’s third trip to Iran so far in 2024. He has met with top officials in Tehran, including Supreme Leader Ayatollah Ali Khamenei, late President Ebrahim Raisi, and Pezeshkian.
Hosseini said that Barzani’s visits to Tehran play a major role in developing trade relations between Iran and the Kurdistan Region, claiming that the frequent trips indicate issues between Erbil and Tehran have been resolved.
“Nechirvan Barzani’s visits to Tehran will have a large impact on developing our relations and this will facilitate trade affairs,” added Hosseini, the Iranian member of the chamber. “The Qazvin exhibition in Erbil indicates the strength of our relations with the Kurdistan Region. I hope we increase our visits to further grow our relations in the fields of tourism and commerce.”
The Qazvin Chamber of Commerce and Industry is currently holding its first trade exhibition at the Erbil International Fair, which is set to continue until August 3.
The Kurdistan Region and Iran enjoy good economic relations. During a forum in Sulaimani in April, Barzani said that Iran contributed to the economic “success” of the Kurdistan Region.
The relationship has been strained recently by Tehran’s cross-border attacks on exiled Kurdish groups and deadly missile strikes on locations that it alleged were Mossad bases in the Kurdistan Region.
Nazim Dabbagh, the Kurdistan Regional Government’s (KRG) representative in Tehran, told Rudaw in April that although Erbil-Tehran relations have experienced ups and downs over the years, the two sides have always exhibited a willingness to come together and resolve their issues - a dynamic he said is important to maintain.
Iran and Iraq have shared a strong relationship since the fall of Saddam Hussein in 2003. Baghdad heavily relies on imports from Tehran for most commodities. Iraq’s electrical grid has been dependent on gas imports from Iran for years.
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