Amid sanctions, Iran traders seek lifeline in Iraq
DUHOK, Kurdistan Region — At least 24 Iranian businesses from 15 Iranian cities participated this week in an exhibition in the city of Duhok, in the Kurdish-run northern region of Iraq.
Piles of plush carpets line the floors in a shopping centre hosting traders from neighbouring Iran.
With their country's economy in tatters amid crippling sanctions, Iranians hope the spangle of their ornate handicrafts might offer a lifeline out of poverty.
At least 24 Iranian businesses from 15 Iranian cities set up shop this week in the city of Duhok.
From Sanandaj to Bijar, they brought luxurious carpets.
From Isfahan, Yazd and Hamadan, precious gemstones, copper and pottery.
The exhibition is typically held every year in the city of Sulaimani, which borders Iran.
This is the first year the traders have ventured to Duhok, which shares closer economic ties to neighbouring Turkey, in hopes of enticing new customers and creating greater demand for Iranian goods.
But, to the dismay of many Iranian traders, the impact of Iraq's own economic troubles was in plain sight.
The exhibition attracted crowds of visitors but many could not afford the marked down items.
"There are many visitors who have warmly welcomed this expo but economic problems have kept them from buying," says Maryam Moradi, a businesswoman from Sanandaj.
Iraq is grappling with an unprecedented liquidity crisis brought on by low oil prices, which have slashed state coffers in half and lead the government to borrow from the central bank's foreign currency reserves to make salary payments.
Others are skeptical Iranian goods will be well received in Duhok and other areas of Iraq where Turkish brands dominate shopping isles.
"In Duhok, the demand is mainly for Turkish goods," says Shireen Mohammed, a local resident.
The exhibition was opened on December 25, 2020, and will last until January 25, 2021.
Piles of plush carpets line the floors in a shopping centre hosting traders from neighbouring Iran.
With their country's economy in tatters amid crippling sanctions, Iranians hope the spangle of their ornate handicrafts might offer a lifeline out of poverty.
At least 24 Iranian businesses from 15 Iranian cities set up shop this week in the city of Duhok.
From Sanandaj to Bijar, they brought luxurious carpets.
From Isfahan, Yazd and Hamadan, precious gemstones, copper and pottery.
The exhibition is typically held every year in the city of Sulaimani, which borders Iran.
This is the first year the traders have ventured to Duhok, which shares closer economic ties to neighbouring Turkey, in hopes of enticing new customers and creating greater demand for Iranian goods.
But, to the dismay of many Iranian traders, the impact of Iraq's own economic troubles was in plain sight.
The exhibition attracted crowds of visitors but many could not afford the marked down items.
"There are many visitors who have warmly welcomed this expo but economic problems have kept them from buying," says Maryam Moradi, a businesswoman from Sanandaj.
Iraq is grappling with an unprecedented liquidity crisis brought on by low oil prices, which have slashed state coffers in half and lead the government to borrow from the central bank's foreign currency reserves to make salary payments.
Others are skeptical Iranian goods will be well received in Duhok and other areas of Iraq where Turkish brands dominate shopping isles.
"In Duhok, the demand is mainly for Turkish goods," says Shireen Mohammed, a local resident.
The exhibition was opened on December 25, 2020, and will last until January 25, 2021.