TEHRAN : Iraqi Oil Minister Adil Abd Al-Mahdi has discussed the development of joint oil fields, export of Iranian gas to Iraq and trade of oil products between two countries with Iranian officials during his visit.
Al-Mahdi arrived in Tehran yesterday with intentions to boost bileteral ties in oil and gas sectors.
Iraq shares Azadegan, Yaran, Naftshahr, Azar, and Karkheh oilfields with Iran. Development of these oilfields will bring benefit to both the neighbors.
In November 2014, Iran’s Ambassador to Iraq Hassan Danaifar also showed interest by saying “Iran has potential to boost its annual exports to Iraq to $20 billion”.
The Iran-Iraq annual trade was about $790 million in Iranian calendar year 1385 (March 2006-March 2007), while the figure is over $7 billion currently, he added.
Iraq was the second biggest importer of Iranian non-oil goods in the previous Iranian calendar year, which ended on March 20, 2014, according to the Iran Customs Administration.
Iran exported $5.9 billion of non-oil goods to Iraq and imported $68.4 million of non-oil goods from the Arab country.
