Iran, Iraq to sign 23 deals on tnergy, trade, investments, 5 MAY

Iran, Iraq to sign 23 deals on tnergy, trade, investments

Shafaq News/ Iran and Iraq are poised to sign 23 cooperation agreements on energy, transportation, trade, investments, and banking, the head of Iran's investment organization, Ali Fekri said on Sunday. 

These agreements are expected to be finalized during the ongoing sixth meeting of the Iran-Iraq Joint Coordination Committee for Economic Cooperation in Tehran.

Ali Fekri said the deals would touch on "energy, transportation, trade, technical and engineering services, investments, financing, and banking."

The two-day meeting will be platform to iron out the specifics of these agreements. "Subcommittees will initially discuss into the proposed initiatives," Fekri explained to Iran's Tasnim news agency. "This paves the way for drafting memoranda of understanding and documents that will be officially signed during the visit of senior officials from both countries in the coming days."

"Five subcommittees will be dedicated to each of the aforementioned sectors," he said. 

The signing ceremony is scheduled for the afternoon following a public meeting between the Iranian Minister of Economy and the Iraqi Minister of Trade.

Beyond the initial 23 agreements, Fekri said talks are underway on additional projects." These include joint ventures for industrial zone development, initiatives aimed at balancing economic relations between the two nations, and collaborative investments. Addressing trade barriers, both in financial and legal spheres, is also on the agenda." 

The Iraqi delegation, led by Trade Minister Atheer al-Ghurairi, arrived in Tehran on Sunday to participate in these discussions. According to a statement from the Iraqi Ministry of Trade, the committee will hold discussions throughout the day with representatives from both sides. These sessions aim to finalize the joint minutes, which will be formally adopted at the Iranian Ministry of Economy and Finance headquarters.