Iraq Promised to cooperate in the Financial and Banking dealings with Iran


Iraq has decided to start the financial and banking dealings with Iran. Iraq knows the importance of relations between two countries and promised to remove the problematic issues between both sides.

The Iranian sources informed that the Iranian Minister of Industry, Mines and Trade Muhammad Raza Nematzada met with the Governor of Iraqi Central Bank Ali Mohsin. The Governor said that cooperation in trade and investment is considered the most essential element in the current situation. Iraq has promised for the development in finance and banking trade between both countries. Iraq ensured to follow up seriously to the major and important problematic issues and we need to eliminate any kind of obstacles prior to start transaction in finance and banking between both countries.

The Iranian Minister also met with the President of Iraqi National Council for investment if Iraq, Sami Al-Araji in Baghdad. Iranian Minister announced that Iran is interested for the joint investment in the industrial projects in Iraq. Al-Araji also suggested in the meeting that a memorandum of understanding between both countries should be prepared for the joint investment in Iraq. It is important that Iraqi National Council for investment has various under construction projects. He pointed out that Rumaila electricity station has the capacity of 300 MW in the southern Iraq. He added that a number of Iranian companies would participate for the investment in this important and major project. He said that there are a large number of opportunities for the participation in Agriculture, Oil and Gas, Electricity and Communications. We also need to take advantage of Iranian technical sciences by the Iranian companies.

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