TEHRAN- Based on an MOU signed between Iran and Iraq, the two neighbors agreed on establishment of a joint commodity exchange, IRNA reported.

The MOU was inked in Tehran on Sunday by Iran Mercantile Exchange (IME) Head Hamed Soltaninejad and Basra Chamber of Commerce Head Majed Mozan, who traveled to Iran on Saturday accompanying a high-ranking economic and political delegation headed by Iraqi Prime Minister Adil Abdul Mahdi.

The MOU is aimed at speeding up transparent and secured economic cooperation between the two sides’ businessmen.

The two countries also agreed to create suitable grounds for dissemination of business news to persuade Iraqi businessmen to play active role at the IME in order to meet their demands.

During a business forum held between Iranian and Iraqi businessmen at the place of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) on Sunday Majid Mozan delivered speech, stressing the two countries’ willingness for expansion of economic relations.

The event was attended by several senior officials from both sides including Abdul-Mahdi, Iran’s First Vice President Es’haq Jahangiri, as well as Iranian Energy Minister Reza Ardakanian, Iraqi Minister of Electricity Louay Al Khateeb, Iraqi Trade Minister Mohammad Hashim Abdul Majid Jasim, Iranian Industry, Mining and Trade Minister Reza Rahmani, and Gholam-Hossein Shafeie, the chairman of ICCIMA, along with representatives of private companies.

MA/MA