TEHRAN – Iran exported more than one billion dollar worth of technical and engineering services to neighboring Iraq in the previous Iranian calendar year 1401 (ended on March 20), according to the country’s commercial attaché to Iraq.

Speaking in a meeting of the Iran-Iraq Joint Chamber of Commerce on Monday, Abdol-Amir Rabihavi said construction projects in Iraq are more profitable than oil projects and it is suggested to enter this sector.

There is also the possibility to send labor force to the country to increase non-oil exports, he added.

He pointed to the construction of industrial towns on the border with Iraq and added that with the coordination made in this regard, five industrial towns are going to be set up on the Iran-Iraq borders.

Iraq can connect the Persian Gulf to Europe in the future, he said, adding that Iran can use the Iraqi route to export its products to Africa and Europe as well.

The official noted that the trade between the two neighbors is mostly carried out in a traditional way so that the exchange of money is either made through FOREX shops or cash fund transfers.

Back in May, Iranian Energy Minister Ali-Akbar Mehrabian said that the export of technical and engineering services to Iraq has experienced significant growth in recent years.

Speaking to the press after a meeting with Iraqi Minister of Electricity Ziad Ali Fazel in Baghdad, Mehrabian said: “There have been significant exchanges in exporting technical and engineering services in the field of electricity industry between the two countries.”

Mehrabian stated that capable Iranian companies have built power plants in Iraq, saying: “In addition to exchanging experience regarding the maintenance and repair of power plants, network development, etc., good negotiations have also been held in other fields.”

Also, in a meeting with Iraqi Minister of Water Resources Aoun Dhiab Abdullah, Mehrabian emphasized the need for the development of bilateral relations in the water industry and noted that Iran is ready to implement joint water projects with Iraq.

He stressed that promoting the level of cooperation with neighboring countries, especially Iraq, is one of the priorities of the administration of President Ebrahim Raisi.

The relations between Iran and Iraq are presently ‘amicable and friendly’ but efforts should be made to improve and expand the level of the ties in the future at the highest level, the minister emphasized.

EF/MA