Tehran-Baghdad trade to hit $20bn: Iran minister

[MOHSENAM]

Iranian Minister of Economic Affairs and Finance Ali Tayyeb-Nia says the volume of trade transactions between Iran and Iraq will reach USD 20 billion over the next three years.

In the signing ceremony of an economic and investment agreement between Iran and Iraq in Tehran on Monday, Tayyeb-Nia said Tehran and Baghdad seek to further increase their bilateral trade and economic cooperation.

The Iranian minister put the value of the 2013 trade exchanges between Iran and Iraq at USD 6 billion.

He said that the value of Tehran-Baghdad transactions, including technical and engineering exports, gas and electricity export and transit hit USD 12 billion in 2013.

Iraqi Deputy Prime Minister for Economic Affairs Rose Nuri Shaways and Deputy Finance Minister Safa al-Din al-Safi were present at the signing ceremony.

The Islamic Republic of Iran sees no limit in its relations with other countries, particularly Iraq, the Iranian minister said in a meeting with Nuri Shaways.

Nuri Shaways, for his part pointed to the friendly and brotherly ties between Iran and Iraq, voicing his country’s resolve to enhance ties with the Islamic Republic.

Heading a high-ranking 23-member economic delegation, Nuri Shaways arrived in Tehran on Sunday.

Earlier in December 2013, Iranian First Vice President Es’haq Jahangiri said Iran, given its great scientific and economic potential, is ready to help rebuild Iraq. He made the remarks in a meeting with Iraqi Prime Minister Nouri al-Maliki in Tehran, where the Iraqi premier welcomed the contribution of Iranian firms to the reconstruction of his country.

 

[doritos]

we need local production, not imports.

at least they are producing the cars now more

 

[Malik Alashter]

The question is what Iranian can offer us for 20 billions that's the 1 million $ QUESTION what they can offer us. You know sometime I affraid all the electricity projects idling so they can import iranian electricity the refinery projects idling for the same reason!! I just express worries.

 

[mohsen]

The question is what Iranian can offer us for 20 billions that's the 1 million $ QUESTION what they can offer us. You know sometime I affraid all the electricity projects idling so they can import iranian electricity the refinery projects idling for the same reason!! I just express worries.

20b$ is the amount of transaction, not just export. and about what we can export, the answer is the same thing which we are exporting today plus 60% more. now where is my 1m$ ?

 

[Sam1980]

at least they are producing the cars now more

What kind of cars Iraq manufacture?

 

[doritos]

What kind of cars Iraq manufacture?

These Sedans + Nissan, trucks Volvo & Renault

Workplace, not fully automated ( robots ) yet :

Site Total Area : 340,000 m*m

Total Capacity : 110,000 Vehicle/Year

Working time : 22 Hours/ Day

Working Shifts : 3 Shifts/Day

Working Days : 250/ Year

Capacity : 20 Vehicle/ Hours

Production Brand : LIFAN,BYD

Number Of Active Worker s : 1600 Person

Number of non Active Workers : 7500 Person

 

[Shapur Zol Aktaf]

we need local production, not imports.

at least they are producing the cars now more

If production is more expensive than importing then you're wrong. Also importing some goods like machinery could help production. Nationalistic/communist way of thinking about economy never worked.

 

[Abii]

If production is more expensive than importing then you're wrong. Also importing some goods like machinery could help production. Nationalistic/communist way of thinking about economy never worked.

Sure, but local production in Iraq is indeed cheaper for them than imports.

American companies and government are there to help them and with the country's large pool of workers, they can have a great manufacturing industry 10-20 years from now, and they will. Labor is cheaper in Iraq than a lot of surrounding countries, the Americans are ready to invest and consult and they've got a lot of skilled laborers that are unemployed right now. On top of all that is oil money that's flowing in the country. Every year their oil income grows more and more as their oil fields are developed more and more every year.

 

[Shapur Zol Aktaf]

Sure, but local production in Iraq is indeed cheaper for them than imports.

American companies and government are there to help them and with the country's large pool of workers, they can have a great manufacturing industry 10-20 years from now, and they will. Labor is cheaper in Iraq than a lot of surrounding countries, the Americans are ready to invest and consult and they've got a lot of skilled laborers that are unemployed right now. On top of all that is oil money that's flowing in the country. Every year their oil income grows more and more as their oil fields are developed more and more every year.

Other factors play a role: water supply, electricity, infrastructure, expertise, security etc. They could have good industry in 10 to 20 years, but not at the moment. First they must defeat terrorism and bring stability. Even in this they are failing.
ISIS buys best military equipment...from where? Iraqi army!!!??

 

[doritos]

If production is more expensive than importing then you're wrong. Also importing some goods like machinery could help production. Nationalistic/communist way of thinking about economy never worked.

Gas will still be imported from Iran since Iraq's gas fields are not yet developed, they have been forgotten for decades, the gas is mainly needed to fuel the gas power plants.

Currently they are importing food products & medicine which they could produce locally instead, though with that comes worse quality and bad hygiene as we know how the ME is, no rules on that. At least they started with the automotive industry which is a big thing since it's going to go in the direction of military industry as well which is the most needed currently, importing armored vechiles from the global powers brings huge cost of transportation since they are needed in the number of thousands.