TEHRAN (Iran News) – Iran to Open Trade Center in Sulaymaniyah of Iraq. Director-General of Iran’s Trade Promotion Organization (TPO)’s Office of Arabian and African Countries says Iran will soon open its trade center in Sulaymaniyah of Iraq.

Announcing the news, Farzad Piltan said that the trade center and permanent exhibition of Iran products and services will be inaugurated very soon in Sulaymaniyah in line with the policies of the TPO for facilitating the entry of Iranian goods and companies to Iraq’s market.

He added that this center will be on a 5700-square meter land and in four storeys.

Meanwhile spokesman for the Islamic Republic of Iran Customs Administration (IRICA) said that country’s export of products to neighboring Iraq in the first five months of the current Iranian calendar year registered a 31 percent growth.

Seyed Rouhollah Latifi broke the news and reiterated that Iran’s export of products to Iraq from March 21 to August 21 showed a 31 percent hike as compared to the same period of last year.

Turning to Iran’s import of products from Iraq, he stated that Iran’s import of products from neighboring Iraq registered a 430 percent growth from March 21 to August 21 in terms of value.

As the adverse effects of coronavirus, COVID-19, pandemic became ineffective on foreign trade, country’s economic exchanges grew and this issue caused Iraq to be introduced as second trader partner of the Islamic Republic of Iran, Latifi emphasized.

Islamic Republic of Iran exported more than 12,024,000 tons non-oil products, valued at $3,163,343,248, to Iraq from March 21 to August 21, showing a 53 and 31 percent growth in terms of volume and value respectively as compared to the last year’s corresponding period.

In this period, Islamic Republic of Iran imported 313,612 tons of products, valued at $175,989,687, from Iraq, registering a 970 and 430 percent hike in terms of volume and value respectively, IRICA spokesman opined.

According to the latest statistics of IRICA, Iran’s total foreign trade in the first five months of the current year hit $34 billion.