The Iraqi ambassador in Tehran calls for the establishment of a joint bank with Iran

[yota691]

The Iraqi ambassador in Tehran calls for the establishment of a joint bank with Iran

Iraq's ambassador to Tehran, Rajih al-Moussawi, said that the establishment of a joint bank between Iran and Iraq to achieve trade and economic exchange in the currency of the two sides could enhance economic relations between them.

"The economic potential of Iran is very large and I was surprised by this, and perhaps the Iraqis did not see much of this potential," Moussawi said in a speech at the Iran-Iraq trade meeting in Tehran on Sunday.

He said that it is necessary to introduce the Iranian economic and trade potential to establish a permanent exhibition of Iranian products and services in Iraq so that all these experiences and products can be presented there so that many commercial contracts can be concluded between the two countries.

He pointed to the idea of establishing a joint Islamic and regional market by the two countries. He said that most of the international plots are simulated against Iran and Iraq, hence further measures should be taken to consolidate the overall relations between them.

The Iraqi ambassador pointed to the problems of banking and customs and the issuance of visas for entry, stressing the need for both sides to address these problems in light of a serious and firm decision.

Al-Musawi said that linking the two countries' railways to Turkey could be effective in relations with Turkey and even the European Union. The Shatt al-Arab neighborhoods are also very influential in the development of maritime transport.

He expressed his hope that Iran would reach its real economic position by overcoming the embargo. He said that the establishment of a joint bank between the two countries to carry out economic and trade exchange in the national currency of the two parties, as well as the cancellation of entry visas, could have a significant impact on improving economic relations between them.

[yota691]

Just now, yota691 said:

The Iraqi ambassador pointed to the problems of banking and customs and the issuance of visas for entry, stressing the need for both sides to address these problems in light of a serious and firm decision.

Don't forget those US Sanctions  you won't get far with this...

[Wiljor]

ASSESSING THE IMPACT OF SHIFTING IRAN-KRG RELATIONS

Iraq, October 18, 2017  Iran and the Kurdistan Regional Government (KRG) in Iraq have historically been on good terms. During the Saddam Hussein years, Iran was one of the main countries to host Kurdish leaders. In the post-Saddam era, Tehran and Erbil have enjoyed good neighborly relations. This relationship manifested itself in Iranian forces coming to the rescue of the Kurdish regions in their fight against the Islamic State (IS) in the summer of 2014. However, the recent independence referendum in the KRG has angered Tehran, and it is clear that the Kurdish moves will impact on both bilateral ties and wider regional alignments. One important aspect to consider when assessing the fallout between Iran and the KRG following the independence vote is the economic dimension of their relationship in the geostrategic context of Iranian concerns. Iran and the KRG have a multilayered relationship; most importantly, it is not all driven by the government. On the one hand, there are various trade links between the two sides, starting from very active border markets up to cross-border trade and investment. There are five border markets between Iran and Iraqi Kurdistan. Prior to the recent events, there were plans to expand such entities to create jobs and also shift the unofficial trade toward official channels. In fact, the KRG is an important market for Iranian exporters. The trade volume between the two sides amounted to $8 billion in 2014, which made Iran the KRG’s second-largest trading partner, after Turkey. In recent years, Iranian exports to the Kurdistan Region have dropped due to the conflict against IS. Yet, according to Kurdish sources, the trade volume between Iran and the KRG stood at $4 billion in 2016. This means that approximately 40% of the Iran-Iraq trade goes through the KRG. businessnews   http://iraqdailyjournal.com/story-z16065901

[Hotcurl]

I would not open Lemon Aid Stand with Iran much less a Bank.

Just sayin'.....................

Semper Fi

GO RV

[Calijim]

They could just use the money Malarky stole from the Iraqi treasury.