Iranian President Hassan Rouhani addresses the Nelson Mandela Peace Summit September 24, 2018, one day before the start of General Debate of the 73rd session of the General Assembly at the United Nations in New York. 


Don Emmert | AFP | Getty Photos


Iranian President Hassan Rouhani addresses the Nelson Mandela Peace Summit September 24, 2018, in the future earlier than the beginning of Basic Debate of the 73rd session of the Basic Meeting on the United Nations in New York. 




Iranian President Hassan Rouhani stated on Saturday Iran and Iraq may elevate annual bilateral commerce to $20 billion from the present degree of $12 billion.


Rouhani’s remarks, in a gathering with visiting Iraqi President Barham Salih, took place two weeks after america restored sanctions focusing on Iran’s key oil business in addition to its banking and transportation sectors.


“Right this moment, the financial relations between the 2 international locations attain about $12 billion (per yr) and, via bilateral efforts, we are able to elevate this determine to $20 billion,” Rouhani stated in remarks broadcast reside on Iran’s state tv.


Iraqi officers instructed Reuters final week that Iraq has agreed with Iran to alternate Iraqi meals objects for Iranian fuel and vitality provides.


Baghdad is looking for U.S. approval to permit it to import Iranian fuel for its energy stations, and officers say it wants extra time to search out an alternate supply than a 45-day waiver granted to it by america.


Iraq imports a variety of products from Iran together with meals, agricultural merchandise, house home equipment, air conditioners and spare automobile components. The products factor of Iranian imports to Iraq was about $6 billion for the 12 months ending March 2018, about 15 p.c of Iraq’s whole imports for 2017.


There are additionally vitality contracts between the 2 international locations contributing to a quantity of commerce of $12 billion final yr.




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