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EghtesadOnline: As per an agreement between Iranian and Iraqi customs officials, 12 Iranian commodities exported to the neighboring country will be exempt from Iraqi standards control inspections, the head of the Institute of Standards and Industrial Research of Iran said.

Nayyereh Piroozbakht added that the number is expected to increase to 50 in the near future.

The 12 commodities include frozen chicken, tomato paste, evaporative coolers, stove, bricks, socks, as well as different types of tire for bicycle, motorcycle, car, etc., ISNA reported.

According to the official, the Iraqi customs offices will henceforth give the go-ahead for the import of afore-mentioned items that bear the Iranian standards logo, Financial Tribune reported.

Recently, Iran's commercial attaché to Iraq, Nasser Behzad, listed the commodities Iran should prioritize in export to Iraq.

As reported by IRNA, citing the Ministry of Industries, Mining and Trade, top priorities include industrial machinery and equipment; medicines and health equipment; food products; detergents and cosmetics; textile; petrochemical and basic oil products; construction materials; electrical home appliances; cellular products; chemicals and minerals; fruits and ornamental plants; livestock products; industrial and herbal plants; leather; and metal products.

According to Behzad, Iraq imports close to $1.5 billion worth of industrial machinery and equipment, while Iran has a 5% share in this regard. 

Considering the start of Iraqi reconstruction and the need for such machinery, Iraq’s machinery imports are predicted to reach $3 billion in 2018.

Behzad said poor marketing is currently the main impediment to the stronger presence of Iranian businesspeople and traders in Iraq.

In a meeting with Iraqi officials in Baghdad in March, Iran's First Vice President Es'haq Jahangiri said Iran is ready to allocate a credit line amounting to $3 billion to Iraq for rebuilding the war-ravaged areas of the neighboring country.

Iraq was Iran's third biggest export destination in the last fiscal year (ended March 20, 2018) as it imported 13.09 million tons of Iranian goods worth $6.42 billion, which registered a rise of 4.79% compared to the year before.

 

Iran Iraq trade Iran goods Iraqi Standards Exemption