Economy
Zarif to attend Iraq reconstruction conference in Kuwait

Zarif to attend Iraq reconstruction conference in Kuwait


“As the Islamic Republic stood alongside Iraq during the fight against ISIL, it will contribute to Iraq’s reconstruction,” said Iraj Masjedi, the Ambassador of the Islamic Republic of Iran to Iraq.

He also stated that large Iranian companies will be present at the conference, saying “Iran will strongly support the Iraqi reconstruction process.”

Masjedi pointed out that Iran-Iraq trade volume currently stands at 12 billion dollars, adding “we must work more to strengthen the economic and commercial relations between the two countries.”

The ambassador put Iran’s gas export to Iraq at a daily rate of more than 7 million cubic meters, adding that the exported gas is used to feed three power plants in Iraq.

He said that today, 1,000 and 500 megawatts of electricity are exported daily from Iran to Iraq, and 2000 megawatts of electricity are produced at power plants feeding from Iranian gas.

He also noted the value of technical and engineering cooperation between the two countries over $10 billion, which is being carried out by Iranian companies in various parts of Iraq.

Masjedi further explained “one of the latest oil agreements between the two countries is the transfer of 60,000 barrels of oil per day from Kirkuk to southern Iranian ports through Kermanshah.”