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Iran plans Iraq fuel exports

Press TV - Iraqi envoy to Tehran says Iran has agreed to export one million liters of fuel to Iraq to help feed the war-torn country's power plants.

Earlier this month, a high-ranking Iraqi delegation headed by the Iraqi Deputy Prime Minister Burhem Saleh signed the deal in Tehran, Iraqi Ambassador Mohammed al-Sheikh said.

Iran is now Iraq's third most important trading partner.

The trade between the two countries, which share a 1,200-kilometer border, grew from $1.5 billion in 2006 to $2.8 billion in 2007. The volume of bilateral trade is expected to hit $4 billion by the end of 2008.

Iraq imports a wide variety of goods from Iran including construction materials, pharmaceuticals, fruits and spices, fish, air conditioners, office furniture, carpets and textiles.

Iran has also provided a $1 billion loan to Iraq to fund its reconstruction projects.

The Iraqi government has offered long-term tax exemptions to Iranian companies as an incentive to encourage investment in the country.

... Payvand News - 08/20/08 ... --

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