Moves to launch a barter system for goods and services between Iraq and Iran
Moves to launch a barter system for goods and services between Iraq and Iran
2026-04-25
Shafaq News – Tehran
The head of the Iran-Iraq Joint Chamber announced on Saturday the establishment of a barter system for goods and services between Iran and Iraq as part of the Chamber’s strategic plans for this year.
The head of the chamber, Yahya Al-Ishaq, said in a statement seen by Shafaq News Agency that “the economic relationship between Iran and Iraq is of strategic importance at the commercial and geopolitical levels in the region,” noting that “Iraq is one of the most important destinations for exporting non-oil Iranian goods and services, as it imports billions of dollars worth of goods, technical and engineering services and energy from it annually.”
He added that “this cooperation has contributed to supporting economic growth in both countries, creating job opportunities, developing infrastructure, and enhancing economic convergence,” noting that “religious and cultural commonalities and shared land borders have provided a suitable basis for expanding cooperation in the areas of trade, investment, and transportation.”
Al-Ishaq explained that “the goal is to raise the volume of bilateral trade to $20 billion annually,” noting that “achieving this requires addressing a number of obstacles, most notably the imbalance in the trade balance, administrative and bureaucratic challenges, in addition to the impact of sanctions.”
He noted that “among the proposed plans are the establishment of a barter system for goods and services, the launch of a joint investment platform, the establishment of a financial settlement system between traders, in addition to the establishment of a clearing center, accelerating export operations to Iraq and facilitating imports to Iran.”
shafaq.com
