Iraqi Oil Minister Adil Abd Al-Mahdi will arrive in Tehran to discuss ways to boost bilateral ties in oil and gas sectors, the IRNA News Agency reported.
Al-Mahdi is planned to hold talks with Iranian officials on a range of issue, including the development of joint oilfields, the exports of Iranian gas to Iraq, and the trade of oil products between the two countries.
Iran shares Azadegan, Yaran, Naftshahr, Azar, and Karkheh oilfields with Iraq.
In November 2014, Iran’s Ambassador to Iraq Hassan Danaifar said Iran has potential to boost its annual exports to Iraq to $20 billion.
The Iran-Iraq annual trade was about $790 million in Iranian calendar year 1385 (March 2006-March 2007), while the figure is over $7 billion currently, he added.
Iraq was the second biggest importer of Iranian non-oil goods in the previous Iranian calendar year, which ended on March 20, 2014, according to the Iran Customs Administration.
Iran exported $5.9 billion of non-oil goods to Iraq and imported $68.4 million of non-oil goods from the Arab country.
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