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Fri Sep 13, 2019 11:53 am
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[size=36]Iraq and Iran sign a memorandum of economic cooperation .. These are their objectives[/size]
The chairman of the Iraqi Securities Commission, Alaa Abdul Hussain al-Saadi, and the President of the Iranian Stock Exchange, Shapur Mohammadi, signed on Monday an economic cooperation memorandum that includes the establishment of mutual funds.
"The signing of a memorandum of cooperation with Iraq is one of the most important goals of establishing joint investment funds," the head of the Iranian Stock Exchange, Shabor Mohammadi, according to the Fars news agency, and informed by Mawazin News.
The signing ceremony was held in Tehran on Monday between the head of the Iranian Stock Exchange and Alaa Abdul Hussain al-Saadi, head of the Iraqi Securities Commission.
The memo also includes the establishment of a branch of the Iranian Commodity Exchange in Iraq, the creation of the export and import base of goods through the stock exchange, as well as the provision of legal and technical advice on the capital market.
"The unification of the legal system of the Iranian and Iraqi capital market is one of the provisions of the memorandum which will be followed up by a joint committee."
"With the conclusion of the agreement, the exchange of information and experience with Iran will take place in a specialized and advanced manner," said Alaa Abdul Hussain Al Saadi, head of the Iraqi Securities Commission.
Al-Moussawi added that "the Authority seeks to win the experiences of Iran in the field of securities exchange business."
In turn, Iraqi Ambassador Saad Jawad Qandil, who attended the signing ceremony today, said that "the memorandum is a major step towards cooperation between the two countries, and will contribute to bilateral economic dealings."
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