The abolition of the dollar in trade between Iran and Iraq

The abolition of the dollar in trade between Iran and Iraq



02-09-2018 04:58 PM

The Euphrates -

The head of Iran-Iraq Chamber of Commerce Yahya al-Ishaq said on Sunday that the currency of the dollar had been canceled in trade between Iran and Iraq and would be replaced by the euro, the Iranian riyal and the Iraqi dinar.

The dollar deal between Iran and Iraq has been canceled and most of the exchanges will be in the euro, the Iranian riyal and the Iraqi dinar, Mehr news agency quoted Al Ishaq as saying.

He added that another part of the exchange between Iranian exporters and Iraqi traders will be in accordance with the exchange of goods or in a consensual manner.

"With 8 billion dollars of trade volume between Iran and Iraq, the volume of money transfer between the two countries is very low through banks," he said.

"Solving banking issues should be the main priorities of the Iranian economy, because at the worst of times we have a $ 8 billion trade exchange with Iraq," he said of the obstacles to the establishment of a joint Iranian-Iraqi bank.

"Iran's exports to Iraq are very different from exports to China, because most of Iran's exports to China are made up of petrochemical products, while Iranian traders export various products from tomato paste to Iraq," he said. To the construction materials, which contributes to the provision of many jobs'.

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