ArmInfo. Armenian Ambassador to Iraq Hrachya Poladyan met with the country's Minister of Commerce Mohammed Hashim Abdul Majeed.
As the press service of the Armenian Foreign Ministry told ArmInfo, the Iraqi minister expressed his conviction that favorable conditions have now been created for increasing the volume of mutual trade.
The parties discussed the potential for the development of trade and economic relations, expressing their conviction that participation in business forums and economic exhibitions held in two countries will contribute to the realization of this goal.
The Iraqi Minister stressed the importance of the participation of Armenian businessmen in the investment forum planned in Baghdad in October this year. The parties stated that there is a serious potential for the development of commodity turnover, especially in the context of the opening in the future of ground communication from Armenia to Iraq. The interlocutors agreed to carry out the necessary work for the preparation and holding of the third Armenian-Iraqi intergovernmental meeting, which is scheduled for the end of the current year.
To note, according to the National Statistical Committee of Armenia, the foreign trade turnover between Armenia and Iraq in 2018 was $ 155.6 million, with a y-o-y growth of 32.5%. Moreover, exports amounted to $ 150.6 million with a y-o-y growth of 28.3%, imports - $ 4.96 million with an increase of 24.6 fold.
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