High-profile Iraqi economic delegation due in Iran

TEHRAN,Aug.13(MNA) - A high-ranking Iraqi economic delegation, headed by Deputy Prime Minister, Rowsch Nuri Shaways, will travel to Iran Tuesday to explore ways to give a boost to bilateral ties. Iraqi Ambassador to Tehran Mohammad Majeed al-Sheikh told that Finance Minister Rafi al-Issawi, Trade Minister Khairalla Hasan Babiker, Industry and Minerals Minister Ahmad Nassar Dali al-Karbouli, and Central Bank Governor Central Bank Of Iraq Governor, Sinan Shabibi will accompany the deputy premier. The establishment of a bank in Iran will be proposed by the Iraqi delegation, aimed to facilitate payments related to the two-way trade, he noted. Iran claims sums of money from Iraq for exporting electricity to that country, the official said, adding that the finance minister and the central bank governor will settle the issue with Iranian officials. Iranian Ambassador to Baghdad Hassan Danaifar said in May that the value of trade between Tehran and Baghdad hit $11 billion in the past Iranian calendar year (ended March 19, 2012). Danaifar said that electricity exports as well as oil derivatives, including diesel fuel and kerosene, accounted for three billion dollars out of the total figure, while non-oil exports constituted $8 billion, according to Press TV. The Iranian envoy stated that Iranian and Iraqi airlines offer some 140 flights between Tehran and Baghdad on a weekly basis. Earlier in April, Iranian President Mahmoud Ahmadinejad said in a meeting with Iraqi Prime Minister Nouri al-Maliki that there was no barrier to the development of political, economic and cultural relations between Iran and its western neighbor.