Iran, Iraq Seek Broader Energy Ties
The Iraqi capital, Baghdad, hosted an exclusive exhibition in February showcasing Iran’s industrial products and services. A total of 250 Iranian companies including energy firms attended the event.
Iran’s petroleum industry was presented in the exhibition by a number of companies including Iran Oil Terminals Company (IOTC), National Iranian Oil Refining and Distribution Company (NIORDC) and Iran’s Offshore Engineering and Construction Company (IOEC).
On the sidelines of the exhibition, several projects were proposed for cooperation between Iranian and Iraqi oil companies.
Iran’s exhibition in Baghdad was inaugurated by Iranian first vice-president, Es’haq Jahangiri.
Addressing businessmen on the sidelines of the event, he said that Iranian and Iraqi officials are both determined to upgrade the level of relations. “To that effect, economic activists and businessmen of both countries can play a leading and determining role.”
Jahangiri said Iranian and Iraqi officials are expected to remove obstacles to further economic cooperation between the two countries.
“On behalf of the Iranian government, I emphasize the serious determination of the country for upgrading economic and trade ties with Iraq and I am sure that the Iraqi government officials and the prime minister are determined enough to that effect,” he said.
Jahangiri said the road towards development of Iran-Iraq relations is irreversible, and more efforts have to be made for broader relations.
Oil-Independent Economy
Jahangiri referred to the sharp fall in oil prices, saying: “Oil price slump poses a serious challenge to both Iran and Iraq. Therefore, the two countries have to take serious steps for boosting economy and industry without reliance on oil.”
“Economic interaction between investors, businessmen and industrialists in Iran and Iraq contributes effectively to broader relations between the two countries,” he said.
Iran, Iraq Industry Ministers Meet
Iran’s minister of industry, mine and trade, Mohammad-Reza Nematzadeh, and his Iraqi counterpart met on the sidelines of the exhibition and exchanged views about development of cooperation between the two countries in different sectors.
The ministers reviewed such suggestions as Iran sharing experience with Iraq in privatization, development of cooperation in mine exploration and geology, reconstruction of old and decrepit industries, joint venture projects, exchange of industrial delegates, development of technical and management training and encouraging the presence of Iranian companies in Iraq.
Oil Joint Ventures
Chief among issues mentioned by Iranian officials are proposed cooperation in reconstruction, renovation and construction of refineries in different cities of Iraq. Iran’s gas delivery to Kuwait via Iraq was also discussed and the Iraqi side agreed to cooperate to that effect. The Iraqi oil minister invited qualified Iranian companies to bid for Iraqi oil projects.
Iran National Standards
Iraq also recognized Iran’s national standards for export of commodities to Iraq. For the introduction of Iranian commodities to Iraqi businessmen, a permanent Iran trade center was proposed to be set up in Iraq. Iraqi officials promised to be cooperative and provide the necessary facilities to that effect.
Development of trade transactions between the two countries, request from Iran for holding regular exhibitions in different cities of Iraq, Iran’s supply of basic commodities to Iraq, removal of obstacles to delivery of Iranian goods to Iraq, exchange of trade delegates, following up on the finalization of agreements signed between the two countries and joint ventures were among other issues discussed in meetings between Iranian and Iraqi officials.
IOTC attended Baghdad exhibition on behalf of National Iranian Oil Company (NIOC) and as the exemplary company in providing technical and engineering services in oil, gas condensate and petroleum products’ exports as well as lab services.
Crude oil storage, terminal operation, marine environment and bioremediation, upgrading crude oil, gas condensate and petroleum products’ exports processes as well as chemical lab services for crude oil and gas condensate were among IOTC potentialities showcased in the exhibition. These capabilities were welcomed by many Iraqi oil activists.