U.S. Sanctions against Iran are illegal, so we will be able to market Iranian products such as petrochemicals and oil derivatives and Iraq can become a transit route for Iranian goods, head of the Basra Chamber of Industry Majid Abdullah said to ILNA.
He added that we are prepared to supply some goods, such as automobile tires, Brazilian sugar and textile raw materials from Iranian factories.
“Baghdad can import Iran's needs through its ports. In fact, Iraq has the full potential to be a transit route for Iranian goods.”
Speaking to ILNA news agency correspondent, Majid Abdullah said so far, more than 500 Turkish companies have been registered in Iraq, and recently Saudi Arabia, the United Arab Emirates and Jordan are also increasing their number of companies in Iraq.
“Iran is now the second supplier of Iraq after China, but with regard to investments in Iraq and recent actions against Tehran, Iran ranking may change in the next two years,” Iraqi official added.
Iran has exported $ 2.5 billion worth of goods to Iraq in the past 100 days which indicates a 20% spike compared with the corresponding period in the last year.
Back in May, Iraqi Prime Minister Adel Abdul Mahdi in a meeting with US Secretary of State Mike Pompeo underlined that Baghdad will not loosen relations with Iran despite Washington's sanctions.
Also in May, Iraqi Power Minister Luay al-Khateeb announced that Baghdad has informed the US that it will not comply with the US’ unilateral sanctions against Tehran as the Arab country still needs Iran’s gas and electricity.