Economy

Iran’s security chief due in Iraq for talks after visits to China, UAE

The secretary of Iran’s Supreme National Security Council (SNSC) is set to visit Iraq for talks on ways to remove the obstacles to economic cooperation between the two neighbors.

In a tweet, Nour News, a news portal affiliated with the SNSC, said Iraq, Iran’s second trade partner, would be Admiral Ali Shamkhani’s next destination, following his visits to China and the United Arab Emirates (UAE).

“Protection and promotion of trade exchanges worth over $10 billion necessitate removal of certain challenges imposed on ties between the two countries, acceleration of economic agreements and facilitation on banking cooperation”, read the tweet.

The visit comes more than a week after Iran and Saudi Arabia inked a historic China-brokered reconciliation agreement aimed at restoration of diplomatic relations.

Iraq hosted five rounds of talks between Tehran and Riyadh in the course of the diplomatic process leading up to the deal.

Earlier, Iraq secured the US’s agreement to release Iranian frozen assets worth $500 million, despite the anti-Iran sanctions, with the goal of stepping up trade ties with Tehran.

PIraq heavily relies on neighboring Iran for its energy needs.

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