News
Iran launches dairy factory in Iraq
Iran has set up its first dairy production factory in Iraq with the investment of more than $3m. The plant produces 50 tonnes of dairy products a day.
The factory, funded and built by Iran’s private sector, is planned to distribute its products to the Iraqi cities of Najaf, Karbala, Sulaimaniya, Erbil and Baghdad.
Iran and Iraq have increased their political and economic ties since former Iraqi dictator Saddam Hussein was ousted in 2003. According to the Trade Promotion Organization of Iran, Tehran and Baghdad have signed 100 memorandums of understanding since 2003 to boost economic cooperation.
Iran has exported $15bn worth of goods to Iraq since then. The annual trade between Iran and Iraq is at $7bn in 2010.
Source: Iran Daily
See also
Latest news
| |