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Iran boosts its annual exports to neighboring country Iraq to reach a total amount of $12 billion in the current Iranian calendar year, which ends on March 20, 2013.
The previous calendar year saw an annual Iranian export to Iraq worth $11 billion. The Chairman of the Economic Development Committee of Iran and Iraq, Ali Saeedlou, recently said that bilateral trade could reach $25 billion in the coming two years.
Iran is involved in different energy sectors in Iraq and engages in the country's projects on petroleum, oil and gas issues.
During a meeting with Iraqi Prime Minister Nouri al-Maliki in April, Iranian President Mahmoud Ahmadinejad said that his country is looking to stimulate the development of political, economic and cultural relations with its neighboring country.