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Iran’s securities and exchange organization has signed a MoU with its sister organization in Iraq to boost cooperation in different areas of the capital market development.
The Chairman of Iraq’s securities commission has called the move as a sign of the “unique“ relationship between the two neighboring countries.
The MoU seeks to enhance cooperation in areas of developing Islamic financial instruments. developing ICT infrastructure as well as the establishment of joint investment funds.
Over the past months there has been a flurry of visits between the two countries seeking to expand relations in various fields. The event today is just one example of efforts on both sides to facilitate cooperation and remove trade barriers between the two countries.
Iran has placed greater priority in ties with Iraq as it is seeking to mitigate the impact of US sanctions. At the same time Iraq relies on Iran for energy. goods and services.
Iran and Iraq are bound together by centuries of economic. religious and political ties and as the Iraqi envoy noted. the outcome of the MoU. will be seen in the ever-increasing future interactions between Tehran and Baghdad.
