Yahya Al-Eshaq, the head of the Iran–Iraq Joint Chamber of Commerce said the official trade volume between the two countries has declined from approximately $12 billion last year, primarily due to lower Iranian natural gas exports, as reported by Iranian YJC News Agency.
Speaking about the impact of recent restrictions on bilateral trade, Al-Eshaq said that while trade relations have faced several challenges, both countries are working on solutions, with some measures being implemented in cooperation with Iraqi authorities.
Referring to Iraq’s oil exports, he noted that, thanks to agreements between the Iranian and Iraqi governments, Iraqi oil exports have not encountered any major disruptions. He added that issues arising from regional transportation restrictions have largely been manageable and that export operations continue.
Al-Eshaq identified disruptions in Iran's trade with the United Arab Emirates (UAE) as one of the most significant current challenges. He explained that around $12 billion worth of goods entered Iran's trade network annually through the UAE, particularly via Jebel Ali Port, while total bilateral trade between Iran and the UAE amounted to roughly $20 billion per year. Recent developments have created difficulties for both goods currently stored at Jebel Ali and new import orders.
He said negotiations are underway and the necessary infrastructure is being developed to redirect part of these shipments into Iran through Iraq. Alternative routes, including Karachi, India, and other transit hubs, are also being evaluated, although the Iraqi corridor has become one of the primary options for addressing the problem.