Trade exchange volume between Iran and Kurdistan Region of Iraq is expected to surpass $4 billion this year as bilateral economic and trade cooperation continues to grow, Fars News Agency reported.
"This year, the maximum value of our trade activities will exceed $4 billion nd such a boost is certainly the result of further cooperation," a local Kurdish official has told Fars News Agency.
Trade and economic relations between Iran and Kurdistan Region have made considerable growth over the past 12 years with 2000 marking only $100 million in trade exchange value. The amount was about $3 billion in 2011.
Economic and trade boost in Kurdistan Region of Iraq marked fast development with the advent of the US-led war in Iraq in 2003. Since then, the semi-autonomous region has been the hotspot of Iraq for economic growth and has attracted billions in foreign investment.
Currently, over 1,500 Iranian companies work in the Kurdish region and Kurdish officials have been seeking to have even a greater presence of Iranian companies to work in the region.