Iran and the Kurdistan Region plan joint industrial and commercial city

BAGHDAD, October 30 — The Kurdistan Region of Iraq and Islamic Republic of Iran will form a joint industrial and commercial city, according to the Assistant Governor of Iran’s Kurdistan province, Ali Nouri.

Nouri revealed the plan to the Fars News Agency, saying that all necessary licenses would be issued during Iranian President Ebrahim Raisi’s to his province.

“The joint industrial and commercial city between Iran and the Kurdistan Region will be built within Iraqi territory, and the licenses to be granted by the Iranian government for its establishment are the first of their kind,” he said.

The Bashmaq border crossing linking the Kurdistan Region of Iraq and Kurdistan province in Iran currently sees trade volume of more than $7 billion annually, including imports, exports, and transit. Leaders hope the new joint city will increase trade to as much as $20 billion per year.

“All meetings held with the Iraqi side so far have seen the Iraqi side expressing a desire to launch investments in the Iranian Kurdistan province. It is expected that this province will soon witness the presence of foreign investors from Iraq, Armenia, Russia, China, and Germany,” Nouri added.