MoU signed with Iranian institution

BAGHDAD / IraqiNews.com: An Iraqi trade delegation signed a memorandum of understanding (MoU) with an Iranian institution to boost multilateral cooperation between the two countries. “An MoU has been signed by Qeshm institution and a group comprising over 10 Iraqi traders, in addition to a representative of the Iraqi Ministry of Trade and the chairman of the union of Iraqi traders and industry men,” the Iranian news agency IRNA quoted the deputy director of the institution, Ali Dahqan, as saying. The MoU promotes trade cooperation, particularly the transit of goods from Qeshm area to Iraq, Dahqan noted. Qeshm is an island situated in the Strait of Hormuz off the south coast of Iran and east of the Persian Gulf. The island, which hosts a 300 square kilometer free zone jurisdiction, is 135 km long, and lies strategically in the Strait of Hormuz, just 60 kilometers from the Omani port of Khosab and about 180 kilometers from the UAE port of Rashia. In the Iranian year 1369, equivalent to 1991 in the Gregorian calendar, the island was transformed into a “Trade and Industrial Free Area” with the goal of creating the largest Free Area between Europe and the Far East. SS (S) 1