Iranian bank in Basra soon, says consul

BASRA / IraqiNews.com: The Iranian consul in Basra said on Monday that an Iranian bank will be opened soon in the province to develop the commercial movements between the two sides. “Iran is working to open a bank in Basra as a step toward the development of the commercial and economic movement between Iran and Basra,” Mohammad Reda told IraqiNews.com news agency. “The trade volume between Iraq and Iran reaches $4 billion last year,” he said, noting that he hopes that this figure could rise to $10 billion in the coming years. Basra is 590 km south of Baghdad. SH (P)/SR 1