Agreement With Iraq to Form Courts on Trade

EghtesadOnline: An agreement signed during the Iranian judiciary chief’s recent visit to Iraq entails setting up specialized courts with jurisdiction over economic and trade disputes involving the nationals of the two countries, an official said.

News ID: ۷۸۶۰۱۰

15 February 2021

Speaking at a televised interview on Saturday, Head of the Iranian Judiciary’s High Council for Human Rights Ali Baqeri highlighted the results of the recent visit by Judiciary Chief Ebrahim Raeisi to Iraq, Tasnim News Agency reported.

He said a memorandum of understanding signed during the trip stresses the need for programs to inform the nationals and business people of the two countries about the trade regulations to prevent legal cases from turning into judicial files.

Under the MoU, Iran and Iraq have agreed to form specialized courts in the capitals and in border provinces to work on the economic and trade issues, Baqeri noted, adding that the new decision would have positive impacts on the work of economic activists.

Following the top Iranian judge’s visit, Iraq made arrangements to reopen several border crossings for the shipment of Iranian commodities by land freight.

Iran and Iraq have set a target to increase the value of annual bilateral trade exchanges to $20 billion.