Iran Sets Up Dairy Factory in Iraq

Iran has set up its first dairy production factory in Iraq with the investment of more than US$3 million. The plant produces 50 tons of dairy products per day, said Mohammad Mehdi Farshchi, the head of Hamedan provincial commerce organization. The factory, funded and built by Iran's private sector, is planned to distribute its products to the Iraqi cities of Najaf, Karbala, Sulaimaniya, Erbil and Baghdad. Farshchi added that 12 Iranian technicians along with 33 Iraqi workers are working in the factory.

Iran and Iraq have increased their political and economic ties after former Iraqi dictator Saddam Hussein was ousted in 2003. According to Iran's Trade Promotion Organization (TPO), Tehran and Baghdad have signed 100 memorandi of understanding since 2003 to boost economic cooperation. Iran has exported US$15 billion worth of goods to Iraq since then. Trade between the two neighbors stands at about US$7 billion per year. - Press TV