Iranian First Vice President Es’haq Jahangiri said on Wednesday that promoting Iran-Iraq economic ties requires both sides to sign constructive agreements.

In a meeting with Iraqi Prime Minister Heydar al-Abadi , Jahangiri noted that the two countries are in need of a comprehensive document for economic cooperation to serve as a foundation for mutual economic relations.

Congratulating the Iraqi nation and government on their victories against Daesh, he said that the Iraqi nation made great achievements in preserving its territorial integrity with all plots against the country being foiled thanks to the prudence of the nation and officials.

Jahangiri hailed bilateral relations as very good and constructive, saying that mutual ties which he termed as strategic have reached acceptable levels in many areas.

At present, Iraq has overcome many problems and is strongly pursuing its reconstruction bid, he said, noting that Iran which has been standing by the Iraqi nation is also ready to help it in reconstruction era.

Expressing Iran’s serious resolve to engage in the country’s reconstruction, Jahangiri said that Iran is ready to open a 3-billion-dollar credit line for Iraq so that Iranian companies will be able to have a serious engagement in its reconstruction. 
The senior Iranian official cited banking issues as the main obstacle in the way of bilateral economic relations, calling for suitable measures to be taken to resolve the problem. 

Stressing the need for free trade between Iran and Iraq, he said that free trade can pave the ground for boosting bilateral economic ties.

Iran is ready to bolster cooperation with Iraq in different spheres such as oil and gas, Jahangiri said.

The Iraqi prime minister, for his part, pointed to the two nations’ long-standing ties and historic and religious commonalities, and said nobody can mar the two countries’ ties. 'We are responsible for strengthening bilateral relations in the economic, political and cultural fields.” 

As to the problems facing banking interaction, he said that Iraq is ready to do its best to solve the problems and facilitate banking exchanges. 

Appreciating Iranian companies for their active presence in the country’s reconstruction, Al-Abadi said that Iran’s private sector has made appropriate investments in the field.

Jahangiri, heading a high-ranking delegation comprising political and economic officials, is on a three-day official visit to Iraq.

Iran's Foreign Minister Mohammad Javad Zarif, Minister of Industry, Mine and Trade Mohammad Shariatmadari and Minister of Agricultural Jihad Mahmoud Hojjati are accompanying the First Vice-President in his visit to Iraq.