Iran sets up dairy site in Iraq

Iran has set up its first dairy production factory in Iraq with the investment of more than $3m (EUR2.34 million) in a 50 tonne per day plant. The factory is being built and funded by Iran’s private sector and will distribute products in the Iraqi cities of Najaf, Karbala, Sulaimaniya, Erbil and Baghdad.
Iran and Iraq have increased political and economic ties since 2003. According to the Trade Promotion Organization of Iran, Tehran and Baghdad have signed 100 memorandums of understanding since 2003 to boost economic cooperation. The annual trade between Iran and Iraq stands at $7 billion (EUR5.4bn) in 2010.