Iran President Pezeshkian visits Iraq to strengthen trade ties

Iran's President Masoud Pezeshkian embarked on his inaugural foreign trip to Iraq, aiming to strengthen bilateral relations amid increasing Western sanctions. His three-day visit commenced with a meeting with Iraqi Prime Minister Shia al-Sudani, where they discussed various agreements and regional issues, including the ongoing Gaza conflict. Pezeshkian's agenda also included talks with Kurdish officials in Erbil, highlighting the importance of Iraq for Iran's economic stability. The Iranian president's visit is significant as it comes at a time when Iran is facing severe economic challenges due to US-led sanctions, particularly after the US withdrew from the nuclear deal in 2018. The two nations are expected to sign around 15 memorandums covering trade, agriculture, and security, reflecting Iran's need for the Iraqi market and energy imports. Non-oil trade between Iran and Iraq has exceeded $5 billion in recent months, underscoring the economic interdependence. Additionally, the visit is set against a backdrop of regional tensions, particularly the recent escalation of violence in Gaza, which has implications for Iran-backed groups in the region. The Iranian government is keen to bolster its influence in Iraq, especially following a security agreement signed last year aimed at disarming Iranian Kurdish rebels. Pezeshkian's diplomatic efforts are part of a broader strategy to mitigate the impact of sanctions by enhancing ties with neighboring countries. His administration's focus on economic cooperation and regional stability reflects a pragmatic approach to foreign policy in a challenging geopolitical landscape.