"As we brotherly stood beside the Iraqi nation and government in fighting against terrorism and other crises, we will stand beside our brothers in the economic field too," Masjedi said, addressing the Iranian and Iraqi economic activists in Baghdad on Wednesday night.
Calling on the Iranian firms to increase their presence in Iraq, he asked the Iraqi officials to pave the ground for their participation in Iraq's development by removing the obstacles.
His remarks came after Secretary General of Iran-Iraq Chamber of Commerce Seyed Hamid Hosseini underlined that a sum of $500 million has been allocated for financing projects of Iranian companies in the neighboring country of Iraq.
"Iraq is a big regional market for Iran and it needs different products and services, specially railway construction, telecommunications, electricity, oil swap and tourism development," Hosseini said on Monday.
He underlined that Iran's Resistance Economy Headquarters has recently allocated a 500-million-dollar budget to supply the Iranian companies in Iraq.
In February, Iran agreed with Iraq to help the Arab country design and build industrial townships in some Iraqi provinces.
