TEHRAN, Feb. 14 (Xinhua) -- Iran and Iraq have signed an agreement to design and build industrial townships in some Iraqi provinces, semi-official Fars news agency reported on Tuesday.
"Industrial townships will provide the opportunity for the Iraqi investors to invest in these regions," Iranian Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh said during a meeting with his Iraqi counterpart Mohammad Shiya al-Sudani in Baghdad on Monday.
There are a total of 750 industrial townships in Iran where over 40,000 industrial and producing units are active, Nematzadeh said, adding that "We will build several sample industrial townships in Iraq."
Iran is also ready to invest in industrial and technological sectors in Iraq and to supply manufacturing machinery to its neighbor, he said.
For his part, the Iraqi minister said that construction of industrial townships is among priorities of the Iraqi industry and mining ministry.
"Given Iran's experiences in building in construction of such townships, Iraqi is willing to cooperate with Iran in this field," al-Sudani added.