Iran and Iraq signed an agreement to facilitate trade cooperation and remove trade barriers between the two neighbors, official IRNA news agency reported Thursday.

The agreement was signed during a recent visit by head of Trade Promotion Organization of Iran and the accompanying delegation to Iraq, Iranian commercial attache to Iraq Naser Behzad told IRNA.

During the visit, Iran-Iraq Joint Trade Committee held a meeting for the first time in Baghdad aiming to boost Iranian traders’ participation in the Iraqi market.

The committee discussed important issues including banking cooperation, standardization of commodities, customs regulations, investment opportunities as well as technical and engineering services beside transportation, Behzad said.

In the meantime, an agreement was signed between the two countries based on which preparations should be made for establishing a joint industrial town, and methods should be developed for verifying the standards and quality of Iranian products.

Besides, the agreement aims to facilitate visa issuance for Iranian businessmen, increase Iranian exhibitions in Iraq, and remove barriers for the Iranian exports to Iraq.