Speaking after a second joint business committee of Iran and Iraq in Tehran on Monday, Mehdi Zeighami said that the committee had reviewed programs, infrastructure, and solutions for the two neighboring countries to reach $20 billion in annual trade in the near future. 

Zeighami said, however, that bilateral annual trade can reach $40 billion in the long run.

The PMO chief said despite serious sanctions imposed on Iran in recent years, the country is ready to transfer its experiences on industrial projects to Iraq.