Iran, Iraq Call for Enhanced Bilateral Ties

(FNA)- Iranian Foreign Minister Mohammad Javad Zarif and Iraqi Oil Minister Adil Abd Al-Mahdi underscored the necessity for expanding all-out bilateral ties between the two countries.

At a meeting in Tehran on Monday, the two officials explored avenues for bolstering Iran-Iraq ties in different fields, stressing that developing bilateral relations plays an important role in improving political and economic conditions in the region.

Zarif and Abd Al-Mahdi also underlined the need for mutual and regional cooperation to fight terrorism.

Also on Monday, Iranian Oil Minister Bijan Namdar Zanganeh and his Iraqi Counterpart discussed new ways to boost Tehran-Baghdad relations, particularly crude production in joint fields.

Zanganeh and al-Mahdi said that time is ripe for development of Tehran-Baghdad relations.

Al-Mahdi arrived in Iran Monday morning at the head of high-ranking delegation for a two day visit.

Iran and Iraq had agreed in July 2013 to pursue development of their joint oilfields through setting up joint companies under a single management. The two countries have also held comprehensive expert talks on the same issue.

Azadegan oilfield is the biggest oilfield which is owned jointly by Iran and Iraq.

Other joint Iran-Iraq oilfields are Yaran, Naftshahr, Azar and Karkheh.

Under the agreement signed in July 2013, the two countries will establish joint ventures to carry out the exploration and development of joint oil and gas fields.

The two sides also agreed to work together to settle territorial and ownership differences.

Iran, which sits on the world's second largest natural gas reserves after Russia, is making efforts to raise its gas production by increasing foreign and domestic investments, especially in South Pars gas field.