Irans Ambassador to Iraq Hassan Danaeefar said on Saturday that Iraq is a major market for Irans technical and engineering services.
Danaeefar made the remarks in a meeting with Iran Non-Oil Exports Working Group in Ilam Governorate General Office.
Danaeefar said that Iraq market is capable enough to absorb $500 billion investment in the technical and engineering sector inviting the Iranian companies to make investment in Iraq.
He said Iraq government has carried out large-scale investment in reconstruction of the countrys infrastructure.
He added that Iraqs 2014 budget has envisaged $120 billion for investment, $30 billion of which allocated for the development projects.
He said that Iran has made good contribution to the infrastructural projects and supplying Iraqi market with basic commodities.
Iranian exports to Iraq has reached $12 billion a year from $790 million in 2005.
He noted that annually one million Iraqis travel to Iran, nearly 200,000 or 18 percent of whom choose Iran as their medicine and health care destination.
He said Iran University of Medical Sciences should give health and medical services to the Iraqi patients as part of Iranian strategy to develop health tourism.