Tehran and Baghdad have agreed on designing and building industrial townships in some Iraqi provinces, a report said.

The agreement was reached in a meeting between Iranian Industry Minister Mohammad Reza Nematzadeh with his Iraqi counterpart Mohammad Shiya Al Sudani in Baghdad on Monday, Irna reported.

“Industrial townships will provide the opportunity for the Iraqi investors to invest in these regions,” Nematzadeh said.

He said that there a total of 750 industrial townships where over 40,000 industrial and producing units are active. “We are ready to build several sample industrial townships in this regard in Iraq,” he added.

The Iranian industry minister also voiced his country’s willingness to invest in industrial and technological areas as well as supplying of manufacturing machinery in Iraq.

His Iraqi counterpart said that construction of industrial townships is among priorities of the Iraqi industry and mining ministry.