Total value of two-way trade between the UAE and Iraq stood at nearly Dh26 billion ($7 billion) in 2016, making Iraq one of the key export markets for UAE, with re-exports accounting for Dh12.3 billion of the total value of trade, said the Federation of UAE Chambers of Commerce and Industry.

UAE and Iraq maintain robust economic and trade relations as Iraq remains one of the key trading partners of the UAE according to statistics of UAE's non-oil foreign trade, Humaid Mohamed bin Salem, secretary-general of the Federation of UAE Chambers of Commerce and Industry was quoted as saying by Wam, the Emirates official news agency.

''Iraq came in the 13th place in the list of UAE's international trade partners in terms of foreign trade in 2016. It was the fourth largest re-export market for UAE, seventh major destination for exports and 25th key market in terms of imports,'' Humaid bin Salem said in a statement to Wam on the sidelines of the UAE-Iraq Trade and Investment Forum, organised by the Abu Dhabi Chamber of Commerce and Industry, in co-operation with the UAE Ministry of Economy, in Abu Dhabi on Monday.

More than 300 Emirati and Iraqi companies operating in different investment sectors attended the event.