DUBAI (Multibagger) - Iranian President Masoud Pezeshkian headed for close ally Iraq on Wednesday, on his first official foreign trip, Iran's semi-official ISNA news agency reported on Wednesday.
Iraq hosts several Iran-aligned parties and armed groups. Tehran has been steadily increasing its sway in Iraq since a U.S.-led invasion toppled its enemy Saddam Hussein in 2003.
"We are planning to sign several agreements. We will meet senior Iraqi officials in Baghdad," Pezeshkian, a relative moderate, said ahead of his trip, according to Iran's state media.
Baghdad is also a close ally of Washington.
Analysis:
Iran's President's visit to Iraq signifies a strengthening of ties between the two countries, with potential implications for investments. As Iran increases its influence in Iraq, it may lead to new economic agreements and collaborations between the two nations. This could create investment opportunities for businesses looking to expand into these markets. Additionally, the geopolitical dynamics between Iran, Iraq, and the United States could impact global financial markets, particularly in the energy sector. Investors should monitor developments closely to assess the potential risks and opportunities arising from these relationships.