Iran, Iraq sign energy MoU

"Iranian companies would use their experience and knowledge in order to develop and reconstruct power industry in Iraq, while the MoU would prepare the grounds for infrastructure by the Iranian side," said Ardekanian.

The memorandum of understanding includes improvement of Iraq's power network, a management system. Meanwhile, Iran's experts are to train the Iraqis for subsequent work in the energy sector.

Iraq's Minister of Electricity Luay Al Khateeb also mentioned the importance of the MoU.

"Iraq's annual electricity needs had grown to 7 percent and the country requires energy sources , Iran is the closest and most trusted source to supply energy to Iraq," he said.