Iran and Iraq are in the last stages of moving forward on a pipeline sending crude from Iraq to Iranian refineries and potentially a pipeline sending fuel back to Iraq.

Iran has also signed deals recently to build power plants in Iraq.

Iran's Press TV reports Iranian businesspeople will be shown opportunities to invest in Iraq's oil sector.

"The 30-member delegation will be composed of decision makers and consultants in the Iraqi Oil Ministry and traders from Iraqi Kurdistan and the southern part of the country and has the chance to become familiar with the potential of Iranian companies to design and implement oil projects," said Medhi Saleh Olwan, the head of Iraq's delegation.

The Fars News Agency reports the delegation will tour Iran's hydrocarbons sector, such as construction of tools and equipment needed in the industry, as well as petrochemical, upstream and downstream sectors. A trade fair in Tehran has also been organized.