TEHRAN, Nov. 17 (Xinhua) -- Iran and Iraq announced here on Saturday that both are ready to boost cooperation in all sectors despite the U.S. sanctions.

The remarks were made in a meeting between the Iranian President Hassan Rouhani and his visiting Iraqi counterpart, Barham Salih.

Iraq is determined to expand comprehensive ties with the Iran in his term, Salih said according to the Press TV.

Baghdad attaches great significance to the expansion of its relations with Tehran, he said, adding that much work still needs to be done to elevate the current level of bilateral relations to a new high.

The Iraqi people would never forget Iran's support for them in fighting terrorists, Salih was quoted as saying.

Also, Rouhani said his country would try to raise the level of annual trade between the two neighbors.

"The economic trade between the two countries hits about 12 billion U.S. dollars (per year) and, through bilateral efforts, we can raise this figure to 20 billion dollars," Rouhani said.