ERBIL, Kurdistan Region – The Kurdistan Region on Wednesday welcomed Iran’s nuclear deal with world powers, with President Masoud Barzani saying he hoped for peace to the region and Prime Minister Nechirvan Barzani hoping for better economic ties with Tehran.

Under a historic deal with the five permanent members of the UN Security Council and Germany agreed Tuesday in Vienna, Iran agreed to curbs on its nuclear program in exchange for an easing of decades-long economic sanctions.

“The Kurdistan Region Presidency hopes that the nuclear deal between Iran and the 5+1 group will bring stability and prosperity and reduce tensions in the area and serve world peace and security,” presidential spokesman Omed Sabah said in a statement.

Prime Minister Barzani, meanwhile, said separately he is confident that the agreement “will expand and develop multifaceted relations between the Kurdistan Region and the Islamic Republic in all fields.”

The Kurdistan Region shares a hundreds-of-kilometers long border with Iran, with annual trade between the two totaling some $6 billion.

Rudaw