Publish Date: 9 February 2022 - 10:58

Iran prioritizing trade with neighboring countries

Tehran, IRNA - The Islamic Republic of Iran's new administration has attached importance to expansion of trade exchanges with neighboring countries to activate great potential of cooperation among neighbors, like-minded countries, Southeast Asian and African states, an Iranian official emphasized.

Head of Iran's Trade Promotion Organization (TPO) Alireza Peymanpak told Iran Newspaper on Wednesday that the administration of President Ebrahim Raisi has prioritized economic collaboration with regional and neighboring countries; a policy that brought about positive results in Iran's foreign trade and export.
To this end, Arab littoral states of the Persian Gulf are among the main priorities of economic and trade cooperation; therefore, Tehran has stepped up efforts and started negotiations with the United Arab Emirates (UAE) and Oman.
As to a trip by Iranian Minister of Industry, Mine and Trade Reza Fatemi Amin to Muscat, Peymanpak noted that Oman and Iran hold a joint economic commission to review development of collaborations in economic, trade and educational fields, and that a document has been prepared to be signed by both sides.

Issues related to logistics, marketing, banking system, marine transportation, re-export and health tourism are among opportunities and challenges to be discussed, he said.
The TPO chief underlined that re-export and transit are two important issues, adding that Oman is keen on having trade ties with members of the Commonwealth of Independent States (CIS); so, Muscat and Tehran can coordinate in this regard.
Iran is negotiating with Arab states on participation in joint investment projects for export and re-export of goods to countries, where the Islamic Republic possesses Comparative advantage such as Eurasian states, he noted.
Pointing to Iran-UAE relationship, he elaborated that the Arab country is now one of the main trade destinations of the Islamic Republic, adding that during his months-long tenure some UAE tradesmen visited Tehran and that he himself traveled to Dubai.

According to the official, the 13th administration in Tehran gives importance to de-escalation and development of ties with regional nations.
Since neighboring, like-minded, Southeast Asian and African countries possess good potential for cooperation, the Raisi administration prioritizes economic and trade exchanges with these states, he argued.
The TPO is of the opinion that following a potential agreement with the West on lifting sanctions and reviving the 2015 nuclear deal, Iran can enhance ties with the Western countries as well, because there are opportunity, asset, resources and market in these nations, he concluded.

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