Iran, S Africa trade volume to hit $1bn by 2022

Iran, S Africa trade volume to hit $1bn by 2022

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The Gaza Post|The News of Palestine-Tehran

An official in charge of Trade Promotion Organization of Iran (TPOI) Farzad Piltan said that trade volume to be exchanged between Iran and South Africa will hit $1 billion by 2022.

The Director General of Trade Promotion Organization of Iran for Arab and African Affairs Farzad Piltan pointed to design development plan for increasing trade volume exchange between Iran and South Africa to $1 billion by 2022 and said, “effective steps should be taken in line with removing obstacles facing ahead especially in the field of banking problem.”

Speaking in Iran-South Africa Business Forum, held at Iran Chamber of Cooperatives, pointed to the investment opportunities between the two countries and said, “Islamic Republic of Iran attaches great importance to South Africa and intends to enhance its cooperation with this African country.”

He placed special emphasis on the necessity of expanding and developing bilateral trade and business relationship and reiterated, “investment and trade opportunities with South Africa has been planned at TPOI in order to take advantage of all capacities and potentials of the two countries appropriately.”

Elsewhere in his remarks, Piltan pointed to the obstacles facing ahead for the development of trade exchanges between the two countries and said, “we request the South African side to take effective steps for the removal of existing problems.”

It is hoped that cooperatives sector, which is one of the most important sectors of economy in the country, will pave suitable ground for accelerating trade and business cooperation between the two countries, he maintained.

In conclusion, Director General of Trade Promotion Organization of Iran for Arab and African Affairs Farzad Piltan put total Iran’s export volume to South Africa in the past Iranian calendar year in 1396 (ended March 20, 2018) at $42.7 billion.

Source:Meher

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