Iran to expand trade ties with Africa, sees continent as stable market

2023-08-01 18:41:49
Iran to expand trade ties with Africa, sees continent as stable market

A senior Iranian official says Tehran is looking for ways to expand trade ties with African countries, saying the Islamic Republic views the continent as a stable market.

Mehdi Safari made the remarks in the first meeting of "Iranian Trade Centers Abroad" held in Tehran on Monday, where he also reiterated that the 13th government under President Ebrahim Raeisi has prioritized the development of trade with neighboring countries.

In addition to neighboring countries, Tehran has developing relations with African and Latin American countries on its agenda, the Deputy Foreign Minister for Economic Diplomacy said, adding that "The main goal is to earn money and generate revenues for the country."

He further said the goal of generating revenues for Iran can be materialized through different ways of technical and engineering services, transit, other exports, imports, and technology.

Referring to the good export potential in Africa for Iran, Safari emphasized that, "In order to develop trade relations, a proper balance must be created between exports and imports."

He added that the Iranian government seeks not only to expand trade relations with neighbors but also it is going to increase its shares in the African market.

Stressing that Iran can make an economic leap with the African continent and gaining a larger share of the Latin American market, the senior economic diplomat added, "The stabilization and development program in the existing markets and the expansion of new markets is one of the plans pursued by the 13th government."

He further pointed out that, "Turkey has acquired a $30 billion share from the African market, and Iran can also increase its current figures of $1 or 2 billion to dozens of billions of dollars a year."


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