TEHRAN- Iranian businessmen are exploring expansion of trade and exports opportunities in Philippines, Malaya Business Insight reported on Monday.
Oil, fertilizer, coal, and cement are the fields of interest.
The governments of Iran and the Philippines are exploring the possibility of sourcing crude oil from the former which would be refined in a third country for export to the Philippines at a lower price.
The Philippines currently buys oil and petrochemical products from traders in Singapore at 40 percent markup, however, Iran could similarly purchase the same 20 percent cheaper than what it currently buys.
date: 14 November 2017 id: 15003 source: Tehran Times