TEHRAN - Iran is set to bolster its maritime trade links with West and Southwest Africa, following a decision by the Africa Committee chaired by the First Vice President, according to Mohammadreza Safari, Acting Director General for Africa at Iran’s Trade Promotion Organization (TPO). This move aims to enhance Iran’s economic footprint on the continent, building on existing shipping routes and trade relationships.

TEHRAN - Oil Minister, Mohsen Paknejad, has described the burning of flare gas as a waste of the country’s natural resources, emphasizing that efforts are underway to address this issue through short- and long-term projects.

TEHRAN - The Iran Steel Producers Association has released data on the country’s steel production for the first 11 months of the Iranian year 1403 (March 21, 2024 – February 19, 2025), reporting a 6.7% decline attributed to ongoing imbalances in the industry.

TEHRAN - The Deputy for International Affairs of the Karaj Chamber of Commerce, Industries, Mines, and Agriculture, Seyed Reza Seyed Aghazadeh, announced the successful hosting of a webinar introducing over 100 investment opportunities in Alborz Province to Chinese investors. The event, attended by representatives from more than 40 Chinese companies, economic officials, and Iran’s consulate in China, marks a significant step toward showcasing Alborz’s potential and attracting foreign investment across diverse economic sectors.

TEHRAN - The Statistical Center of Iran has released the latest producer inflation figures for the month of Bahman (January 21 – February 19, 2025), reporting a monthly inflation rate of 8.4% and a point-to-point inflation rate of 46.5% compared to Bahman of the previous year.

Government spokesperson Fatemeh Mohajerani says Iran’s exports of oil cannot be stopped despite sanctions imposed against the country.

TEHRAN - The National Iranian Oil Company (NIOC) has issued a statement refuting recent media claims about the production of low-quality oil, emphasizing its commitment to maintaining high standards for both domestic and export markets.

TEHRAN - The president of the Khorasan Razavi Chamber of Commerce has emphasized the significance of connecting Iran’s railway network to Pakistan as a vital step toward enhancing commercial ties with the neighboring country.

TEHRAN - The president of Iran’s National Carpet Center, Zahra Kamani, revealed that Iranian carpets continue to reach global markets despite numerous challenges, including sanctions and internal restrictions.

Officials from Iran and Turkey explore mechanisms to achieve the target of $30 billion in trade.