In the meeting, Shafei said that Iran and Singapore can broaden their bilateral or multilateral ties in the future due to the ole of Singapore in ASEAN and Iran’s role in the ECO.

He pointed to improvement of the pandemic and said that now both sides can exchange trade delegations and to have in-person meetings. He noted that ICCIMA is eager to dispatch a trade delegation to Singapore.

Then Ambassador of Singapore to Tehran Mr. Ong Keng Yong, for his part, said that Singapore is considered as the second marine hub in the world, adding that the current challenges ahead of his country is inflation and it has increased the fare of transportation and goods. He added that unfortunately studies show that inflation in Singapore to be between 15 to 20 percent this year and it can have negative impact on businesses.

He then said that EAEU member states are active in fertilizer and grains, adding that Singapore seeks broadening ties in this line to increase the level of trade exchange of Iran with Eurasia as well as ASEAN with Singapore.

H added that he believes sanctions unlikely can create problem in the field of agriculture and food industries and therefore they should work to increase export of fertilizer and foodstuff from Iran to other states.

The Singaporean diplomat stressed that despite sanctions there are still some opportunities and although the political situation in the world is not good, Iran and Singapore can cooperate in the fields of food, medicine and transportation.

He said that the embassy and ICCIMA should present Iran to new companies in those fields.

Then Shafei said that ICCIMA suggests introducing capacities of Oran to the newly-established Singaporean companies and announced readiness of the chamber for full cooperation in this regard.

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Speaking to ILNA, Amir-Hooshang Birashk talked about the current trend of trade between Iran and Singapore and said Singapore is one of the most developed countries of ASEAN which has achieved huge success in the field of foreign trade by using re-export. He added that in the past years, the trade balance between Iran and Singapore has been mainly in favor of Singapore and Iran’s exports have been limited to few non-oil goods.

He added that Iran’s imports from Singapore last year were around $531m which shows the decline over $300m comparing to its preceding years and the international sanctions has been the main reason for the decline.

Birashk then pointed to some programs for developing ties between Iran and Singapore and said that one of the programs is to restore relations between the parallel organizations and bodies of both countries and signing the MoU for beginning the joint cooperation.

He added the other plan is to determine the priorities for cooperation, adding that the plan for launching the Iran-Singapore Trade Office is in line with the plan for easing cooperation and developing ties.

He reiterated that the office is aimed at developing some issues like the barter trade. He went on to say that other plans on the agenda are like devising a plan for long-term cooperation of 5 to 10 years which is aimed at producing joint products under license of Singapore or producing products with the joint brand.

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