The deputy minister of industry, mine and trade went on to say that Islamic Republic of Iran welcomes investment of Turkish companies in the country and throws its weight behind investment of Iranian firms, especially knowledge-based firms, in Turkey.

In response to a question on the obstacles facing investment of Turkish companies in Iran, he added, “Turkish companies made relatively good investment in Iran over the past decade; as many as 100 Turkish mid- and large-sized industrial companies invested in various projects of the country, especially in Azarbaijan and Aras.”

The deputy industry minister pointed to the US sanctions imposed on Iran and added, “Turkish government has announced officially that his country will not comply with US sanctions on Iran and does not accept the replacement of Iran’s oil and gas energy with other countries’.”

Under such circumstances, it is hoped that bilateral ties between Iran and Turkey will experience a significant rise, he added.

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Syria’s al-Watan newspaper reported that a Syrian employee of an Emirati company said late Thursday that it was the first time his firm was participating in the exhibition.

“We came with a high-level delegation from the Emirates led by the Emirati Federation of the Chambers of Commerce and Industry,” he told AFP.

In December last year, the UAE officially reopened its embassy in Damascus, which had been closed soon after anti-government militancy began in Syria in 2011.

That militancy had been supported by many governments opposed to Damascus, including that of the UAE. Political winds shifted partly, however, as the Syrian military and its allies pushed back the militants from almost all of the areas they had overrun in the country.

According to Syria’s official news agency (SANA), some 1,700 companies from more than 30 countries are participating in this year’s trade fair, which kicked off on Wednesday and is set to come to an end on September 6.

At the opening of the fair on Wednesday, Syrian Prime Minister Imad Khamis called the US threats part of an “agenda of sabotage and destruction.”

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China, Iraq, Turkey, United Arab Emirates (UAE) and Afghanistan were Iran’s five major export destinations, which accounted for over $13.377 billion in total.

Iran imported 14,126,000 tons of goods, valued at $17.739 billion in the first five months of the current year (March 21 – August 21), IRICA added.

Accordingly, China, United Arab Emirates (UAE), Turkey, India and Germany exported over $12.280 billion worth of products to the Islamic Republic of Iran in the same period.

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The two countries of Iran and India enjoy high potentials and capabilities to increase bilateral trade exchange volume, Qomi stated.

Islamic Republic of Iran attaches great importance to its relationship with India especially in trade and business areas.

Under such circumstances that the country is facing tough economic sanctions imposed by US, effective steps and strategies should be taken in order to get rid of problems, he highlighted.

In this line, shipping line between Bushehr and India has been launched at the request of economic activists of Bushehr province, he said, adding, “talks are underway with Indian officials in this regard in order to realize pertinent objectives.”

Islamic Republic of Iran has always established friendly and amicable relationship with India, the issue of which is a solid evidence for evermore development of bilateral trade exchanges, he emphasized.

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In this meeting Aali placed special emphasis on introducing Iran’s industrial, mineral and infrastructural capabilities in line with developing and expanding trade and business exchanges of the country with neighboring states especially Caspian Sea littoral states.

The deputy minister of industry pointed to the Caspian Sea as sea of ‘peace and friendship’ and reiterated, “organizing the 1st Caspian Economic Forum in Turkmenistan’s Awaza will lay the ground for execution of provisions of trade and economic cooperation agreement between Caspian Sea littoral states.”

Elsewhere in his remarks, CEO of IDRO said that Islamic Republic of Iran is ready to strengthen exchanges more than ever with Caspian Sea littoral states in various fields such as industry, agriculture, modern technologies, energy, tourism, etc.

The 1st Caspian Economic Forum was held in Turkmenistan’s Awaza on Aug. 11 in the presence of economy ministers of participating countries including Turkmenistan, Russia, Kazakhstan and Iran and also deputy economy minister of Republic of Azerbaijan.

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Underscoring the warm relations between the two sides, Muslimyar described that there are five joint committees working on finalization of trade between Iran’s Chabahar and Khorasan province with Afghanistan.

“During the past recent days officials from Afghan customs were in Mashhad and Eslam Ghaleh to make it possible for Iranian tradesmen to travel to Kabul and Afghan businessmen to India, Tehran, Mashhad and other Iranian cities,” he added.

The speaker also vowed that his country will fulfill its commitments about ensuring security at joint borders with Iran.

Addressing the two countries issue over Helmand water right, he said that a committee has been formed in this regard to have the two sides reach an agreement over the issue.

Iran and Afghanistan signed an agreement on the optimal use of water sharing from the Hirmand River in Kabul in mid-June, 2019.

As per the agreement, signed at the end of the joint meeting of the water commission in Kabul, Iran and Afghanistan agreed on installing the measuring tools on the Hirmand River for the next six months for better implementation of the 1973 treaty.

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During the visit, the Iran-Iraq Joint Trade Committee held a meeting for the first time in Baghdad aiming to boost Iranian traders’ participation in the Iraqi market.

The committee discussed important issues including banking cooperation, standardization of commodities, customs regulations, investment opportunities as well as technical and engineering services beside transportation, Behzad said.

In the meantime, an agreement was signed between the two countries based on which preparations should be made for establishing a joint industrial town, and methods should be developed for verifying the standards and quality of Iranian products.

Besides, the agreement aims to facilitate visa issuance for Iranian businessmen, increase Iranian exhibitions in Iraq, and remove barriers for the Iranian exports to Iraq.

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He made the remarks in a press briefing on Tuesday and said, “in a recent meeting with Armenian President Armen Sarkissian on economic ties between the two countries of Iran and Armenia, he [President] said that Armenia attaches great importance to its relationship with the Islamic Republic of Iran and intends to increase mutual investment between the two countries.”

Dispatching trade and business delegations, setting up exhibitions and taking maximum advantage of potentials and capacities of the two countries are of salient programs, he highlighted.

Turning to the banking ties between the two countries, he added, “we are after doing trade and business with local currencies of the two countries i.e. rials and drums.”

Turning to Mogri Free Economic Zone, he added, “this Zone has not yet been activated. With the activation of this Zone in the vicinity of Iranian borders, we can connect factories and service systems to Eurasian Economic Union (EEU) system.”

With the coordination made, a 100-member Iranian trade and economic delegation will be dispatched to Armenia next month, Yarijanian added.

Chairman of Iran-Armenia Joint Chamber of Commerce put the total trade volume of the two countries at $300 million and added, “energy is the major field of cooperation between Iran and Armenia.”

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On the sidelines of an exporters’ meet organized jointly by the Federation of Indian Export Organizations (FIEO) and UCO Bank, UCO Bank Managing Director Atul Kumar Goel said the bank would need to train its personnel both at the branch and treasury levels on procedural compliance for doing business with Iran.

Discussing the present trends in the global trade, banking-related issues of exporters, and facilitation initiatives taken by the government, Goel said, “the government is giving a thrust to export finance. UCO Bank facilitates and promotes export finance. As many as 14 Iranian banks have opened Indian Rupee Vostro Account with UCO Bank.”

Explaining the significance of Iranian banks opening account with UCO Bank in India, he said: “Whenever we import oil, the money is paid by the oil companies in India and credited to this account. That bank will send this Indian rupee to the bank in Iran and the payment to the exporter will be made in Iranian rial.”

Goel said export opportunities to Iran are huge. Credit is extended at competitive rates and will not be a constraint for exports, he added.

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Rahmani pointed to the high potentials and capacities of Iranian cities including Chabahar and Bandar Abbas and added, “Islamic Republic of Iran attaches great importance to its relations with neighbors, so that the country thinks to this issue as a win-win and strategic tie.”

Omani side pointed to the brotherly and friendly relationship between Iran and Oman and emphasized on the need to strengthen transportation and infrastructural cooperation as well as presenting facilities in line with promoting bilateral trade volume.

Development of relationship with neighbors especially Islamic Republic of Iran is the main policy of Omani government, he said, adding, “we welcome any strategy for promoting and developing bilateral relationship warmly.”

Ahmed bin Mohamed Al Fatisi, Omani Minister of Transport and Communication referred to the infrastructural facilities of his country in the field of launching air and sea transport lines and stated, “now, air routes have been established between the two countries and it is necessary that trade and business activists should boost their activities in maritime field.”

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