Seminar Titles ‘Trade, Investment In Iran’ Held In Johannesburg

Pretoria, Oct 4, IRNA – A seminar titled ‘Trade and Investment in Iran’ was held in Johannesburg with an aim of introducing commercial and investment opportunities in Iran. The event was attended by Iran’s Ambassador to South Africa Mohammad Faraji and a number of Iranian and South African businessmen. Addressing the seminar, Faraji referred to the history of Iran-South Africa ties and said that the two countries have common views on many political and economic issues. Stating that the two countries' political ties are at a desirable level, he said that it is expected the high level cooperation will also spread to other fields, especially the economic and commercial arenas. “High capabilities in the field of energy and mines and having a huge market provided favorable conditions for Iran,” he said, noting that the conditions have attracted the attention of foreign investors. Currently, suitable conditions are ready for Tehran-Pretoria economic cooperation, Faraji said, noting that Iran’s Embassy is ready for cooperation in all fields. Addressing the same gathering, First Secretary of Iran’s Embassy, Hassan Shabeyk referred to the resumption of Iran-South Africa ties since the collapse of the apartheid regime in 1994 and said that bilateral ties have developed further since then. Some 9 agreements have so far been inked by the two countries in various fields, he said. Putting the rate of bilateral commercial exchanges in 2011 at four billion dollars, Shabeyk added that crude oil and oil products constitute some parts of the Iranian exports to South Africa. Iran provided 25 to 40 percent of the country’s oil needs during 2005-2011, he said./end