Economy min. outlines Resistance Economy model in UNCTAD

TEHRAN, Jul. 23 (MNA) – Iran’s economy minister described details of Resistance Economy at the 14th session of UNCTAD held in Kenya.

Ali Tayebnia, who had travelled to Kenya to participate in the fourteenth session of the United Nations Conference on Trade and Development (UNCTAD 14), delivered a keynote presentation at the closing ceremony of the conference of Friday.

He pointed to the importance of international economic cooperation in the development of national economy as well as in stabilization of international relations and described Iran’s economic and trade policies in constructive interaction with other countries especially with neighboring states.

The Iranian official, while enumerating features of Resistance Economy in the Islamic Republic of Iran as a new model of economy, reiterated “Iran’s economy relies on domestic resources and capabilities in interaction with other economies with formation and extraversion being two important factors in Resistance Economy.”

Tayebnia further pointed to serious determination of the incumbent Iranian government to support domestic and foreign investment.

Iran’s minister of economy also met and talked with UNCTAD Secretary-General Mukhisa Kituyi on the sidelines of the event.

Ali Tayebnia enumerated achievements of Iran’s economy during sanction years as well as the provided plans for the post sanction era.

He referred to the improvement in Iran’s credit rating and business climate saying “successes obtained by the incumbent government have provided grounds for growth and economic prosperity.”

He also pointed to the measures taken in area of single-window system in custom administration calling for taking advantage of UNCTAD’s experience in relevant fields.

UNCTAD Secretary-General Mukhisa Kituyi, for his part, appreciated Iran’s achievements in reducing inflation and bringing about economic stability as well as the efforts made for providing solidity in the region.

He welcomed Tayebnia’s invitation of him to visit Iran voicing ANCTAD’s readiness to boost cooperation with Iran.

The Iranian Minister for Economic Affairs and Finance Ali Tayebnia also paid a courtesy call to the National Treasury Kenya Cabinet Secretary Henry Rotich at his office in the Treasury Building.

Tayebnia, who was accompanied by the Iranian Ambassador to Kenya Dr. Farajvand, referred to the long history of ties between the two countries saying “unfortunately, the current volume of trade between the two sides remains at the low level of 57 million dollars per year.”

The official touched upon the existing capacities in Kenya, especially in agriculture as well as the need held by the African country for infrastructure projects particularly in energy, oil, gas and refinery sectors as well as to Iran’s capabilities in these areas especially in the field of refineries, power plants, dams and agriculture.

He evaluated expansion of relation as beneficial to both countries.

National Treasury Kenya Cabinet Secretary Henry Rotich, for his part, welcomed the offered suggestions expressing his country’s eagerness to exploit Iran’s capabilities in the mentioned sectors.

He also appreciated Tayebnia’s proposal for a Kenyan delegation to visit to Iran aiming to strengthen cooperation between the two countries.

HA/3720164

News Code 118286

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