Tehran supports any measure to stabilize oil prices: Rouhani

News ID: 3772416 -
TEHRAN, Sep. 18 (MNA) – Iran's President Hassan Rouhani said the decline in oil prices would hurt oil producers, and Tehran makes any effort to stabilize the market and improve oil prices with a fair share for oil-producing countries.

Speaking during a meeting with Ecuadorian counterpart Rafael Correa, on the sidelines of the 17th NAM summit in Margarita Island of Venezuela on Saturday evening local time, Rouhani pointed to the commonalities between the two countries and said Islamic Republic welcomes all-out cooperation with Ecuador.

Expressing satisfaction with the expansion in Iran-Ecuador ties, President Rouhani said deep relations between the two countries and their common goals along with shared international and regional issues, needs to further develop.

He deemed the removal of sanctions as an opportunity to expand bilateral relations saying "we are fully prepared to present our experience and capabilities to Ecuador in areas of science, technology and energy."

Rouhani said the expansion of banking cooperation between the two countries is necessary and is highly regarded in bolstering relations particularly in private sectors.

Pointing to the upcoming meeting of OPEC and non-OPEC oil producers in Algeria, Rouhani asserted that instability and declining oil prices would hurt all countries, especially oil-producing ones, adding Tehran supports any measure to improve market and price stability, based on fair share for all producers.

Rafael Correa, for his part, underlined the government and people of Ecuador have always appreciated and supported Iranian nation and government during rough days; "Unfair sanctions removal was an opportunity to further expand bilateral relations."

"Ecuador is determined to boost ties with the Islamic Republic, among which improving banking cooperation to advance plans and projects is the priority," Correa noted.

He also pointed to the upcoming Algeria meeting and said justice in oil price is required and all countries should work to reach positive results in the meeting.

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