Economy min. stresses broadening Iran-India business ties

News ID: 4230927 -
TEHRAN, Feb. 18 (MNA) – Minister of Economic Affairs and Finance (MEAF) Masoud Karbasian placed special emphasis on enhancing trade and business ties between Iran and India.

Iran and India shares social and cultural commonalities, he said, adding, “there is no limitation in enhancing relationship between Iran and India, so that appropriate opportunity has been provided for both Iran and India in order to broaden and expand their bilateral relationship in all fields.”

Energy, oil and gas account for Iran’s major export share and Iran has managed to play an important role in this respect as supplier of energy for Indian refiners and petrochemical firms, Karbasian emphasized.

Moreover importing more energy resources from Iran, it is hoped that India will invest in other areas in order to broaden bilateral cooperation, the economy minister stressed.

With the coordination made in this regard, economic problems facing the two countries will be settled in the very near future, he observed.

He also referred to the trilateral agreement inked between India, Iran and Afghanistan on the construction operation of Chabahar port last year (ended March 20, 2017) and said, “as a multilateral deal, Chabahar Port has created a suitable opportunity for Indian investors in petrochemical field, chemical fertilizers, etc.”

Islamic Republic of Iran is a stable market, so that Indian merchants can take advantage of this port optimally, he emphasized.

Turning to Iran’s economic programs, Karbasian said, “after signing a landmark nuclear deal dubbed “Joint Comprehensive Plan of Action, JCPOA”, Iran managed to increase its domestic capabilities and also attracted more Foreign Direct Investment (FDI) in post-sanctions period.”

To conclude his remarks, the minister of economy said, “under the current administration, Ministry of Economy and Central Bank of Iran (CBI) managed to ink various deals with other countries, valued at $400 billion, so that these agreements have been used for the development of country’s economic projects.”



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