|South Korea trade delegation due in Iran||
TEHRAN - South Korea plans to send a delegation of business and trade representatives to Iran to expand bilateral trade, the deputy director of the Trade Promotion Organization of Iran said.
“The delegation is planned to negotiate with Iranian officials on expanding economic relations, especially in mining, food, and industrial sectors,” the Tasnim News Agency quoted Mehdi Mir-Aboutalebi as saying on Tuesday.
The delegation is organized by the Korea International Trade Association (KITA), according to Yonhap.
The move comes as other nations rush to Iran to seize business opportunities with the country after the UN Security Council agreed to relieve some of its sanctions on Iran for six months as of January 20. In exchange, Tehran agreed to limit its nuclear activities.
"Trade with Iran has been shrinking as South Korea joined the international community's efforts to punish Iran," a KITA official said. The delegation will help relay a clear message to the Iranian government that South Korea hopes to improve its ties with Iran, the official added.
The official, speaking on condition of anonymity, said the delegation will likely include representatives from the Korea Chamber of Commerce and Industry and the Korea Trade-Investment Promotion Agency, as well as from automobile and trading companies.
The government allowed local firms to arrange government-to-government transactions of humanitarian goods, such as food and medicine, with Iran in September.
Starting this year, local firms were also allowed to engage in government-to-business or business-to-business transactions with Iran.
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