Iran, Eritrea to boost economic ties
Tehran Times Economic Desk

TEHRAN – Iran and Eritrea here on Sunday signed a memorandum of understanding (MOU) on supporting and encouraging foreign investment.

The agreement was inked by Iranian Minister of Finance and Economic Affairs Shamseddin Hosseini and his Eritrean counterpart Berhane Abrehe.

IRNA quoted Hosseini as saying that Iran has no limitation to promote cultural, political and economic cooperation with Eritrea.

He added that the sides have great potentials and opportunities to expand mutual relations.

“Iran is ready to offer Eritrea its achievements and experiences notably in the fields of agriculture, mining, and automotive sectors” noted Hosseini.

He said that the Export Development Bank of Iran has opened a 35 million dollars L/C for Eritrea to boost two-way trade capacities.

Eritrean finance minister, for his part, vowed to follow up for the implementation of the agreements made between the sides.

Referring to the mutual talks on Iran’s wheat exports to Eritrea, Abrehe called on the Iranian side to take necessary measures for smoothing the progress of the issue

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