Tehran, Madrid to finalize economic co-op roadmap

June 8, 2016

TEHRAN- Iran and Spain will finalize an economic cooperation roadmap for 2017-2021 within the next six months, a senior official in Trade Promotion Organization of Iran (TPO) said, ISNA reported on Wednesday.

According to Abolfazl Koodeie, both countries eye long-term economic cooperation, while the Islamic Republic’s focus would be on attracting foreign investors into its domestic production sector which would result in job creation, knowledge transfer, and exports of its final products.

Earlier in May, Spanish Secretary of State for Trade Jaime Garcia Legaz in a meeting with Head of Organization for Investment, Economic, and Technical Assistance of Iran Mohammad Khazaie expressed some Spanish companies’ readiness to make investments in various sectors such as insurance, petrochemicals, and tourism in Iran.

As IRNA reported at the time, Legaz announced that certain Spanish insurance companies are ready for joint investment and for extending coverage to investments made in Iran without any limit. Required financial preparations will be made as of October, he added.

The Spanish official, elsewhere, noted that his country pays a specific attention to petrochemical sector and its various major companies are active in countries across the globe including the U.S.

Hoping for a new era of bilateral cooperation with the Islamic Republic, he also referred to Spain’s high experience in tourism and expressed tendency towards making joint venture in Iran.

 

HJ/MA

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