Iran's first Economic Diplomacy Seminar kicked off on Saturday with the presence of Iranian ambassadors and high-ranking officials.

The effects of foreign policy on economic development were discussed at the seminar. The seminar underlined the relation between politics and economy, demanding that more attention be paid to international trade in the Fourth Five-Year Economic Development Plan.

Diplomats with good knowledge of world economic developments and expertise on commercial management, law, and international trade play a decisive role in modern diplomacy.

On of the effects of modern international atmosphere is the expansion of trade diplomacy and economic ties with other countries. Economic growth will result in competition, qualitative and quantitative development, and active participation in regional and international markets. Therefore, economic interests are to be guaranteed through an optimal use of current regional and international situation. The Islamic Republic has included this goal in its economic and political plans.

The development of laissez faire is one of the objectives of the Third Development Plan (March 2000-2005). Therefore, the development of investments and the endorsement of institutions, active in foreign trade, are among the objectives of the plan.

The Islamic Republic gives special priority to the cooperation among regional countries: nearly 61 percent of Iran's foreign trade is conducted with Oceania and Asian states.

Economic and technological developments are among the priorities of the third and the forth development plans. In order to facilitate this process, Iran has approved a new law, aimed at supporting investment and restructuring the tax system since 2002.

Ameliorating organizational structures and institutions of foreign trade and galvanizing diplomatic headquarters to boost international economic ties are also among the objectives of the plan.

Regarding modern world economy, foreign diplomacy can help advance economic plans.

Experts believe that Iran plays a crucial role in international arena and economic capacities; therefore, it can coordinate its socio-economic goals.