Iran-Malaysia energy cooperation stressed

July 3, 2007 - 0:0

KUALA LUMPUR (PIN)-- Iran and Malaysia can develop cooperation in oil and gas sectors, announced the director of the International Department of Iran’s National Petrochemical Company (NPC) here.

Elaborating on Iran’s oil and gas resources to 150 Malaysian investors at the "Seminar on Trade Opportunities and Investment in Iran", Mohammad Hadi Rahbari pointed out that Iran ranks third and second in world oil and gas reserves respectively. He explained the opportunities of investing in up-mid-down stream of Iran’s petrochemical sector, calling on Malaysian companies to compete with their foreign counterparts which are active in the country in this respect. Iranian Ambassador to Malaysia Mehdi Khandaqabadi delivered a speech at the inaugural ceremony of the one-day seminar in Kuala Lumpur International Convention Center. Iranian Deputy Foreign Minister for Economic Affairs Alireza Sheikh-Attar, the new Chairman of Iran Chamber of Commerce, Industries, and Mines Mohammad Nahavandian, and Deputy Economy Minister and Head of Iran Privatization Organization Gholamreza Heidari Kord Zanganeh also took part in the discussions. The seminar was aimed at describing Article 44 of the Constitution which calls for privatization in Iran. Malaysian State Minister at Prime Minister’s Office Mohd Afandi Noroavi said he was impressed by Iranian economic progress. He made the remarks on the sidelines of the seminar in a meeting with Sheikh Attar. The Malaysian minister added that the breakthrough Iranians have made in scientific and economic fields is praiseworthy, noting Malaysia is keen on cooperation with Iran. Sheikh Attar, for his part, said that the Islamic Republic of Iran as an active player in regional and international arenas is keen on expanding cooperation with Asian countries. "Iran and Malaysia enjoy common stand on regional and international issues with the aim of resolving problems particularly in the Muslim world." Pointing to the Article 44 of the Constitution of the Islamic Republic of Iran, he underlined that Iran has held the seminar to introduce the opportunities for investment to the Asian nations in line with privatization drive envisaged in the constitutional article