Iran, S. Korea sign MOU to reinforce economic bonds

January 20, 2017

TEHRAN- Iran and South Korea signed an MOU on expansion of economic ties and transfer of data in Seoul on Friday.

According to IRNA, the MOU was signed by Deputy Minister of Strategy and Finance of Korea In-Chang Song and Deputy Finance Minister of Iran Mohammad Khazaie on the sidelines of a conference about making investments in Iran.

The MOU requires both sides to transfer investment making data and also make direct investments in each other’s countries.
The MOU also includes expansion of mutual commercial relations as well as sharing related knowledge and science.

As reported, more than 200 South Korean entrepreneurs and businessmen attended the conference which was held in South Korea’s Trade-Investment Promotion Agency (KOTRA). 

Addressing the conference, Iran’s Ambassador to South Korea Hassan Taherian introduced opportunities in Iran available for foreign traders and businessmen in post-sanction era and announced that the Islamic Republic plans to offer implementation of Iranian construction projects at the value of $150 million to $200 million to foreigners per annum.
Song, for his part, called Iran a strategic economic partner of South Korea.

Highlighting attraction of long-term foreign investments as Iran’s main policy during post-sanction era, Khazaie expressed satisfaction about South Korean business people’s participation in the conference. 

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