Iran ready to expand economic co-op with Caspian Sea littoral states

August 12, 2019

TEHRAN – Iran is ready to expand economic cooperation with all neighboring countries, especially with the Caspian Sea littoral states, deputy industry minister Mohammad-Baqer Ali said in the first Caspian Economic Forum which was held in Turkmenistan’s Avaza on August 11-12.

The official underlined Iran’s industrial, mining and trade capabilities and capacities and noted that the first Caspian Economic Forum could provide the basis for the implementation of an economic cooperation agreement among the Caspian Sea littoral nations.

As reported, the event was attended by senior officials from numerous countries in the region including the economy ministers of Turkmenistan, Russia, and Kazakhstan as well as Azerbaijan’s deputy economy minister.

Ali who is also the board chairman of Iran’s Industrial Development and Renovation Organization (IDRO), voiced Iran's readiness for further enhancement of trade relations with the

Caspian coastal countries in various fields such as industry, agriculture, technology, energy, tourism and other areas of interest.

He further emphasized the need for strengthening the cooperation between Iran's special economic zones and free trade zones with the countries in the region and called for implementation of joint investment programs and projects.

A variety of issues and subjects were covered in the forum, including project implementation and joint plans, exchange of experiences on the development of special economic zones, legislation and standards, digital economy, cooperation between coastal regions and joint ventures.

An exhibition of business and trade capabilities of the Caspian Sea littoral states was also held on the sidelines of this forum in which the exhibitors showcased their latest achievements and products.

EF/MA

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