Tehran, Pyongyang discuss expansion of banking, trade ties

September 2, 2020 - 12:52

TEHRAN – Head of Iran’s Trade Promotion Organization (TPO) Hamid Zadboum met with North Korean Ambassador in Tehran Han Sung-o to discuss the expansion of banking and trade ties, TPO portal reported on Tuesday.

In this meeting, Zadboum emphasized the need for establishing a suitable environment for the two countries’ private sectors to be able to expand mutual trade activities.

The North Korean ambassador for his part stressed the importance of solidarity between the two countries in the face of the U.S. sanctions and called for the development of economic, trade, and cultural cooperation with Iran.

He also praised the Islamic Republic of Iran's successful efforts in tackling both the coronavirus pandemic and the U.S. sanctions.

Referring to the long-standing relations between Iran and North Korea, Han called for more collaboration and meetings to develop the level of economic cooperation between the two countries and suggested that Iran’s Trade Promotion Organization and the North Korean Trade Development Committee establish a Joint Trade Committee.

“This committee will follow up on all trade cooperation requirements, and committee meetings will be held periodically in Tehran and Pyongyang,” the official said.

Zadboum welcomed the constructive comments of the North Korean ambassador and pointed to the formation of a joint trade committee an effective step for the expansion of trade between the two sides.

The establishment of this committee will be studied and pursued by the Industry, Mining and Trade Ministry and the Ministry of Foreign Affairs, he added.

“For the expansion of trade relations, in addition to the capacities of the two countries, the cooperation with third countries can also be considered, Zadboum stressed.

EF/MA

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