TEHRAN – Iranian Trade Promotion Organization (TPO) has signed a memorandum of understanding (MOU) with the Ministry of Cooperatives, Labor, and Social Welfare for cooperation in facilitating the exports of commodities produced by the country’s cooperatives.

As reported by the TPO, a variety of areas were covered in this memorandum including the promotion of the capabilities of exporting cooperatives, providing technical consulting services regarding foreign trade, identifying and establishing export consortia by capable cooperatives, prioritizing areas with export potential in the country's cooperative sector and finally participation in developing the export cooperative market.

Speaking in the signing ceremony, the TPO Head Hamid Zadboum described the cooperative sector as one of the most influential sectors of the country's economy and said: "It is necessary to facilitate the development of the cooperative-oriented markets in the target countries through the optimal use of the country's cooperative capacity and further supporting this sector."

He underlined the constructive interaction between the TPO and the Iran Chamber of Cooperatives (ICC), as the organization in charge of the country's cooperative sector, and called for the continuation of such cooperation.

"Considering the current state of the country's economy and the negative impacts of the U.S. sanctions, e-commerce could be the gateway to the development of the country's foreign trade and in this regard, the integration of trade activities in a comprehensive trade system has been done in order to facilitate exports,” Zadboum stressed.

The official finally called on the Ministry of Cooperatives, Labor and Social Welfare to identify capable cooperatives and introduce them to the Trade Promotion Organization to support their trade activities.

EF/MA