‘Economies of Iran, Africa are complementary’

March 8, 2023 - 12:16

TEHRAN- Iranian Deputy Foreign Minister for Economic Diplomacy Mehdi Safari said that the economies of Iran and the African continent are complementary to each other, and due to their abundant capacities, significant achievements can be achieved in this due.

He made the remarks at the Scientific and Economic Cooperation Meeting Between Iran and West African Countries (IRAN WAC) which kicked off in Tehran on Monday and will wrap up on Wednesday.

Referring to the Leader's words regarding the expansion of economic cooperation with neighboring countries and especially the African continent, the official said: “In the 13th government, after giving priority to the development of economic diplomacy with the neighbors, increasing trade with the African continent was emphasized and follow-up in this field was put on the agenda.”

Head of Iran’s Trade Promotion Organization has also said the country is taking the necessary steps to increase annual trade exchanges with African countries to $5 billion by the Iranian calendar year 1404 (begins in March 2025).

Peyman-Pak said the trade with the mentioned countries is expected to reach $2.5 billion by the end of the current Iranian calendar year (March 20).

Referring to the preparation of the country's trade development roadmap at the beginning of the work of the 13th administration, the official said: "In this roadmap, major factors including exports and the share of different sectors are specified, and in the case of Africa, the priorities and targets for trade with different countries and the requirements for reaching these targets are determined."


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