TEHRAN Indonesian Minister of Trade and Industry Pay Jan Tan in a meeting Monday with Iran's Head of Chamber of Commerce, Industries and Mines Alinaqi Khamoushi called for improved bilateral ties between the two countries in the economic field.
In the meeting, the Indonesian minister commented on $8 billion worth of cloth and cotton exports by his country as well as the country's high production capacity of textile machinery and said these potentials could be further developed by the private sectors of both states.
He further stated that Indonesia is determined to dispatch a delegation of textile industry experts to Iran late October to look into the possibilities for investment in Iran.
Khamoushi called for boosted cooperation between Iran and Indonesia in the area of textile industry with a view to entering the regional and Central Asian markets.
He said Iran's textile industry has the capacity of producing some 1.5 billion meters of cotton cloth annually, 700,000 meters of which is exported.
Khamoushi elaborated on reduced taxes on foreign investments and said investments in Iran's free trade zones are cost-effective.
He said good grounds existed now in Iran for Indonesian investors to transport raw material into Iran to produce cloth and cotton there for export purposes.
(IRNA)