Trade between Iran, Qatar can reach $1b in next year: TPO head

February 20, 2022 - 8:6

TEHRAN- The head of Iran’s Trade Promotion Organization (TPO) said that the value of trade between Iran and Qatar can reach $1 billion in the next year.

Alireza Peyman-Pak said, “Trade between Iran and Qatar is currently a small figure of about $300 million-$400 million, while there is the potential to increase to $1 billion next year.”

Mentioning the trip of the president to Qatar, the official said this visit is aimed at attending the meetings of Gas Exporting Countries Forum (GECF), and also meetings between the two countries’ officials in line with the expansion of industrial, trade, transit, and tourism cooperation.

Referring to the opportunity and capacity of Qatar for investment and international partnerships, he continued: “Qatar has richer financial resources compared to the other Persian Gulf countries, and one of the approaches that this country pursues is investing in the region and distant countries.”

Iran and Qatar signed a memorandum of understanding (MOU) for cooperation in a variety of areas at the end of the two countries’ seventh Joint Economic Committee meeting which was held in Isfahan in late November 2020.

Based on this MOU, the two sides agreed to cooperate in forming a joint trade working group between the two countries, establishing trade centers between the private sectors of the two sides, establishing commercial affiliates in the embassies of the two countries in Tehran and Doha, and using the ports of the two countries to boost the export and import of goods.

Cooperation between the two countries’ chambers of commerce to encourage the private sectors of the two sides for joint ventures, the development of cooperation in the fields of agriculture, electricity, water and wastewater and gas, cooperation in the field of cultural heritage, handicrafts, and tourism, including holding a cultural week in Isfahan, were among other provisions of the mentioned MOU.

The MOU also covered cooperation in the fields of pharmaceutical and medical equipment, higher education and scientific research, transit and transportation of goods, communications and information technology, as well as protection and maintenance of fiber optic cables (submarine).