USD 100 ml credit extended to Iran to enhance bilateral trade relations
Updated: Nov 23, 2013 06:11:13pm
New Delhi, Nov 23 (KNN) Credit to the tune of USD 100 million extended by the Indian government to Iran will give a tremendous boost to bilateral trade between the two countries, said Ambassador of the Islamic Republic of Iran, Gholam Reza Ansari.
Asserting that investments made by Iran based business into India are safe, the Iranian Ambassador said that government authorities need to implement their promises and long-term finances are required for further facilitation of businesses between both nations.
The Ambassador was speaking at an Associated Chambers of Commerce and Industry of India (ASSOCHAM) event here today.
Giving details, “Iran is likely to sign memorandum of understanding (MOUs) in various fields like transfer of gas, investments in infrastructure projects like roads, ports, airports, power and other sectors with India,” said president of the Tehran Chamber of Commerce, Industry, Mines and Agriculture Yahya Ale-es-hagh, leading a 50 member Iranian business delegation.
“There are tremendous opportunities for India’s gems and jewellery sector in Iran in terms of production, consumption and marketing,” he said, adding, “We are ready to have mutual collaboration and establish a stock market for gems and jewellery from India in the free zones of our country.”
According to him key areas for mutual collaboration between the countries are research and new technologies, education, dairy and food processing sector, machinery and infrastructure.
“Iran is ready to invest in projects like oil refineries, power plants, construction, engineering and technology,” Yahya said.
Growth in consumption of these products, he said would create a central market in the region leading to profitable marketplace.
Currently, Iran is importing about 1 million tonne of rice and sugar per annum and also imports meat and other such products. It would like to export products such as fertilisers, petrochemicals to India.
"The field of hydrocarbons, oil and gas and various other related activities provide great opportunities for mutual collaboration," said chairman, ASSOCHAM International Affairs Council and past president Anil K Agarwal.
"Apart from projects being negotiated between both governments, there is vast scope for industries in both the countries to co-operate in areas like export of the new found very useful natural resource of gas from Iran and other neighbouring countries, food processing, biotechnology, tourism, steel and pharmaceuticals," Agarwal said.
In addition to traditional exports, he said, a vast amount of new and untapped potential in India-Iran trade relations exists in the form of new kinds of cooperation such as-technology transfer, joint production and marketing in India and neighbouring countries, joint research and development, network building, and KPO’s.
"Indian companies can also forge strategic tie-ups with their Iranian counterparts to exchange technical expertise in fields such as electronics, renewable energy and telecommunications, besides upgradation of seaport facilities and better logistics," he added. (KNN/ST)
Asserting that investments made by Iran based business into India are safe, the Iranian Ambassador said that government authorities need to implement their promises and long-term finances are required for further facilitation of businesses between both nations.
The Ambassador was speaking at an Associated Chambers of Commerce and Industry of India (ASSOCHAM) event here today.
Giving details, “Iran is likely to sign memorandum of understanding (MOUs) in various fields like transfer of gas, investments in infrastructure projects like roads, ports, airports, power and other sectors with India,” said president of the Tehran Chamber of Commerce, Industry, Mines and Agriculture Yahya Ale-es-hagh, leading a 50 member Iranian business delegation.
“There are tremendous opportunities for India’s gems and jewellery sector in Iran in terms of production, consumption and marketing,” he said, adding, “We are ready to have mutual collaboration and establish a stock market for gems and jewellery from India in the free zones of our country.”
According to him key areas for mutual collaboration between the countries are research and new technologies, education, dairy and food processing sector, machinery and infrastructure.
“Iran is ready to invest in projects like oil refineries, power plants, construction, engineering and technology,” Yahya said.
Growth in consumption of these products, he said would create a central market in the region leading to profitable marketplace.
Currently, Iran is importing about 1 million tonne of rice and sugar per annum and also imports meat and other such products. It would like to export products such as fertilisers, petrochemicals to India.
"The field of hydrocarbons, oil and gas and various other related activities provide great opportunities for mutual collaboration," said chairman, ASSOCHAM International Affairs Council and past president Anil K Agarwal.
"Apart from projects being negotiated between both governments, there is vast scope for industries in both the countries to co-operate in areas like export of the new found very useful natural resource of gas from Iran and other neighbouring countries, food processing, biotechnology, tourism, steel and pharmaceuticals," Agarwal said.
In addition to traditional exports, he said, a vast amount of new and untapped potential in India-Iran trade relations exists in the form of new kinds of cooperation such as-technology transfer, joint production and marketing in India and neighbouring countries, joint research and development, network building, and KPO’s.
"Indian companies can also forge strategic tie-ups with their Iranian counterparts to exchange technical expertise in fields such as electronics, renewable energy and telecommunications, besides upgradation of seaport facilities and better logistics," he added. (KNN/ST)
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