Iran Says "Africa Is A Green Market With Huge Potentials And A Gateway To New Opportunities"

Posted on :Monday , 26th August 2019

Following Iran’s policies for development of trade ties with African countries, the country’s Trade Promotion Organization (TPO) hosted an Iran-East Africa business forum at Tehran Permanent International Fairgrounds to provide an opportunity for the two sides to discuss future steps in economic relations.

Focusing on banking, insurance and transportation areas, the business forum was attended by senior officials from the two sides including Head of TPO Mohammadreza Modoudi, Kenya’s Ambassador to Tehran Ruqayyah Ahmed Subu, representatives of the foreign ministry, Head of Islamic Republic of Iran Shipping Lines (IRISL) Mohammad Saeidi, Head of TPO’s Africa office Abbas Bagheri and representatives from the two sides’ private sectors.

Opening the event, the head of Iran’s trade promotion organization welcomed the African guests and conveyed hope that such events and forums would be a starting point in formation of a great economic relations between Iran and all African countries.

In his Speech, Modoudi mentioned Iran’s small share in the global trade and noted that Africa could be a gateway through which the country’s trade levels could be raised significantly.

He said, “Iran holds only a two-percent share in the total global trade and Africa, having a 1.3-billion population, could be a great opportunity for Iranian businesses to benefit from.”

The official further mentioned some of the prospective areas in which the two sides can cooperate, including investment and joint ventures, infrastructure, engineering and services, agriculture, food industry, development projects, auto industry and etc.

In another part of the forum, as the African representative in the event, Kenya’s Ambassador to Tehran Ruqayyah Ahmed Subu delivered her speech.

In her remarks the official highlighted the East Africa Community (EAC) countries’ potentials and capabilities and stressed the need for expansion of trade ties between Iran and these nations.

According to Subu, EAC nations namely Burundi, Kenya, Rwanda, South Sudan, Tanzania, and Uganda are all developing countries with great potentials and trade opportunities which can offer huge benefits and advantages for those traders which dare to enter these markets.

According to the official, Kenya is following a 2030 vision plan in which the country has put in on the agenda to reach food security, stable housing and manufacturing and also providing affordable accommodation for all the nation.

During the event, various officials from both sides including Modoudi, Baqeri and Ahmed Subu delivered speeches and in the end of the event company representatives and businessmen from the two sides held B2B talks to inspect issues regarding the banking, transportation and insurance relations, particularly in maritime transportation and shipping.

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