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Businessman urges joint investments in Afghanistan
Mahmoud Siadat, the chairman of Iran-Afghanistan Joint Chamber of Commerce, has stressed the need for Iranian businesspeople to make joint investments in Afghanistan.
In an exclusive interview with Iran Chamber of Commerce newsroom, Siadat said that the situation in Afghanistan has underwent significant changes and many policies have been changed.
He said that the new policies taken by Afghanistan’s Taliban ruling government are hindering Iran from exports of final products to the country, warning about threats that Iran could be removed from the Afghan market or have a less active presence there.
“We have to move towards making investments or joint investments in the Afghan market,” Siadat said, adding that this would be a critical decision to make at this time.
Referring to the decline in Iran’s trade with Afghanistan with the re-emergence of Taliban in 2021, he however said that bilateral trade between the two neighboring countries has been steadily rising over the past three years.
Iran’s exports to Afghanistan stand at $2 billion at present and there is potential for the figure to rise to $10 billion, he said, but did not provide a timeframe for this increase.
Iran, Kazakhstan urged to enforce trade cooperation agreement
President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh has underlined the need for speedy implementation of a trade cooperation agreement between Iran and Kazakhstan.
Hassanzadeh made the remarks in a meeting in Tehran with Kazakhstan’s Ambassador to Iran Ontalap Onalbayev.
Noting that the current $300 million trade between Iran and Kazakhstan is not consistent with the potentials of the two nations, stressing the need for them to make every effort to increase bilateral trade to a target $3 billion.
He also referred to a trilateral logistic agreement between Iran, Kazakhstan, and Russia which he believed could upgrade transportation among regional countries.
Considering that the two countries have solved banking issues which used to impede bilateral cooperation, especially on agricultural and livestock areas, Hassanzadeh said that the ground is now prepared for more joint investment projects.
The Kazakh minister, for his part, said that Iran and Kazakhstan have developed good cooperation on maritime, rail and road transportation, which need to be further expanded.
Noting that almost 70% of the volume of trade between Iran and Kazakhstan are Iran’s exports to the Central Asian country, the ambassador called for more increased exchanges on agricultural, petrochemical and constructional items which he believed could lead to an increase and balance of bilateral trade.
The ambassador added that the private sector operators of the two countries are not well informed about lifting the banking obstacles on the way of bilateral trade and they have to be briefed on this achievement.
Uzbekistan eager to use potentials of Chabahar Port
Uzbekistan’s Ambassador to Iran Fariddin Nasriev says his country is willing to make use of the potentials of the Port of Chabahar in southeastern Iran.
The ambassador made the remarks in a meeting in Tehran with President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh.
Speaking during the meeting, the president of Iran Chamber of Commerce voiced Iran’s readiness to make investments in expansion of Uzbekistan’s infrastructure.
He referred to Iran’s high potentials in producing medicines, noting that the country stands ready to export pharmaceuticals to Uzbekistan and help transfer the technology to the Central Asian country.
Hassanzadeh also highlighted Iran’s transit routes which he said provide Uzbekistan with access to Europe.
The Uzbek minister, for his part, said that his country will soon be hosting a major investment forum, calling on the Iranian business actors to participate in the event.
Noting that Uzbekistan imports some $900 million worth of medicine each year, Nasriev called on Iranian companies to launch medicine production lines in Uzbekistan.
The ambassador said that his country has signed a contract with a major Iranian pharmaceutical company and also plans to give a boost to this cooperation.
Iran becomes 4th largest oil exporter in OPEC: Report
Iran has risen to become the fourth largest oil exporter within the Organization of the Petroleum Exporting Countries (OPEC) due to a surge in oil production and sales.
Iran's oil and gas condensate exports have now reached their highest level since 2018, when the United States withdrew from the Iran nuclear deal and introduced tough economic sanctions against the country, targeting its oil sales in particular, according to a report by Vortexa, which provides data on the global energy sector.
The report emphasized that Iran's oil and gas condensate exports now account for 9% of OPEC's total crude oil and gas condensate exports.
Iran exported 1.56 million barrels of oil per day from January to May of this year, 250,000 bpd more than Kuwait and Nigeria. This has elevated Iran's ranking to the fourth spot among OPEC's largest crude oil exporters.
Despite Western sanctions, Iran managed to increase its crude oil and gas exports to 1.7 million bpd in May, the highest level in the past five years.
The report cited the rise in Chinese oil demand and the expansion of Iran's oil tanker fleet as the main factors contributing to the surge in Iran's oil exports.
Iran’s five-month trade with Turkey hits $2.3 billion
A recent report by the Turkish Statistical Institute (TURKSTAT) suggests that Iran’s trade exchanges with Turkey reached $2.3 billion over the first five months of 2024.
The five-month trade between the two neighbors shows a 5 percent increase compared to last year’s corresponding period when the figure stood at $2.189 billion.
Turkey exported some $1.340 billion worth of goods to Iran from January to May 2024, marking a 16% year-on-year rise, according to the report.
Turkey’s exports to Iran stood at $1.151 billion during the same period of 2023.
Iran’s exports to the eastern neighbor was also reported at $960 million in the period under review, 7% down from $1.038 billion reported in January-May 2023.
Iran, Pakistan urged to exercise free trade
President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh has stressed the need for Iran and Pakistan to exercise barter trade and free trade so as to materialize a target for increasing bilateral exchanges to $10 billion.
Hassanzadeh made the remarks in a meeting in Tehran on Sunday with Pakistani Ambassador to Iran Muhammad Mudassir Tipu.
Noting that Tehran and Islamabad can cooperate on different areas including pharmaceuticals, petrochemicals, energy, auto parts, techno-engineering services and electronics, he said that the ground is also prepared for cooperation on health tourism.
Hassanzadeh further stressed that an agreement for activating a joint trade council between the two neighboring countries is still in place.
The Iran Chamber of Commerce president said that the two countries have had many talks on the launch a barter trade system while no practical step has been taken.
He called on the Pakistani government to ease visa requirements for Iranian businesspeople.
The Pakistani ambassador, for his part, referred to his country’s agreement with the late Iranian president Ebrahim Raisi for increasing bilateral trade to $10 billion, adding that Islamabad continues to pursue this agreement.
The Pakistani government has decided for the joint border customs to work round the clock, the ambassador said, adding that it would be very effective if Iran also decides to do so.
He noted that the trade balance is one of the main obstacles on the way of trade between the two neighbors, as he said Iran’s exports to Pakistan stand at $1.6 billion while Pakistan’s exports to Iran are so insignificant.
He believed that the exercise of free trade rests upon win-win connections.
The ambassador added that if the Iran Chamber of Commerce recommends businesspersons to the embassy, there would be no problem for issuance of visa.
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Afghanistan eyes $10 billion trade with Iran
Afghanistan’s acting minister of commerce Haji Nooruddin Azizi says his country is seeking to enhance bilateral trade with Iran to over $10 billion.
He made the remarks as he met with Iran’s Ambassador to Russia Kazem Jalali which was held on the sidelines of Kazan Forum 2024 on Friday.
The Afghan minister said that Iran’s southeastern port of Chabahar provides Afghanistan and Central Asian countries with the best access to the high seas, calling for further facilitating the transport thorough this path.
He also urged the need for Iranian border customs to work round the clock so as to give a boost to bilateral exchanges.
Afghanistan calls for more investment of Iranian private sector
Businesspeople from Afghanistan have stressed the need for Iranian private sector to make more investment in the country.
An Iran-Afghanistan Business Forum was held in the headquarters of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) in Tehran on Monday as a major Afghan trade delegation is in the Iranian capital to attend Iran Expo 2024.
Addressing the business forum, ICCIMA Vice President Qadir Qiafeh welcomed the peace in Afghanistan after years of insecurity and said that the Iran Chamber of Commerce is ready to help the promotion of trade ties with the neighboring country.
Noting that the volume of trade between Iran and Afghanistan has reached $2 billion, he said that Afghanistan is now one of the top five destinations for Iranian products.
He urged the need for the chambers of commerce of the two countries to prepare plans for strategic measures so as to witness a growth in bilateral relations.
Speaking in the meantime, Deputy Head of Afghanistan Chamber of Commerce and Investment Mohammad Younus Mohmand said that Afghanistan has passed behind 45 years of war and is now witnessing security.
“By restoring trade relations with all world countries, we have increased Afghanistan's exports from $700 million to $2 billion,” he added.
He urged the need for the Iranian private sector to make investments in Afghanistan, while noting that the Chinese have a stronger presence in the country.
Mahmand stressed that his country needs Iranian experience and technology in different areas, including trade, transit, knowledge-based sector, and mines.
He added that Afghanistan railway network provides Iran with access to China and Central Asia.
