September 25, 2022

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Iran to establish 7 new trade centers in Africa by Mar. 2023

TEHRAN – Aiming to develop trade with Africa, Iran is planning to open seven new trade centers in countries of the continent by the end of the current Iranian calendar year (March 20, 2023), IRNA reported on Tuesday, quoting a senior official with Iran’s Trade Promotion Organization (TPO) as saying.

“So far, three business centers have been established in Africa, and we plan to increase this number to 10 centers by the end of the year,” Director-General of TPO’s Africa Office Mohammad-Sadeq Qanadzadeh said.

Speaking at the first meeting of the Iran-Africa House which was held in collaboration with TPO, Qanadzadeh stated: “The purpose of this meeting is to introduce Iran’s investment and business opportunities to African trade partners.”

According to the official, since the beginning of the current Iranian calendar year (March 21), more than 400 business delegations from Africa have traveled to Iran, and the Iranian government is also taking all the necessary measures to develop mutual relations.

Stressing the need for the improvement of infrastructure and providing new incentives for the development of trade with Africa, Qanadzadeh noted that several contracts have been signed with African trade partners for the development of infrastructure and maritime and air transportation.

“The agreement for the establishment of a direct airline between Iran and South Africa will also be concluded by the end of the year,” he added.

He further pointed to the upward trend of trade with African nations, saying: “In the first quarter of this year, many African countries have been among Iran’s top trade partners, which is a very good thing.”

Back in June, TPO Head Alireza Peyman-Pak said the country is taking the necessary steps to increase annual trade exchanges with African countries to $5 billion by the Iranian calendar year 1404 (begins in March 2025).

Peyman-Pak said the trade with the mentioned countries is expected to reach $2.5 billion by the end of the current Iranian calendar year.

Referring to the preparation of the country’s trade development roadmap at the beginning of the work of the 13th administration, the official said: “In this roadmap, major factors including exports and the share of different sectors is specified, and in the case of Africa, the priorities and targets for trade with different countries and the requirements for reaching these targets are determined.”

Peyman-Pak put the share of African countries in Iran’s export basket at $1.2 billion, saying: “Africa’s annual imports amount to about $580 billion and our share of this figure is still small despite all the efforts. We have managed to export $1.2 billion to this market.”


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