Friday, March 06, 2015

Iran: Iran eager to invest $1b in Belarus

Source: IRNA

Tehran, March 5, IRNA -- Iranian private sector is keen on investing $1 billion in development projects in Belarus, said Iran's minister of industries, mines and trade.

Addressing the Iran-Belarus Joint Commission, Mohammad-Reza Nematzadeh said Iran is also ready to extend medical services to patients from Belarus, Mehr News Agency reported.

The minister further noted that the ground is prepared for the two countries to trade in medicines and medical instruments.

'In the past three decades, those involved in economic and cultural sectors of the two countries have sought to boost ties. Iran and Belarus have signed favorable deals in various fields and this can pave the way to further promote constructive collaboration between them.'

He urged the Iranian private and public sectors to take up the opportunity.

'Some of the joint ventures have already become operational while others are in the process of completion. The presence of Iranian companies in Belarus indicates that Iran is extremely eager to expand mutual cooperation. This has also been underlined by Iranian officials.'

Although both countries are politically and economically independent, it seems that the intensification of some of the Western sanctions, particularly those pertaining to the banking sector, in the past few years, have created a number of problems to increasing trade ties, he said.

The minister added the governments of both countries are required to facilitate private sector involvement in implementing the projects in the two countries while further expanding cooperation between state-run companies.

Nematzadeh said one of the obstacles to promoting collaboration between Tehran and Minsk is the lack of knowledge about each other's potentials and capacities. 'This problem can be overcome to a large extent by holding exclusive exhibition in both countries.'

He listed industries such as oil, food, automotive and construction materials, power generation as well as mineral and ore extraction as among the areas of bilateral cooperation.

Nematzadeh added the two sides have the potential to enhance cooperation in the field of nano-technology and aerospace engineering.

He pointed out, 'Iran has a favorable geographical location providing foreign investors with easy access to the 400-million-strong markets of regional countries.'