Time Ripe For Iran-S.Korea Economic Co-op

Tehran, March 2, IRNA – The Islamic Republic of Iran is keen to develop economic cooperation with South Korea and a suitable time is available for the purpose, an Iranian trade official said on Saturday. Mahdi Mir-Abutalebi, deputy head of Iranˈs Trade Promotion Organization made the remarks in a meeting with a group of representatives of major South Korean trade companies in Tehran. He said that Iran’s strategic position and its abundant capacities provide the South Korea with a great market. He called for banking and transport cooperation between Tehran and Seoul and lifting barriers in the way of trade between both countries. South Korean companies should not look at Iran as a market of 70 million people, he said, adding, trade with Iran provides access to a regional market of 450 million people. Mir-Abutalebi said that the Western governments deprived themselves of relations with Iran in the past few years. He said that Iran’s annual trade with the European countries used to be $65b six years ago, while Iran-China trade was only $2b a year then. Now trade between Iran and Europe is less than $12b, whereas Iran’s trade with China has reached $40b, he said, asking who the loser was. Criticizing the the European Union for following the US lead on Iran sanctions, he noted that sanctions do not work for a country with 15 neighbors./end