Turning Iran Into Regional Economic Power

Tehran, Oct 28, IRNA -- Expansion of Iran's trade cooperation with other regional countries, including Iraq, Turkey and Qatar, shows improvement of political ties between Iran and its neighbors. Tuesday edition of the English language newspaper Iran Daily writes in its Opinion column that cooperation among these countries in the economic field can boost their regional clout. One of the main strategies for establishing political and economic relations with their neighbors is a reduction in the cost of increasing trade. To achieve this, countries can establish monetary ties and use their national currencies alongside other currencies such as dollar and euro in their transactions. Iran aims to increase its economic ties with other states, particularly those in the region, by boosting trade volume and exports to become an economic hub. Trade expansion, especially with regional states, resulted in a rise in the country's political and economic power because this trend will enhance the reliance of other states on Iran. This will also increase political stability of the country, which is the main factor for encouraging foreigners to invest in Iran. Therefore, expansion of economic cooperation and establishment of political stability are essential for achieving prosperity. This is taking place with the entry of Asian and European economic delegations. Cooperation among regional countries will result in other benefits, such that mutual interests will prevent these states from acting against Iran. Another benefit of cooperation between Iran and neighboring states is that the country will become a regional economic power, which could enhance Iran's status vis-à-vis Arab states because of advantages like its vast energy and mineral resources, skilled workforce, low wages and geographical diversity. These advantages can lead to trade expansion. As expansion of economic ties with regional states increases exports and make up deficiencies in currency resources, it will also boost exports of Iranian goods to European and American countries. An increase in the value of national currency, rial, against other hard currencies and the presence of Iranian products in international markets are other advantages of boosting foreign economic interactions./end