Tehran, Iran, August 23
By Mehdi Sepahvand -- Trend:
Iran and South Korea are in talks to jointly build dams in the southwestern Asian country.
Iranian Minister of Energy Hamid Chitchian and South Korean Minister of Land, Infrastructure and Transport Yoo il-Ho met today to discuss topics in the energy industry, Mehr news agency reported August 23.
Chitchian expressed pity that the trade volume between the two countries has lowered as much as 50 percent in the past few years.
He said South Korean companies can work with Iran in building dams, implementing irrigation projects, water treatment, sewage treatment, etc.
He added grounds are prepared for South Korean companies to make direct investment in Iranian projects.
"There is also the opportunity of financing projects. But, the companies that come to Iran with their technology and know-how have a bigger chance to work with Iran," Chitchian further said.
Iran was South Korea's sixth largest partner for sales of industrial products before 2011 when sanctions reduced bilateral trade.
South Korea has established a special support center for businesses to enter the Iranian market in its effort to revive full economic relations with Tehran.
Iranian Oil Minister Bijan Zanganeh said recently Iran expects to double its oil exports to South Korea whenever sanctions are lifted.
Tehran currently exports about 100,000 barrels of crude to South Korea per day.