Baku, Azerbaijan, Jan. 21
By Fatih Karimov – Trend:
Iran and South Korea signed a Memorandum of Understanding (MoU) to boost economic ties and mutual investment.
The deal was signed by Mohammad Khazaie, Iran’s deputy economy minister and In-chang Song, South Korea’s deputy minister of strategy and finance, in Seoul on the sidelines of a conference about making investments in Iran, Iran’s IBENA news agency reported Jan. 21.
Under the document, the two sides will cooperate in sharing investment making data and economic knowledge.
The MoU also envisages making direct investments by each side in other’s country.
Addressing the conference, Iran’s Ambassador to South Korea Hassan Taherian said that Tehran plans to offer implementation of construction projects, worth $150-$200 million per year to foreign investors.
South Korea is among the top five importers of Iranian goods. Iran exported $2.144 billion worth of non-oil goods to the Asian country in the first eight months of current fiscal year (March 20- Nov. 21, 2016).
Iran's exports to South Korea registered a huge rise by 708 percent in the period year-on-year.