Tehran, Kuala Lumpur set to expand economic ties

Business Materials 10 March 2010 11:37 (UTC +04:00)

The Iranian deputy economy minister met with the Malaysian ambassador to Tehran and called for the expansion of economic relations between the two countries.

The Mehr News Agency quoted Behrouz Alishiri as outlining religious, cultural, political and economic commonalities of the two states, and said to expand relations certain agreements need to be drawn up between the two nations.

He cited as putting an end to double taxation as well as customs' cooperation and trade preferentials as "legal bases" by the governments, meant to encourage private sectors to extend their trade and investments in one another's countries.

The Iranian official expressed hope that by establishing joint investment committees and holding specialized exhibitions, trading and investment between the two countries will flourish.

Alishiri also mentioned the privatization policy and the Iranian stock exchange as good opportunities for foreign investment in Iran.

Mohammad Sadegh Bin Katargani Malaysian Ambassador to Tehran reiterated the need to hold specialized exhibitions, and stated that Malaysian companies are eager to invest in Iran thanks to its huge potential.

He added that his country's foreign ministry is keen on promoting economic, political and cultural relations between the two states, and pledged to follow up on joint agreements.

The diplomat noted that major Malaysian companies have good operations in Iran, and pointed out that Iran could be a launching pad for his country's companies to do business with Central Asian, North African and Persian Gulf littoral states.  

Elsewhere, Iran's ambassador to Malaysia said on Tuesday Tehran-Kuala Lumpur trade exchanges have risen at an "unprecedented level."

Mehdi Khandaqabadi told the Mehr News Agency that ever since President Mahmoud Ahmadinejad took office, Iran-Malaysia economic relations have improved substantially.