Iran, Singapore trade hits $2 billion

Business Materials 22 September 2012 13:45 (UTC +04:00)

Azerbaijan, Baku, Sep.22/ Trend F.Milad/

The value of annual trade between Iran and Singapore amounts to around $2 billion, but the two sides have the potential to further raise the figure.

Last year, Iran's Majlis Speaker Ali Larijani met with Singapore's Trade Minister Lim Hng Kiang in Kuala Lumpur and called for giving a boost to the bilateral trade, IRNA news agency reported.

Holding economic conferences to introduce investment opportunities by businessmen of the two sides will be helpful in this regard, the official said.

Singapore is the main importer of non-oil Iranian goods among members of the Association of Southeast Asian Nations, accounting for some half of the ASEAN's total non-oil imported from Iran. The country imported some $89 million worth of goods from Iran and exported around $29 million last year.

Singapore mainly imports saffron, raisins, construction stones, iron and aluminum sheets, pistachios, and shrimps from Iran.