Tehran Stock Exchange, Korea Stock Exchange ink document to boost co-op
Baku, Azerbaijan, Oct. 25
By Fatih Karimov - Trend:
Tehran Stock Exchange and Korea Stock Exchange signed a memorandum of intent and understanding (MIU) to expand cooperation, including holding training workshops.
Mohammad Fetanat, head of Securities and Exchange Organization (SEO) of Iran said on the sidelines of the signing ceremony that the first training workshop will be held next month in Seoul, Mehr news agency reported n October 25.
Meanwhile, Bahador Bijani, deputy head of SEO, said based on the agreement the two sides will close cooperation in different fields, including facilitation of foreign investment and establishment of links with capital market entities.
The volume of foreign investment in Iran's capital market is currently very low, while there are many requests for investing in the Iranian capital market, Bijani said.
The issue of joining SEO to the International Securities and Exchange Commission (ISCO) is being pursued seriously, he noted.
South Korea plans to expand its bilateral trade with Iran. The move comes as other nations rush to Iran to seize business opportunities with Iran in the wake of nuclear deal with world powers on the country's nuclear program.
South Korea was the 13th leading importer of Iranian non-oil goods in the previous Iranian calendar year, which ended on March 20, 2015, according to the Iran Customs Administration.
Iran exported $429.61 million of non-oil goods to South Korea and imported $4.309 billion of non-oil goods from the country.