Iran increasing economic and commercial cooperation with Austria

Business Materials 23 November 2021 17:40 (UTC +04:00)

TEHRAN, Iran. Nov.23


The Iranian government is increasing economic and commercial cooperation with Austria, said Director-General Department of International Affairs of the Ministry of Cooperatives, Labour and Social Welfare of Iran Hamed Forozan, Trend reports citing IRNA.

The ministry has prepared a draft of a memorandum of understanding to accelerate economic cooperation between Iran and Austria, Forozan noted.

Iran officially invited the Austrian ambassador to visit the subsidiary holdings in the Social Security Investment Company (SHASTA), he indicated.

SHASTA is planning to invest some €10 billion in a number of projects, and the idea is to have Austrian companies to participate.

Meanwhile, the Iran -Austria joint economic cooperation meeting was held on Tuesday to discuss possible cooperation.