TEHRAN, Iran, Feb.24
Trend:
Iran is to allocate 200 million euros credit line to develop exports of commodities and services to African countries, said the director-general of Iran's Trade Promotion Organization’s Office of Arabian and African Countries Farzad Piltan, Trend reports citing ILNA.
"There have been suggestions to expand ties between Iran and African countries by providing 200 million euros credit line, supporting the establishment of commercial centers, dispatching commercial consultants to African countries," he said.
"Iran's private sectors have potential to expand exports to the African countries. It has also been suggested that Iranian organizations could draft a four-year plan to develop economic ties with African nations," Piltan indicated.
Iran's export to African countries has reached $912 million during the first nine months of the current Iranian year (started March 21, 2021), showing a 199 percent increase compared to the previous year. Iran's export to Africa is predicted to increase to $1 billion by the end of the current Iranian year.