Iran sets sight on African market for its goods, services
Tehran, Iran, November 6
By Mehdi Sepahvand -- Trend:
Iran is eyeing Africa as a good market for its goods and services, said Director-General of African Affairs at the Iranian Foreign Ministry Hossein Molla Abdollahi.
He believes that considering most African countries are on the track of economic development, they could be an attractive market for Iran, IRNA news agency reported November 6.
With its population of one billion people, Africa is an attractive market for goods made in Iran, while various minerals that exist in Africa can provide suitable raw material for many industrial units in Iran, the official said.
He pointed out that Iran can provide African countries with engineering services regarding the fact that African countries are improving their economic infrastructures.
It is reported that South Africa's Deputy President Cyril Ramaphosa will visit Iran this week to explore opportunities for co-operation in the energy sector with a view to attracting investment into a refinery Pretoria is planning to build.
South Africa is considering building an oil refinery that will process Iranian crude to bolster its petrol supply and reduce its dependence on foreign companies.
Pretoria has said it will resume oil imports from Iran if sanctions are lifted, but without its own refinery, it would have to rely on foreign oil companies.
South Africa has been diversifying its crude sources after the European Union and the United States imposed sanctions on Iran, its former top supplier.
According to latest statistics by Iran's Customs Administration, Iran's exports to Africa in the period from March 21 to September 21 reached $178 million, while the country's import from Africa hit $23 million.