Iran, Malaysia review trade, energy ties
TEHRAN (MEHR - Trend )
Iranian Deputy Oil Minister Seyyed Noureddin Shahnazizadeh met Malaysian International Trade and Industry Minister Datuk Mustapa Mohamed in Kuala Lumpur on Friday to discuss ways to expand ties in the energy field.
The Iranian official touched on the joint ventures underway between the two countries, particularly the establishment of oil and gas refineries and expressed Iran's preparedness for investing in Malaysia's different economic sectors, reported IRNA.
The Malaysian minister referred to the cooperation between private sectors of the two Muslim nations as 'progressive', calling for the governmental support of such relations.
Mustapa Mohamed appreciated the efforts of the organizers of the one-day seminar on investment opportunities in Iran which was held in Kuala Lumpur on June 11 and said he was scheduled to travel to Tehran in the near future to attend the Iran-Malaysia Joint Trade Commission.
Trade between the Islamic Republic of Iran and Malaysia in 2008 exceeded $17.5 billion, growing some 45 per cent from the previous year.
Manufactured goods, chemicals, steel, and agricultural products were Iran's main export-bound items to Malaysia, while the country imported electronic and electrical appliances, machinery and spare parts and rubber products.
Iran and Malaysia have signed investment projects worth $50 billion within the last four years, mainly in the oil industry, property development, transportation and power plant.
Iran-Malaysia Businessmen Council was inaugurated and officially started activity in Kuala Lumpur on June 4. A great number of Iranian firms are currently active in Malaysia.
Iranian Deputy Oil Minister Seyyed Noureddin Shahnazizadeh (L) meets Malaysian International Trade and Industry Minister Datuk Mustapa Mohamed in Kuala Lumpur on Friday.