Iran invites South Korean firms to launch production line on its soil
Tehran, Iran, Jul. 13
By Milad Fashtami - Trend:
Director of Trade Promotion Organization of Iran Valiollah Afkhami Rad invited South Korean companies to launch production line in Iran.
"Iranians consider South Korean goods high-quality goods, so the South Korean brands can take advantage of this fine opportunity and launch production line of home appliances and cars in the country," he explained, Iran's Mehr News Agency reported on July 9.
"By launching production line in Iran, the South Korean companies can also transfer their technology to Iranians," Afkhami Rad said.
He went on to note that the two countries' trade turnover needs to be increase significantly.
South Korea was among top five exporters of goods to Iran in the first two months of the current Iranian calendar year (March 21 - May 20).
Seoul exported 160,000 tons of goods worth $459 million to Tehran in the mentioned period, which is 16 percent less than previous year.
South Korea's exports to Iran accounted for 6 percent of Iran's total imports in the mentioned two month period.
Iran's annual trade turnover is projected to reach $160 billion by the end of the fifth five-year development plan (March 2016)