Iran can be regional hub for Europe to export products

Iran can be regional hub for Europe to export products

Baku, Azerbaijan, July 24

By Fatih Karimov - Trend: Iran can be a hub for Europe to produce joint products and export to the entire region, said Iran's Industry, Mining, and trade Minister Mohammad Reza Nematzadeh in the Iran-EU conference on trade and investment, which opened in the Austrian capital Vienna on July 23.

"Our priority is to develop oil and gas industries and to manufacture processed products, metal products, and cars meeting international standards, IRIB quoted Nematzadeh as saying July 24.

"Currently, the national laws allow 100 percent ownership to foreign investors in Iran," he added.

He expressed hope that the recent nuclear deal between Iran and world powers could broaden bilateral ties between Iran and Europe.

"Despite sanctions, we have made noticeable progress in technological fields. For example, industrial output and mineral output rose by 6.7 percent and 9.8 percent, respectively," he said.

Iran is willing to join the World Trade Organization and expand relations with Europe and Central Asia, he noted.

The Iran-EU conference is the first post-sanction economic conference between Iran and the European Union, aiming to review economic ties and discuss ways to boost trade between Iran and EU nations.

The two-day event is being held in cooperation with the Austrian Federal Economic Chamber and Trade Promotion Organization of Iran, as well as Iran's joint chambers of commerce with Germany, France and Britain.

Edited by CN

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