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Iran, Singapore ink agreement on reciprocal investments

Business Materials 29 February 2016 18:18 (UTC +04:00)

Baku, Azerbaijan, Feb. 29

By Khalid Kazimov - Trend:

Iran and Singapore have signed an agreement on the expansion of bilateral ties and reciprocal investment.

The agreement was signed at a meeting between Iranian Minister of Economic Affairs and Finance Ali Tayyebnia and Singapore's Ministry of Trade and Industry S. Iswaran in Tehran, Mehr news agency reported.

Ali Tayyebnia said that the agreement will pave the way for the expansion of bilateral economic ties and reciprocal investment between the two countries.

In turn, S. Iswaran described Iran as a stable country with a high economic potential and called for the expansion of bilateral ties.

Iswaran further said that his delegation, consisting of the representatives of governmental and privet companies, is exploring opportunities for investment and bilateral cooperation in Iran.

According to Iswaran, Singapore companies are interested in cooperation with Iran in the various sectors of petrochemicals, shipping, energy as well as transport.

Singapore is among the main importers of non-oil Iranian goods. Singapore mainly imports saffron, construction stones, iron and aluminum sheets, pistachios, and shrimps from Iran.

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