Iran, Malaysia to triple trade turnover
Tehran, Iran, June 7
By Mehdi Sepahvand – Trend:
Iran and Malaysia have signed a memorandum of cooperation to triple their trade turnover from the current value of $700 million, Iran’s Minister of ICT Mahmoud Vaezi said.
In a meeting with Malaysian Minister of International Trade and Industry Mustapa Mohamed in Tehran, Vaezi praised the agreement as a giant step toward strengthening ties between the two Muslim countries, Trend correspondent reported June 7.
He noted that Mohamed and his team who arrived in Tehran a day earlier had held successful meetings with other Iranian officials as well where “important and constructive agreements have been reached.”
The Malaysian minister earlier in the day visited an anti-cancer drugs factory in Iran, which is being built through a 70-30 percent joint venture between Iranian and Malaysian sides. The products of the factory will hit the market in four months.
He added that the heads of central banks of the two countries have also signed agreements to strengthen banking ties between Iran and Malaysia.
According to Vaezi, Malaysia has also opened a trade office in Tehran to operate export of palm oil to Iran.