(MENAFN) In the wake of the removal of anti-Tehran sanctions, Taiwan is yet another top nation that wastes no time to seal some vital deals, and it will start raising crude imports from the Islamic republic.
The small Asian nation intends to purchase two million barrels of crude oil from Iran at the end of July or early August; however its plans go beyond this initial amount depending on how things will turn out.
Moreover, Taiwan has a dynamic, capitalist, export-driven economy with gradually decreasing state involvement in investment and foreign trade, and this very fact is a huge motive for Iran to seek stronger ties.
Taiwan's quick industrialization and rapid growth during the latter half of the 20th century has been called the Taiwan Miracle, and Iran realizes the prospects of a solid well-established relationship between the two nations.
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