(MENAFN) Iran's Trade Promotion Organization (TPO) has announced that the value of trade between Iran and Qatar is expected to reach USD3 billion by the Iranian calendar year 1404, which begins in March 2025. The estimated trade value includes export, import, joint investment, transit, re-export, and joint production. According to Farzad Piltan, the director-general of TPO's Office of West Asian Countries, the governments of both countries are negotiating and providing infrastructure to achieve this goal.
The head of TPO, Alireza Peyman-Pak, emphasized the expansion of trade ties with Qatar and cooperation with Qatari traders and businessmen in the field of partnership, joint investment, and infrastructure development during the Iran-Qatar business forum in Tehran in March. He stated that although Qatar has close political ties with Iran, enough attention has not been paid to the economic opportunities for cooperation in recent years. However, the 13th government has given serious attention to the development of business relations with Qatar in recent months, with efforts such as sending commercial attaches, establishing a trade center, holding a special exhibition, and sending business delegations.
In October 2022, Mohsen Rezaei, the Iranian vice president for economic affairs, and Qatar's Emir Sheikh Tamim Bin Hamad al-Thani discussed ways of expanding trade ties between the two countries. They emphasized the need to reach the goal of $3 billion of annual trade by 2025 and proposed drawing a roadmap for trade development between the two countries. The proposal was welcomed by Qatar's Emir, who attended the meeting with the TPO head.
To further promote trade relations, Rezaei and Peyman-Pak visited Doha with a trade delegation to attend the opening ceremony of Iran's exclusive exhibition in the country. The potential for growth in trade between Iran and Qatar is significant, and the efforts of both governments to increase cooperation and infrastructure are promising. If successful, the boost in trade value can contribute to the economic development of both nations and strengthen their bilateral ties.
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