(MENAFN) Iran is gearing up to host economy ministers from over 40 African nations at the upcoming second Iran-Africa International Summit, as announced by an official from Iran's Trade Promotion Organization (TPO). Mohammad Sadeq Ghanadzadeh, the director general of the Africa Department at TPO, revealed that the summit is scheduled to take place from April 26 to 29 in Tehran, the capital city.
The announcement came during a preliminary meeting convened for the summit, where TPO officials and representatives from various departments of the Iranian Ministry of Industry, Mining, and Trade were in attendance.
Despite facing challenges such as sanctions and pressures from the West, Iran has remained steadfast in its commitment to fostering ties with Africa, based on shared political and cultural affinities. Over the past four decades, Iran has maintained a principled policy toward Africa, consistently standing by the continent's people and nations.
While economic relations between Iran and Africa experienced growth between the Iranian calendar years 1384 and 1385 (March 2005-March 2007), they subsequently encountered setbacks due to economic crises and harsh sanctions against Iran. Despite these challenges, Iran's commitment to strengthening economic ties with Africa remains unwavering.
According to Ghanadzadeh, trade between Iran and African countries has hovered around USD1.2 billion in recent years. However, efforts to streamline trade routes with Africa are underway, with the aim of boosting trade volumes to USD10 billion within the next three years. Ghanadzadeh emphasized the significant potential of the African market for Iranian goods and underscored the strides made in leveraging Africa's capacity for mutual economic benefit.
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