Iran, South Korea call for collaboration in private sector to expand bilateral trade
Date
5/12/2024 5:02:51 AM
(MENAFN) Samad Hassanzadeh, the Head of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), emphasized the pivotal role of the private sectors in Iran and South Korea in bolstering trade relations between the two nations. During a meeting with South Korean Ambassador to Iran Kim Jun-pyo in Tehran, as reported by the ICCIMA portal, Hassanzadeh underscored the importance of facilitating visa requirements for Iranian economic actors by South Korea.
Highlighting the significant presence of Korean brands such as Samsung, LG, Daewoo, and Hyundai in Iranian society, Hassanzadeh emphasized the need for overcoming arbitrary sanctions that impede Iran's relations with South Korea. Despite the challenges posed by sanctions, he expressed the Iranian private sector's expectation for continued trade exchanges with counterparts in other countries.
Hassanzadeh pointed out Iran's substantial potentials in various sectors including techno-engineering services, refinery construction, food industries, automotive parts, and pharmaceuticals. He urged both Tehran and Seoul to prioritize these areas for collaboration, considering their promising prospects.
The volume of trade between Iran and South Korea, estimated at USD800 million, was deemed insufficient by Hassanzadeh, who emphasized the untapped potential for deeper economic engagement between the two countries.
In response, the Korean ambassador conveyed optimism about the future of bilateral relations, despite the challenges posed by sanctions. While acknowledging the limitations imposed on Korean companies due to sanctions, he expressed confidence in finding mechanisms to increase exchanges and foster stronger economic ties between Iran and South Korea. Despite the absence of Korean companies at the Iran Expo 2024, the ambassador noted his participation in the event, where he witnessed Iran's national capabilities firsthand.
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