Iran, S. Korea to Boost Economic Relations
TEHRAN (Tasnim) – Head of Iran’s Trade Promotion Organization (TPO) Mojtaba Khosrotaj, who is on an official visit to South Korea, said Tehran and Seoul have agreed to promote bilateral trade.
Speaking at a meeting with a South Korean trade official, Khosrotaj said Iran seeks establishment of joint research and development centers by Iranian and Korean companies.
He further said the two sides have agreed to establish a “joint desk” with the aim of introducing the economic capacities and demands of Iran and South Korea to the two countries’ merchants.
Iran and South Korea signed 19 cooperation agreements back in May, pledging to increase their annual trade by three times as the current bilateral trade amounts to around $6 billion.
There has been a new wave of interest in ties with Iran since Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) reached a nuclear deal on July 14 and started implementing it on January 16.
The comprehensive nuclear deal, known as Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions imposed on Iran.
