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Based on the client requirement, different investment plans suits and fulfill your business and invest requirement.


Highest education rate in region

Low Costs

Cheap and abundant raw materials, energy and transportation


High rate of Internet penetration and access to online shopping (74%)

Tax Free Zones

Iran has dozens of Tax Free & Special Economy zones

Austria Seeks Tax Agreement with Iran

(-0.05%) -2 3,745 price_dollar (2.34%) 100 4,270 price_eur (-1.5%) -74 4,857 price_gbp (1.75%) 18 1,028 price_aed (-0.17%) -20,000 11,770,000 sekeb (0%) 500 12,119,000 sekee (-0.08%) -5,000 6,415,000 nim (-0.13%) -5,000 3,735,000 rob (0.4%) 10,000 2,510,000 gerami (0.01%) 120 1,138,980 geram18 (0.01%) 150 1,518,620 geram24 (0.01%) 500 4,933,500 mesghal (0.01%) 10 1,243.30 ons (-0.11%) -100 923.00 platinum (0.06%) 1 16.54 silver

Iran Sends Shipments of Food to Qatar by Air

(-0.05%) -2 3,745 price_dollar (2.34%) 100 4,270 price_eur (-1.5%) -74 4,857 price_gbp (1.75%) 18 1,028 price_aed (-0.17%) -20,000 11,770,000 sekeb (0%) 500 12,119,000 sekee (-0.08%) -5,000 6,415,000 nim (-0.13%) -5,000 3,735,000 rob (0.4%) 10,000 2,510,000 gerami (0.01%) 120 1,138,980 geram18 (0.01%) 150 1,518,620 geram24 (0.01%) 500 4,933,500 mesghal (0.01%) 10 1,243.30 ons (-0.11%) -100 923.00 platinum (0.06%) 1 16.54 silver

Iran Eyes Boom in Trade with EAEU after Free-Trade Deal

(-0.05%) -2 3,745 price_dollar (2.34%) 100 4,270 price_eur (-1.5%) -74 4,857 price_gbp (1.75%) 18 1,028 price_aed (-0.17%) -20,000 11,770,000 sekeb (0%) 500 12,119,000 sekee (-0.08%) -5,000 6,415,000 nim (-0.13%) -5,000 3,735,000 rob (0.4%) 10,000 2,510,000 gerami (0.01%) 120 1,138,980 geram18 (0.01%) 150 1,518,620 geram24 (0.01%) 500 4,933,500 mesghal (0.01%) 10 1,243.30 ons (-0.11%) -100 923.00 platinum (0.06%) 1 16.54 silver

Iran’s Administration Considers Reviving Commerce Ministry

(-0.05%) -2 3,745 price_dollar (2.34%) 100 4,270 price_eur (-1.5%) -74 4,857 price_gbp (1.75%) 18 1,028 price_aed (-0.17%) -20,000 11,770,000 sekeb (0%) 500 12,119,000 sekee (-0.08%) -5,000 6,415,000 nim (-0.13%) -5,000 3,735,000 rob (0.4%) 10,000 2,510,000 gerami (0.01%) 120 1,138,980 geram18 (0.01%) 150 1,518,620 geram24 (0.01%) 500 4,933,500 mesghal (0.01%) 10 1,243.30 ons (-0.11%) -100 923.00 platinum (0.06%) 1 16.54 silver

India thinks highly of Iran’s energy sector

TEHRAN, Jun. 20 (MNA) – The Ambassador of India to Iran, Saurabh Kumar, said JCPOA’s most significant achievement was the rise in India’s crude imports from Iran through local currencies.

Iran and India possess an age-old history of cultural and trade ties though the trend has been limited to energy and agricultural sectors in the past 10 years due to sanctions imposed on Iran's nuclear program.

During tough years of sanctions, India was one of the few countries whose economic and trade relations with Iran persisted the main factor being culture as well as deepening of civilization ties.

India enjoys a special position in Iran’s strategic policy towards the Eastern world since it remains as the fourth largest economy in the world which is rapidly pursuing the path of development with a growth rate of seven percent. Iran, in turn, is the largest regional economy and the 20th largest global economy. The remarkable point is the complementary nature of the two countries’ economies. As such, expansion Iranian and Indian economies not only will not limit their peripheral space, but add to the pace of economic growth in the two countries and will compensate for the shortcomings.

In this regard, the international desk of Mehr News Agency (MNA) conducted an interview with Ambassador Saurabh Kumar in Tehran.

What is the common ground of cooperation between Iran and India?

India – Iran relationship is a very old relationship. It is a very historical relationship, and we have had good bilateral ties, and people to people contacts. So we look forward to our relationship growing further in all areas including political, economic, cultural, people to people and scientific and technical exchanges.

We already have a good base for moving ahead in these areas. We are doing good in some of these areas, but potential is a lot more. So we are working for expanding the relationship. Hydrocarbon or energy sector is an important sector for cooperation. Chabahar, trade, connectivity are other areas where we are working. Our prime minister’s visit last year was reflective of the desire on both sides that we want to broaden and deepen our relations.

What changes were made in the volume of economic relations between two countries after JCPOA (Joint Comprehensive Plan of Action)?

The most significant consequence of the JPOA was that we are now importing more Iranian crude oil. We are also able to pay Iranian side for the crude oil which we buy in hard currency. This was not possible before the JCPOA. Crude oil is very important and significant part of our bilateral trade. So this is something which has benefited us and has benefited you. Before the JCPOA there were restrictions on the crude we could buy from you since banking channels were not working. After the JCPOA there are no obstacles in the way of crude purchase by India form Iran. So this is a very positive development.

What position does Iran hold in providing the supply of India's energy? Shall we expect that the volume of India's energy imports from Iran will increase?

As I told you energy cooperation is a very important part of our cooperation. Before sanctions, Iran was at number two position in supplying crude to India. I am happy to inform you that after the JPOA, we started importing more and more of Iranian crude.  Today Iran has improved its potion. It is the second largest supplier of crude to India. Last year we bought 20 million metric tons of crude from Iran worth almost 7 billion US dollar. So we are satisfied that energy partnership has progressed. But we have an understanding that we want to move away from a buyer-seller relationship to a more comprehensive energy partnership. This is what we need to work towards.

What is the alternative for India to the Peace Pipeline?

I would not like to go into history of the pipeline. We should look ahead. Pipeline is one of the options for transfer of gas from Iran to India. There are other options too which are also available. LNG is one such option; modern technology provides other possibilities. So we look at all these when we have discussion with our Iranian friends. Whichever option is most practical from commercial point of view and is technically feasible, is the option which we would be ready to work with.

As you know, India skipped One Belt One Road Forum (Silk Road) held in China under the pretext of the unsolved Kashmir dispute. Now the question is how India might form its future economic bloc facing the US withdrawal from TPP and China's effort to revive the Silk Road? Will India finally join the New Silk Road project?

India's position in OBOR (One Belt-One Road) which now is being referred to as BRI (Belt and Road Initiative) is very clear. China-Pakistan Economic Corridor (CPEC) passes through Indian Territory which is under the illegal occupation of Pakistan. CPEC is an important component of BRI. So it would be appreciated that India for this reason, has difficulties with BRI. As far as India's economic relationships are concerned, we would like to have good economic ties with all countries. For example, India is part of the negotiations on RCEP in which China, South East Asian countries and others are involved. We are carrying on negotiations with Europe Union for an economic partnership but these have not been successful till now. We are also looking at Eurasian Economic Union for a structural relationship with it. And we are an active member of the WTO, and would like to see that its agenda moves ahead. So we do not see a scenario which you are implying viz. India is part of one group against the other. We would want to have good economic relationship with all.

Nuclear Suppliers Group meeting is held next month in Switzerland and India will forward his request to join this group. China announced once again that our position for joining India in the Nuclear Suppliers Group has not changed, and we are opposed to membership of countries that have not signed the NPT treaty. Given the fact that China has veto rights in the UN Security Council, what will India do in this context?

Our policy is clear. India wants to join the Nuclear Suppliers Group and we would continue our consultations with all parties, including China to achieve our objective.

Interview by: Banafshee Esmaeili

Italy to conduct development studies in 2 Iranian fields

Italy to conduct development studies in 2 Iranian fields - Mehr News Agency امضای تفاهمنامه بین شرکت ملی نفت ایران و شرکت Eni ایتالیا TEHRAN, Jun. 20 (MNA) – As per an MoU, development studies of Kish gas field and Phase 3 of Darkhoin oilfield were handed over to Italy’s Eni oil industry company.

The MoU-signing ceremony between National Iranian Oil Company (NIOC) and Eni S.p.A of Italy was attended by NIOC Managing Director Ali Kardor.

The cooperation agreement pertains to conducting development studies over one gas and one oil field in Iran by the Italian multinational oil and gas company headquartered in Rome.

The deal was sealed by Deputy Head of NIOC for Development and Engineering Affairs Gholamreza Manouchehri as well as Antonio Vella, Chief Upstream Officer of Eni.

Meanwhile, under the provisions of the Memorandum of Understanding, Eni is committed to carry out development studies over Kish gas field and Darkhoin oil field within a six-month period on an inclusive basis.

Ghadir Investment Company and Philippine National Oil Company had previously inked a Memorandum of Understanding (MoU) for development study of Darkhoin field.

On the other hand, study of Kish gas fields has been assigned to Royal Dutch Shell oil industry company as well as Russia’s Gazprom.


Economy min. meets AIIB senior officials

Economy min. meets AIIB senior officials - Mehr News Agency aiib TEHRAN, Jun. 20 (MNA) – Iran’s Economy Minister Ali Tayebnia, while in South Korea, met and talked with two vice presidents of the China-led Asian Infrastructure Investment Bank (AIIB).

The meeting was held on the sidelines of 2017 AIIB Annual Meeting in Jeju of South Korea and began with a report on formation of the Asian Infrastructure Investment Bank and procedures for admission of new members.

Iran’s Tayebnia said “in line with its principal policy of boosting cooperation with international institutions, Islamic Republic of Iran joined AIIB as a founding member with support of the Iranian Parliament and the Guardian Council.”

“Iran’s government attaches great importance to development of ties with Asian countries and international institutions,” he continued.

Economy minister of Iran also voiced gratitude towards prudent and non-political management of AIIB stating that all activities of the new multilateral financial institution are all based on technical and expert considerations; “in the same line, investigation of the projects introduced by Iran are being well pursued by AIIB delegations and these projects will hopefully receive approval of AIIB’s board of governors.”

Ali Tayebnia also expressed the country’s readiness to bolster relations with AIIB in other fields like technical assistance and training of human resources.

Later, the official voiced support of Islamic Republic of Iran for admission prospective members to the bank in order to strengthen AIIB and turn it into the largest international developmental bank.

Also at the meeting, vice presidents of AIIB presented a report on the process of reviewing the proposed projects by Iran and voiced AIIB’s readiness to conduct final evaluation of wastewater improvement projects in three Iranian provinces to be later confirmed by the board of directors for receiving necessary funds.

The Asian Infrastructure Investment Bank (AIIB) is a new multilateral financial institution founded to bring countries together to address the daunting infrastructure needs across Asia.

Iran was accepted as a founding member of the China-led Asian Infrastructure Investment Bank (AIIB) in April 2015.


Korea Eximbank to finance Iranian projects

Korea Eximbank to finance Iranian projects - Mehr News Agency نشست خبری علی طیب نیا وزیر اقتصاد و دارایی TEHRAN, Jun. 20 (MNA) – The Export–Import Bank of Korea has voiced willingness to finance civil and infrastructure projects of Iran.

Iran’s Economy Minister Ali Tayebnia, who is in South Korea to attend the 2nd AIIB Annual Meeting, met and talked with Lee Duk-Hoon, Chairman and President of Export–Import Bank of Korea, also commonly known as the Korea Eximbank (KEXIM).

Negotiations were held at the joint meeting over financing Iran’s civil and infrastructure projects in energy, petrochemical, oil and health sectors.

An agreement was also reached on the final draft of the long-negotiated deal for opening a Line of Credit (LOC) worth eight billion euros.

 The South Korean side also expressed eagerness to supply necessary financial resources to Iranian projects and called for introduction of projects in energy, petrochemical, oil and health arenas as well as for presence of Korean companies in Iran.

The Iranian economy minister, while pointing to positive economic developments and abundance of emerged opportunities in Iran, emphasized that great potentials for collaboration led numerous countries to voice readiness for economic and financial cooperation with Iran.

“Determination and Seriousness of the Korean side can pave the path for implementation of previously-signed agreements between the two countries,” Tayebnia concluded.

On the sidelines of 2017 AIIB Jeji, the Iranian minister met with his South Korean counterpart Dong-yeon and the two sides exchanged views of economic issues like creating credit lines between the two sides and opening branches of Iranian financial institutions in South Korea.

The 2nd Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) to be held in the city of Jeju from June 16-18, 2017.

Accordingly, talks with South Korean banks over creation of LOCs are being finalized though agreements need to be reached by ministers of the two countries in order to resolve certain issues.


Indonesia able to link Iran to ASEAN countries

Indonesia able to link Iran to ASEAN countries - Mehr News Agency

ICCIMA head:

شافعی TEHRAN, Jun. 19 (MNA) – ICCIMA Head Shafei, while pointing to age-old trade ties between Tehran and Jakarta, described Indonesia as a major destination for Iranian businessmen.

Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholamhossein Shafei made the remarks at a meeting with Indonesian Ambassador to Iran Octavino Alimudin.

Iran’s Sahfei pointed to considerable economic growth made by the Southeast Asian country saying “volume of trade turnover between Iran and Indonesia, which had reached a record high of two billion dollars in 2011, has declined to 500 million dollars due to sanctions.”

He however noted that implementation of the Joint Comprehensive Plan of Action (JCPOA) changed the image by creating a new positive atmosphere in economic transactions and bilateral investments.

“Iran attaches great significance to East Asian and Muslim countries especially Indonesia who enjoys excellent potentials for reinvigoration of economic ties.”

The official touched upon good energy cooperation between the two parties and went on to say that Iran can act as a gateway to CIS countries for Indonesia while the Southeast country can link Iran to ASEAN in turn.

ICCIMA head pointed to a gap in communications between economic activists of Iran and Indonesia calling for exchange of more delegations in a bid to identify venues for collaboration.

The Indonesian ambassador, for his part, said holding of frequent sessions between traders of the two countries was a sign of determination to advance economic targets.

Octavino Alimudin said implementation of earlier agreements will lead to an upsurge in bilateral trade turnover between Tehran and Jakarta.

“An Indonesian oil company purchased 88 million dollars of crude last year from Iran while the figure will climb to 220 million dollars in the present year,” highlighted the official pointing to the rise in oil trade between the two side.

He further called for improvement of trade tariffs between Iran and Indonesia saying “a delegation is slated to visit Tehran soon in order to spot and remove barriers to commercial transactions.”

Alimudin confirmed the remarks made by Shafei who described Iran as a regional hub however noting that the competitive atmosphere created by other countries like Qatar also needs to be taken into account.

At the end of his remarks, ambassador of Indonesia to Tehran deemed industry, agriculture and mining as possible fields of cooperation between Iran and Indonesia.


IME trades 24k tons of petroleum products in one day

IME trades 24k tons of petroleum products in one day - Mehr News Agency بورس کالای ایران TEHRAN, Jun. 18 (MNA) – The hall of petroleum and petrochemical products at Iran Mercantile Exchange (IME) experienced a total of trade of 24,057 tons on June 17.

Accordingly, 6,850 tons of vacuum batons, 2,520 tons of polymer materials, 10,129 tons of chemicals, 4,248 tons of asphalt, 10 tons of argon, 150 tons of heavy Slack Wax as well as 300 tons of granulated sulfur were traded.

The hall of agricultural products also witnessed sales of 200 tons of maize, 100 tons of crude oil, 900 tons of white sugar and 10,500 tons of wheat.

Additionally, 10,052 tons of feed barley were traded in the same hall within framework of guaranteed prices plan.

The export of hall of Iran Mercantile Exchange also experienced trade of 7,570 tons of bitumen in transactions carried out on Saturday June 17, 2017.

Iran Mercantile Exchange was established on September 20, 2007 in accordance with article 95 of the new law of the Securities Market of the Islamic Republic of Iran and following the merger of the agricultural and metal exchanges of Tehran. The merger marked a new chapter in Iran capital market providing endless trading opportunities for the clients in and out of the country.


Iran, India call for boosting credit lines

Iran, India call for boosting credit lines - Mehr News Agency نفت ایران هند TEHRAN, Jun. 18 (MNA) – Economy ministers of Iran and India met in Seoul and examined ways to facilitate the use of credit lines.

Iran’s Economy Minister Ali Tayebnia is staying in South Korea to take part at the 2nd Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) to be held in the city of Jeju from June 16-18, 2017.

On the sidelines of the event, the Iranian minister met and talked with the Indian Finance Minister Arun Jaitley.

As per agreements reached during the joint meeting, Tehran and New Delhi emphasized on the need to expedite implementation of joint measures and it was agreed that resources be allocated to construction and completion of Chabahar-Zahedan-Mashhad railway.

Given the interest of both countries to develop Chabahar port, it was decided to allocate funds from India in a bid to remove barriers to presence of private sectors of the two countries in the south Iranian port.

Agreement on continuous cooperation in the field of transfer of funds was yet another issue raised at the meeting.

At the end of the session, Iran’s Tayebnia invited his Indian counterpart to make a visit to Tehran.

The Asian Infrastructure Investment Bank is an international financial institution that was established with initiative of China with Iran being one of its shareholders.

The main objective of the establishment of the bank is to provide financial assistance to countries in the Silk Road region and enhance infrastructure development in the Old Continent. Iran formally joined the bank in December 2016 and now possesses 1.61 percent of stake ranking eleventh in this regard.

The 2017 meeting of the Asian Infrastructure Investment Bank agreed with membership request issued by Argentina, the Republic of Madagascar and the Kingdom of Tonga.


Iran’s TVTO, Turin Centre ink MoU

Iran’s TVTO, Turin Centre ink MoU - Mehr News Agency هفده تن TEHRAN, Jun. 18 (MNA) – Iran's Technical and Vocational Training Organization (TVTO) and the International Training Centre of the ILO (ITC/ILO) have signed a cooperation agreement.

The Memorandum of Understanding (MoU) was sealed on the sidelines of the 106th Session of the International Labor Conference, June 2017.

Hassan Hefdahtan, International Affairs Director of the Iranian Ministry of Cooperative, Labor, and Social Welfare, said during the MoU-signing ceremony that “the most important issue faced countries today is lack of congruence between labor market and existing skills hence the need for harmony between the two.”

He pointed to great potentials of Iran’s TVTO highlighting that Iran possesses 200 state centers for free training as well as 12,000 private centers who receive licenses from Labor Ministry.

“Given the position enjoyed by Iran’s TVTO, the opportunity to develop joint cooperation of the body at a global level, especially with the ILO International Training Centre (ILO-ITC) in Turin, Italy, holds great significance,” noted Hefdahtan.

The Turin Centre is the training arm of the International Labor Organization (ILO) which established the International Training Centre in 1964 in Turin, Italy, as an advanced vocational training institute.

It has since matured into a focal point for high-level in-service training. This takes place in Turin, in course participants' home countries or via the Internet.

The Centre provides training and related services that develop human resources and institutional capabilities. We thereby contribute to achieving the ILO's goal of decent work for women and men.


Half a meter land subsidence in Tehran annually

Half a meter land subsidence in Tehran annually - Mehr News Agency

IUESA secy.:

Mohsen Tabatabaei TEHRAN, Jun. 17 (MNA) – Referring to some of the acute crises of Iranian cities, particularly in Tehran Metropolis, Seyyed Mohsen Tabatabaei Mozdabadi, secretary of IUESA said distressed and old fabric, air pollution, earthquake, flood, land subsidence, urban poverty, and informal economy are some of the major natural hazards threatening urban life.

Seyyed Mohsen Tabatabaei Mozdabadi, secretary of Iran Urban Economics Scientific Association (IUESA), in the live T.V. program of IRINN channel enumerated threats against Iran urban resilience saying “Tehran’s major crises include earthquake, flood, land subsidence and informal economy.”

Noting that urban resilience means a sustainable network of physical systems and human societies, he said resilient cities are flexible against crises and they keep their structure. 

Emphasizing that urban resilience is the capacity of individuals, communities, institutions, businesses, and systems within a city to survive, adapt, and grow no matter what kinds of chronic stresses and acute shocks they experience, he added considering that cities have variety of economic dimensions, one of the aspects and subsets of urban resilience can be allotted to economic issues, and consequently sustainable urban revenues can be one of the resilience components of urban economy.

Evaluating the share of sustainable revenues in financing urban projects and services between 20 and 25 percent, the urban expert further said this figure is 65 and 78 percent in metropolises such as Stockholm and Tokyo respectively.

Saying that it has been specified in the second five-year plan of Tehran Municipality to improve the share of sustainable revenues 10 percent annually, he added urban resilience in economic area depends on revising income and cost situation of city management.

We need legal bills in order to have sustainable revenue in cities and monetary and banking institutions should attend and participate in urban development issues as well, Tabatabaei added.

Referring to the world resilient cities, he said Canada enjoys the world three premier cities in terms of resilience i.e. Toronto, Vancouver, and Calgary and the most vulnerable ones are Dhaka, Jakarta, Manila, and Cairo in developing countries.

Referring to some of the acute crises of Iran cities, particularly in Tehran Metropolis, Seyyed Mohsen Tabatabaei Mozdabadi, secretary of IUESA said distressed and old fabric, air pollution, earthquake, flood, land subsidence, urban poverty, and informal economy are some of the major natural hazards threatening urban life.

Adding that our country has nearly 60 thousand hectares old textures, he said there are about 3 thousand hectares distressed areas in Tehran Metropolis that may aggravate possible disaster in case of critical condition.

Referring to the issue of land subsidence, he said this is due to inattention to environmental aspects of development since we may consider a crisis in long-term for indiscriminate use of underground water resources and lack of management to control flowing water into underground.

Regarding the statistics about land subsidence in Tehran, the Vice-President of IUESA said researches indicate Tehran subsides between 30 and 37 centimeters annually that it cannot absolutely compare to the world norms.

Stating that one of the other natural hazards in cities, particularly Tehran, is flood, he further said city’s horizontal expansion, particularly in watercourses worsened the situation. Moreover, natural factors such as steep slope, lack of dense vegetation, and rainfall intensity have changed the city into a possible-flooding city.

Most Iran’s cities do not have a resilient roadmap and the capacity of universities and scientific associations should be used in this area. Iran Urban Economics Scientific Association (IUESA) is ready to help in this regard with state municipalities, Tabatabaei said.


Iran oil output rises in May: OPEC

صادرات نفت ایران

Tehran (ISNA) - Iran produced 3.795 million barrels per day of oil in May, an increase of 4,000 bpd from 3.791 million bpd in April, the Organization of the Petroleum Exporting Countries (OPEC) announced in its monthly report released on Tuesday.

The report also indicates that OPEC’s output has risen to 32.139 million bpd in May from 31.803 million bpd in April.

Iran’s oil production stood at 3.796 million bpd in the first quarter of 2017, rising from 3.741 million bpd in its previous quarter, according to the OPEC’s report.

The report also put the country’s heavy oil price at $49 in May, dropping from $51.12 in April.

It says Iran’s heavy crude price has been $51.01 on average since the beginning of 2017, while the figure was $32.76 in the same period of time in the past year.

A deal reached last December between OPEC members and non-OPEC producers asserted that producers will lower output by nearly 1.8 million bpd aiming to ease a global glut that has weighed on oil prices for more than two years.

End Item

Iran absorbs $3.37b investment: UNCTAD

Tehran (ISNA) - The UNCTAD wrote in its recent report, published in June 2017, that Iran has attracted more than $3.37 billion, showing a 64-percent growth.

The UNCTAD announced that in 2016, the year the sanctions on Iran were terminated, Iran could attract $ 3.372 billion, The Nation reported.

The report also says that foreign investment in Iran had declined for few years. But in 2016, Iran enjoyed a %64 growth in foreign investment attraction.

In 2016, 37 international investment agreements were signed. Turkey topped the foreign investment table with 7 contracts and Iran came second with 3.

UNCTAD is a permanent intergovernmental body established by the United Nations General Assembly in 1964. Its headquarters are located in Geneva, Switzerland, and it has offices in New York and Addis Ababa. UNCTAD is part of the UN Secretariat. It reports to the UN General Assembly and the Economic and Social Council but has its own membership, leadership, and budget. It is also part of the United Nations Development Group.

The Division on Investment and Enterprise of UNCTAD serves as the focal point for all matters related to foreign direct investment and multinational enterprises in the United Nations System. It builds on more than four decades of experience and international expertise in research and policy analysis on investment and enterprise development, fosters intergovernmental consensus-building, and provides technical assistance to over 150 countries.

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Iran signs deal to acquire 60 Boeing aircraft

Tehran (ISNA) - Iran’s Aseman Airlines and the US airplane manufacturer Boeing have finalized a deal on purchasing 60 aircraft.

Iranian Labor Minister Ali Rabiei attended a ceremony in Tehran for clinching the contract with the American airplane maker.

“The agreement involves the purchase of 30 Boeing 737 MAX planes as well as the purchase rights for an additional 30 planes of the same class. Five percent of the cost will be paid by Aseman Airline and the remaining 95 percent would be finance,” he said.

Chicago-based Boeing said the deal for all 60 planes is worth $6 billion and would create 18,000 jobs.

Earlier this year, Aseman Air and the US Company negotiated a MoU on the deal for the 60 Boeing 737 aircraft which are expected to be gradually delivered since 2019.

In a separate development, Boeing and Iran Air, the country’s flag carrier, concluded a deal on purchasing 80 aircraft. The delivery of Iran Air aircraft will begin next year and will be completed within 10 years.

End Item

Iran raises oil exports to West, almost on par with Asia

Tehran (ISNA) - Iran's oil exports to the West surged in May to their highest level since the lifting of sanctions in early 2016 and almost caught up with volumes exported to Asia, a source familiar with Iranian oil exports said.

Iran, which used to be OPEC's second biggest oil exporter, has been raising output since 2016 to recoup market share lost to regional rivals including Saudi Arabia and Iraq.

While many Asian nations continued to purchase oil from Iran during sanctions, Western nations halted imports, halving Iran's overall exports to as little as one million barrels per day (bpd).

Last month, Iran exported about 1.1 million bpd to Europe including Turkey, almost reaching pre-sanction levels and only slightly below the 1.2 million bpd supplied to Asia, the source told Reuters.

Iran's exports to Asia last month were the lowest since February 2016, Reuters' calculations showed.

Oil exports to Asia fell as South Korea and Japan stepped up oil condensate purchases and bought less oil, said the source, who asked not to be identified as the information is confidential.

"Iran's condensate parked in floating storage has almost been exhausted because of higher purchases by Japan and Korea," the source said.

Exports to Asia were also hit by India's decision to cut annual purchases from Iran by a fifth for the fiscal year to March 2018.

After the lifting of sanctions, Tehran added new clients such as Litasco and Lotos and won back customers such as Total (TOTF.PA), ENI (ENI.MI), Tupras (RDSa.L), Repsol (REP.MC), Cepsa CPF.GQ and Hellenic Petroleum (HEPr.AT).

OPEC member Iran was allowed a small production increase under a December deal to limit output.

Iran's overall May oil production totaled 3.9 million bpd, the source said.

Iran is currently producing about 200,000 bpd of West Karoun grade, which the nation blends with other Iranian heavy grades for export, he said.

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Iran Air managing director elected to IATA board of governors

ایران ایر

Tehran (ISNA) - Managing director of the Airline of the Islamic Republic of Iran, Iran Air, was chosen as a member of the board of governors of the International Air Transport Association (IATA), Iran Air portal reported.

According to Iran Air, Farhad Parvaresh’s membership to the IATA board of governors was accepted during the association’s 73th annual general meeting which was held in Mexico on June 4-6.

For the first time after Iran’s Islamic Revolution, Farhad Parvaresh was chosen as a member of the board.

“Along having access to the latest knowledge and technologies in aviation industry, this membership could pave the way for Iranian airliners’ more significant presence in the world markets,” Iran Air portal wrote.

End Item

Iran oil export to Turkey doubles

Tehran (ISNA) - Iranian oil export to Turkey increased more than two times to 211,101 barrels per day during the first quarter of 2017 compared to the same period last year.

According to the statistics released by Turkey’s Energy Market Regulatory Authority, Iran exported more than 2.62 million tons of oil to the country in January-March, Zawya reported.

Iran also delivered 2.41 billion cubic meters of gas to Turkey in the same period, about 240 million cubic meters more than the first quarter of 2016. Turkey is Iran’s main gas importer.

Iran exported 7.7 billion cubic meters of gas as well as 6.6 million tons of crude oil to Turkey in 2016. Iran used to sell around 800,000 bpd to European buyers before the tightening of international sanctions in 2011 and 2012.

Tehran has staged a strong rebound in oil output and exports after sanctions were lifted in January 2016.

It is now producing close to 4 million barrels of oil and condensates per day, with exports reportedly at 2.8 million barrels per day.

End Item

Russian companies express interest in developing 9 Iranian oil and gas fields

Tehran (ISNA) - Following the conclusion of the St. Petersburg International Economic Forum (SPIEF) on Saturday, Iran's deputy oil minister for international affairs Amir-Hossein Zamaniniya talked to Sputnik about the prospects for Russian companies developing Iranian oil and gas fields.

Iran and Russia inked a roadmap for cooperation in the energy sector at the 21st St. Petersburg International Economic Forum (SPIEF 2017). These are intended to create favorable conditions for joint investment projects between the two countries.

The roadmap was signed by Amir-Hossein Zamaniniya and Russia's deputy minister of energy Kirill Molodtsov in a meeting between the joint energy task forces of Tehran and Moscow at the 2nd meeting of the Russian–Iranian working group for energy cooperation under the permanent Russian–Iranian joint trade and economic commission.

The roadmap came as the result of talks behind the closed doors between the Iranian authorities and Russian oil and gas companies, which presented their suggestions for the exploration and development of Iranian oil and gas fields.

"It was my first time participating in the St. Petersburg International Economic Forum. I've used this unique opportunity to talk with the leading representatives of the oil and gas sector and economic structures. I had meetings with several directors of oil companies, and with the energy ministers of a number of countries. I participated in several plenary sessions with very interesting discussions on the prospects for the oil and gas sector," Zamaniniya told Sputnik.

One of the most vital issues which discussed at the Forum, the Minister said, was the impact of the energy sector on the environment and the balance between the energy and the environment. Among the new aspects which were discussed at the Forum was the role of oil and gas as fossil fuels after 2050.

“There is every probability that the percentage of oil and gas in the world's energy basket won't remain the same as it is today, at 80 percent, but still will be sizable. Hence there should be serious investments into the development of the oil and gas sector. Interesting and innovative solutions to the oil and gas sector were also presented at the Forum,” he added.

Amir-Hossein Zamaniniya also commented on the meeting of the Russian–Iranian working group for energy cooperation, saying that the 6-7 largest Russian oil and gas companies have expressed their interest in developing nine Iranian oil and gas fields.

They have already conducted preliminary studies and have evaluated all the necessary work. Some already have so-called Master Development Plans (MDP). Iran will now review and study these plans.

“There is a very high potential for cooperation between Russian and Iranian oil and gas companies,” the official noted.

 He also expressed hope that the practical phase of cooperation will be launched in the nearest future.

In a separate comment on the issue, Iranian minister of communications and information technology Mahmoud Vaezi, co-chairman of the Russian-Iranian intergovernmental commission on trade cooperation, noted to Sputnik that one of the top priorities of the government of recently re-elected President Hassan Rouhani is the development of cooperation with Russia.

The meetings between the Presidents of Russia and Iran, he said, had played an important role in this process.  During these meetings they set up very a sincere relationship, one based on trust. The setup of the Russian–Iranian working group on the joint trade and economic commission came as the result of these meetings, the minister said.

He also pointed out the development of the trade and economic cooperation between the two countries, saying that their growth amounted to 80 percent. Large bilateral contracts have been signed in different spheres of cooperation, but the oil and gas sector remains the sector for the largest joint investments.

Mahmoud Vaezi also noted that Russia's energy minister Alexander Novak has repeatedly visited Iran and had very fruitful talks.

Iran is currently engaged in active negotiations with Russia's gas giant Gazprom on a number of large-scale projects.

He praised the results of the Forum and the meeting of the Russian-Iranian working group and noted that the largest Russian and Iranian oil and gas companies have a very promising future.

End Item 

South Korea to Help Iran Build Mini LNG Plants

TEHRAN (FNA)- Iran is working on a plan to develop sophisticated small-sized gas liquefaction units, named Mini-LNG plants, with South Korea to meet the energy needs in remote areas of the country, an energy official announced.

"An agreement to the same effect had been signed in South Korea’s Busan last week and that work over the construction of the first mini-LNG plants could begin within next four years," R&D Director of the National Iranian Gas Company (NIGC) Saeed Pakseresht said.

"We do not have the technology to develop mini-LNG plants, but joining hands with companies like Oceanus consortium and KOGAS (South Korean's public natural gas company) is an important first step to develop our LNG sector," he added.

The Korean companies involved in the project are Oceanus, Kitech Institute of Industrial Technology and Korea Gas Technology Company.

The Iranian parties involved are the NIGC, the LNG Institute of Tehran University and the Research Institute of Petroleum Industry (RIPI). 

In a relevant development in mid-June, media reports said that South Korean financial officials were in talks with their Iranian counterparts to open a 13-billion-dollar credit line for investment in Iran.

"Korea Eximbank (KEXIM) will provide the lion share of $8 billion of funds to Iran. The rest of the funds $5 billion will be provided by Korea Trade Insurance Corporation in the coming weeks," the Persian-language Sharq newspaper reported.

It said that Iranian Economy Minister Ali Tayyebnia will travel to Seoul soon to finalize the procedures for Iran to receive the loan.

Iran and South Korea have also agreed on the construction of a hospital.

The allocation of the $13-billion credit line by South Korea to Iran would open the way for Japanese and European banks to do the same with the country.





Envoy: Iran, Cuba Hold Satisfactory Relations

TEHRAN (FNA)- Cuban Ambassador to Iran Vladimir Andrés González Quesada voiced his satisfaction over the status quo of diplomatic relations between Havana and Tehran.

"Currently the bilateral relations between Cuba and Iran are excellent. The Minister of Foreign Affairs Mohammad Javad Zarif and President Hassan Rouhani paid official visits to Havana in August and September 2016, respectively," Quesada said.

The Cuban envoy reiterated that the two visits together with others carried out by Cuban authorities to Tehran helped to consolidate political and diplomatic relations between the two countries.

"I believe President Rouhani and the next Iranian government should continue their efforts to expand relations with Latin America in all spheres, including Cuba,” Quesada added.

In relevant remarks last Sunday, Iranian Ambassador to Cuba Kambiz Sheikh Hassani called for broadening of mutual cooperation between Tehran and Havana.

"Iran-Cuba relations need to reach their highest level in the political and diplomatic fields," Sheikh Hassani said.

The Iranian ambassador reiterated that Tehran and Havana have always been trying to expand political and economic exchanges over past 37 years.

Sheikh Hassani pointed to Iran's capacities for the expansion of mutual cooperation, and said, "Iran ranks first in the Middle East and seven in the world in nanotechnology."

In relevant remarks in late August, Cuban Trade and Investment Minister Rodrigo Malmierca Diaz in a meeting with Zarif in Havana called for the broadening of trade and economic relations between the two countries.

During the meeting in the Cuban capital, Malmierca Diaz said that his country's private sector is ready to invest in Iran's economic projects.

"Havana is keen to develop relations with Tehran as a lasting partner and friend," he added.

Zarif and Malmierca Diaz discussed ways of development of cooperation between Tehran and Havana in the fields of energy, banking, health, nanotechnology and biotechnology.

"Cuba is ready to help facilitate development of cooperation between Islamic Republic and the Latin American states," Malmierca Diaz said.

Also in August, Iran and Cuba signed a memorandum of understanding (MoU) to boost the level of their economic and trade cooperation.

The cooperation document was signed on the sidelines of the first joint trade meeting of Iran and Cuba.

Iran attaches importance to the expansion of all-out ties with the Latin American countries.





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