"Grounds are prepared now for the Singaporean firms’ economic activities in Iran, including investment in the energy sector," Sarmadi said in a meeting with visiting Singaporean Senior Minister of State, Ministry of Defense and Ministry of Foreign Affairs Mohamad Maliki Bin Osman in Tehran on Monday night.
The Iranian deputy foreign minister pointed to the positive impacts of the Joint Comprehensive Plan of Action (JCPOA), and said that the nuclear agreement signed between Iran and the six world powers (the US, Russia, China, France, Britain and Germany) in July 2015 has prepared the ground for cooperation between Iran and Singapore in all fields, specially trade and economy.
The JCPOA was signed between Iran and the six world powers and was officially implemented in January 2016.
Sarmadi said that after the nuclear deal came into force, foreign companies from various countries voiced their readiness to invest in Iran.
Osman, for his part, pointed to Iran’s long history of civilization and voiced his country’s readiness to further broaden bilateral ties with Iran.
He also wished that Singaporean firms would soon be able to invest in Iran.
In a relevant development in mid-October 2016, Governor of Southern province of Hormuzgan said Iran and Singapore can ramp up their trade ties, saying the two countries can boost their ties in the wake of the implementation of the JCPOA.
Jasim Jadori said the province enjoys massive inshore and offshore potentialities which make investment in it pretty profitable.
He said the two countries are eager to boost their trade and the province can play a major role in this regard.
Speaking in a meeting with Singaporean ambassador to Tehran, Jadori added that Iran and Singapore can have favorable trade ties, adding Singaporean investors can finance development projects in the province.