News ID: 202982
Published: 0400 GMT October 23, 2017

Iran, South Africa FMs agree to boost political, economic ties

Iran, South Africa FMs agree to boost political, economic ties

Iranian Foreign Minister Mohammad Javad Zarif and his South African counterpart Maite Nkoana-Mashabane stressed the need for development of political and economic relations during a meeting in Pretoria on Monday.

Zarif arrived in Pretoria Sunday afternoon to attend the 13th meeting of joint commission and Iran-South Africa Business Forum, IRNA reported.

The top Iranian diplomat is also expected to meet with other high-ranking South African officials.

 

Non-oil exports

 

Based on Iran-South Africa trade ties roadmap, Iran is scheduled to increase non-oil exports to South Africa to $2 billion by 2020, Iranian commercial attaché to South Africa said.

On Monday, Mehrdad Siadat-Nassab made the remarks on the sidelines of the joint commission meeting.

The trade exchange volume between two countries is now about $400 million, he said.

Siadat-Nassab hoped the commission would bring solution for banking ties and increase trade ties between Iran and South Africa.

According to figures presented by Iran Trade Promotion Organization, in the first months of 2016, Iran's exports to South Africa increased by 70 to stand at $14,300,000.

Siadat-Nassab added that about 50 enterprises in infrastructure, agriculture, oil and gas, banking and financial fields and over 100 South African companies participated in the event.

 

   
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