Trade With Iran Will Improve Following Interim Nuclear Deal, Says Ambassador

TEHRAN, Jan 20 (Bernama) — Iran’s interim nuclear deal with six major powers, which came into force today, will cut sanctions and bring down the barriers to trade between the country and other countries, including Malaysia, says Malaysian Ambassador to Iran Mohamad Sadik Kethergany.

“Today’s event is indeed very significant as it is being held on the day the interim nuclear deal, entered into between Iran and six major powers on Nov 24, 2013, is implemented,” he said.

The countries are the United States, United Kingdom, France, Germany, Russia and China.

Speaking at the Malaysia-Iran Palm Oil Trade Fair and Seminar (POTS) 2014 here, he said the landmark deal reflected the desires of all parties involved to move forward with negotiations towards a comprehensive agreement.

“I am optimistic this new development will augur well for everyone, paving the way for greater economic and trade ties between Iran and the rest of the world, including Malaysia,” he told participants of the seminar which was earlier opened by Plantation Industries and Commodities Minister Datuk Amar Douglas Uggah Embas.

Iran’s interim nuclear deal consists of a short-term freeze of its nuclear programme in exchange for decreased economic sanctions as the countries work towards a long-term agreement.

Mohamad Sadik said Malaysia and Iran enjoyed excellent and long-lasting relations for more than 30 years.

He said various efforts and initiatives have been taken to translate the close political relation into more substantive bilateral economic relations.

“The bilateral trade between Malaysia and Iran have shown an increasing trend,” he said, adding that in 2011 the bilateral trade stood at US$1.3 billion.

Mohamad Sadik said palm oil promotional efforts such as trade fairs and seminars should be held regularly in various cities in Iran in order to sustain and grow existing markets.

“Iran is a huge market of more than 70 million people,” he said.

Malaysia-Iran POTS 2014 is the 33rd of its series since its introduction in 2006 and is organised by the Malaysian Palm Oil Council and Malaysian Palm Oil Board, with the support of the Iran Vegetable Oil Industry Association.

Source : BERNAMA

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