World  Business and Economic Analysis 

Iran,

  • Investment Licensing Procedure in Iran?Simple and Fast

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    You are interested in to invest in Iran but interested to know  how long it take to get Investment Licensing ?



    procedure

    Documents Required by the OIETAI( Organization for Investment, Economic and Technical Assistance of Iran)

    1. Application Form
    2. Establishment License / Primary agreement / Preliminary agreement of the pertinent Iranian organization
    3. Official letter of the foreign investor to submit to the OIETAl
    4. The foreign investors background including  a brief history  of the company ,the year of  establishment  area of activities in case  of foreign investor is a natural  person , a photocopy of passport  and resume will be provided.
    5. A list of machinery, equipments and CKD part which may be imported into the country as a part of the foreign investors capital (if available).
    6. In case that part of the foreign investor’s share is in the form of technical know –how, a draft of the contract outlining the conditions of the transfer of technology.
    7. Any further useful information.


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  • Investment Opportunities in Iranian Oil and Gas Industry (Up to 2025)

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    Over the last decade, developments in the energy market, especially for hydrocarbons, have contributed to an increased tendency among countries about the future access to reasonably priced energy.
    As a result, energy security is uppermost in the minds of the general public as well as policymakers. Therefore, investing in future energy sources to meet the growing demand for energy is considered as a main inclination of most countries.
    The current high-commodity price environment has made energy investment look attractive. Expenditures in energy infrastructures` investment of nearly 22 trillion US$, through 2030 will be required. (Table 1)


    . (Table 1)

     
       

     

     

     

    Total

    Power

    Gas

    Oil

    Coal

     

    8,082

    4,661

    1,774

    1,377

    146

    OECD

    4,669

    2,246

    1,291

    1,023

    78

      North America

    2,417

    1,728

    315

    247

    35

      Europe

    997

    687

    168

    107

    33

      Pacific

    2,148

    681

    657

    769

    40

    Transition economies

    1,379

    292

    492

    568

    27

      Russian Federation

    11,338

    6,220

    1,716

    2,968

    369

    Developing countries

    3,740

    2,764

    168

    547

    251

    Developing Asia

    1,911

    406

    430

    1,074

    0

    Middle East

    1,461

    484

    460

    494

    19

    Africa

    1,536

    762

    292

    432

    10

    Latin America

    369

    0

    82

    246

    41

    International transport

    21,936

    11,562

    4,229

    5,360

    597

    World

     




    In accordance with Iranian Oil industry Vision (2025), the required investment in various sectors of Oil industry has been estimated about 501.52 billion dollar, (yearly investment of 25 billion dollar)(Table 2) in which 231.68 billion dollar will be in upstream and 269.84 billion dollar would be allocated to downstream of oil, gas and petrochemical sectors.
    In Oil upstream, the required investment has been estimated about 93.930 billion dollar where 49.780 billion dollar  would be generated from foreign sources.
    In Gas upstream, 137.75 billion dollar investment is needed where 106.740 billion dollar is predicted to be allocated from foreign resources.


       


    On the other hand, up to 2025, the required investment for oil refining section (construction of new refineries and protection of current refineries and facilities capacity) would be 44.251 billion dollar (15.711 billion dollar foreign investment). In addition, 25.290 billion dollar investment is the estimated amount for refining of gas sector where 17.703 billion dollar will be provided from foreign sources.
    Oil and gas pipelines, require 22.29 and 55.890 billion dollar investment respectively, in which about 39.123 billion dollar would be from foreign resources.
    In order to achieve the planned objectives of oil industry sectors during the fifth development plan,  about 191 billion dollar investment is estimated where 81 percent - 155 billion dollar – would be enforced in upstream sector to develop oil and gas fields as well as sustain operation capacity. Furthermore, about 56 percent of upstream plan is organized for development and furtherance of production capacity in gas fields.
    The planned investment for refinery section is 12.6 billion dollar that would attain the construction of crude oil and condensate new refineries inside/outside of territory, improvement and optimization of oil products quality in existing refineries and development of pipelines and storage tanks as well.
    Finally the investment plan for natural gas downstream is 23 billion dollar that will enhance the natural gas refinery capacity and gas pipelines network throughout the country.
    Table 3 illustrates the details of investment opportunities, in different sectors of oil industry, through the fifth development plan.



  • Iran capable of conducting aluminum projects outside country

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    Iran is capable of conducting aluminum projects outside the country, Managing Director of Iran Aluminum Company (IRALCO) Majid Pour Attar said.


    Talking in a gathering of Aluminum industry owners here , He pointed to five decades of aluminum industries in Iran especially producing aluminum bars and said the country certainly has the capacity to build these kinds of factories abroad.

    He said the registration process of an international technical and engineering company is underway.

    He noted that Iran is the first and top producer of aluminum in the Middle East, adding IRALCO is a member of London Metals Exchange.

    The official had earlier said that IRALCO is working with China’s NFC in an aluminum project in Kazakhstan which meant export of technical and engineering services.

  • Iran Petchem Sector Up & Running in Post Sanctions Setting

     
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    Managing director of National Petrochemical Company (NPC) said Iran's petrochemical industry is at a good state and production of petrochemical products is going on as planned.
    Speaking to Shana, Marziyeh Shahdaei, who is also deputy petroleum minister in petrochemical affairs, said the store houses are no longer filled with produced items, and petrochemical plants are productive unless they are being repaired.

    She said this calendar year, which began on March 20, will be a good year for the industry given the fact that 10 new petrochemical projects will come online during the year.
    Shahdaei said two or three petrochemical plants like Shiraz urea and ammonia plant are ready to become operational in Asslouyeh.

    "Pardis Petrochemical Plant will come on-stream in the near future as Kurdistan Petrochemical Plant will become operational by late September," she added.

  • Iran signs contract to purchase 2nd flight checker



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    Iran Airports & Air Navigation Company (IAC) signed a contract with the Austrian Aerodata AG for purchasing the second flight checker model King air 350i, World Business Year quoted from Iranian local Media .
    The contract is worth €11 million, the Managing Director of IAC Rahmatollah Mahabadi said.

    Purchasing the plane directly from its manufacturer, Beechcraft, required the permission of the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury, he added.

    King air 350i plane is manufactured by Beechcraft Corporation, which is an American manufacturer of general aviation and military aircrafts, ranging from light single- engined aircrafts to twin-engined turboprop transports, and military trainers.

  • Iran welcomes establishment of representative offices and bank branches


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     To strengthen Iran and Luxembourg relations, both nations need banking ties which can be realized through opening of representative offices and bank branches in both countries. In this way, the banking ties will expand gradually.

    In a meeting with Deputy Prime Minister and Minister of Economy of Luxembourg, the CBI governor Dr. Seif welcomed the idea of opening bank branches and agencies in Iran and expressed Iranian banks’ willingness to  establish branches and representations in Luxembourg and said: “Banking relations will develop concurrent with the establishment of correspondent relations. Iran and Luxembourg economies are complementary to each other. Since Luxembourg is seeking new consumer markets and investment opportunities, and Iran needs to attract foreign investors, it is necessary for both sides to take advantage of the economic potential.

  • Iran-Europe HGV Services Launched

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    The first heavy goods vehicle groupage transport services from Europe to Iran are now being operated by DB Schenker—a division of German railroad company Deutsche Bahn AG that focuses on logistics.
    According to a report in Switzerland-based International Transport Journal, the goods are consolidated in Austria and hauled via the Balkan states and Turkey to the Iranian border.
    The first trucks left Salzburg, Austria, and have already arrived in Tehran after a 10-day trip. The cargo that the HGVs conveyed included around 22 tons of infrastructure material for the construction of a steel plant in Iran.
    DB Schenker has also resumed air and sea freight services to Iran. The company is now preparing rail freight offers and wants to establish its own national affiliate in Iran.

  • Iran, Italy Ink 6 Agreements to Develop Ties

     

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     High-ranking officials from the private and public sectors of Iran and Italy signed 6 memorandums of understanding (MoUs) to boost cooperation in various economic, political and cultural fields.

    The documents were signed in a ceremony in Tehran on Tuesday with Iranian President Hassan Rouhani and Italian Prime Minister Matteo Renzi in attendance.

    The agreements cover a wide variety of fields ranging from cultural activities, tourism, and renewable energy resources and automotive industry to road and rail transport.

    An MoU was also signed between the National Iranian Gas Export Company (NIGEC) and Eni, Italy’s largest oil and gas company to boost cooperation.

    Heading a 250-strong business delegation, Renzi arrived in Tehran earlier on Tuesday to discuss ways to improve mutual economic cooperation between Tehran and Rome.

    The agreements come against the backdrop of a new wave of interest in ties with Iran after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) reached a nuclear agreement on July 14, 2015 and started implementing it on January 16.

    The comprehensive nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), terminated all nuclear-related sanctions imposed on Iran.

  • Iran, Norway Planning Joint FLNG Project

     

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    Iran is working on a plan with a Norwegian company to build a floating facility to liquefy natural gas in the Persian Gulf, an Iranian official said.

    Ali Kardor, the vice president for finance and investment affairs of the National Iranian Oil Company (NIOC), was quoted by the media as saying that the project – technically referred to as FLNG – will be used to support Iran’s exports of liquefied natural gas (LNG) to Europe and the Far East.

    Kardor added that the Norwegian company – which he did not name – will send a ship that will specialize for the same type of project to Iran’s ports in the Persian Gulf by March 2017, Press TV reported.

    Iran previously pursued three key LNG projects – Iran LNG, Pars LNG and Persian LNG. However, they were abandoned over the past few years as technicalities emerged – mostly those pertaining to US-led sanctions against investments in Iran’s energy projects.

    NIOC chief Rokneddin Javadi said last October that LNG has returned to Iran’s energy agenda, stressing that the country has devised serious plans to launch its first liquefaction project by April 2018.

    The country is already working on a plan to pipe natural gas to Oman and use the liquefaction facilities of the Persian Gulf sultanate to export LNG to overseas markets.

    Based on an early agreement that Iran signed with Oman in 2013, Iran will pipe a daily of 28 million cubic meters (mcm) of gas to Oman through a sub-sea pipeline. Some of the gas thus transferred will be turned into LNG in the country’s Qalhat LNG plant for Iran to use as per its export plans.

  • Iran, Russia sign banking cooperation document

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    Iran and Russia on Thursday signed a memorandum of understanding to boost bilateral banking and financial cooperation.


    The Vice Governor of Central Bank of Iran (CBI) Gholamali Kamyab and Vice Governor of Central Bank of Russian Federation Dmitry Skoblekin signed the cooperation document on the sidelines of a meeting between Iran-Russia banking and financial taskforce held in Tehran.

    Based on the cooperation document, the two sides have agreed to fight money laundering and financial support of terrorism.

    The memorandum of understanding will also facilitate execution of the Bilateral Currency Swap agreements reached between the two countries

  • Iran's Bank Mellat Promotes Armenia Subsidiary, Eying Georgia Branch

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    Yerevan-based Mellat Bank CJSC, fully owned by Iran’s Bank Mellat, has increased its authorized capital in compliance with the new requirement of the central Bank of Armenia, Mohammad Bigdeli, chairman of Mellat Bank CJSC’s board, told a press conference.

    The authorized capital was built up to 32.1 billion drams (about $67 million) in September and its normative capital now amounts to 31 billion drams (about $65 million), ArmBank.am reported.

    To enhance effectiveness, firmness and stability of banks the Central Bank of Armenia announced a new requirement for banks – their capital must amount to no less than AMD 30 billion ($63 million) from January 1, 2017 instead of the present AMD 5 billion ($10.5 million).

    Iran's Mellat Bank opened a subsidiary in Armenia in 1996 in accordance with the agreement signed with the Central Bank of Armenia. Initially the bank operated as Iranian Mellat Bank’s branch, but in September 1997 it was reorganized into a subsidiary with CJSC status.

    Bigdeli  said that after the sanctions were lifted the bank decided to open branches in other countries to provide higher quality services to clients and tourists.

    New Yerevan Hqs.

    Mellat Bank opened its new office in Yerevan last week.

    Deputy general manager of Mellat Bank Armenia, Gholamreza Mousavi, speaking at the opening ceremony, said that the office is in downtown Yerevan and expressed the hope that its modern design and comfort would help cater to clients’ needs.

    He also expressed the hope that the bank could open more offices in Armenia.

    He said that Mellat Bank is offering services to many clients from Iran and other countries, and this shows that tourism and economic activity in Armenia is growing.

    Deputy Chairman of Armenia's central bank Vakhtang Abrahamyan, who was also speaking at the inaugural, said Mellat Bank has a high status in Armenia’s banking sector, providing high-quality services in line with mutual cooperation.

    “We are happy to say that Mellat Bank meets all the requirements of the central bank, and this is a basis for its long-term activity,” he said.

    Iranian ambassador to the Caucasus nation, Kazem Sajad, said that the Iranian side has met with Armenia's Central Bank Chairman Arthur Javadyan, representatives of the finance ministry and the state revenue committee "to develop cooperation in banking and insurance sectors."

    He said that the number of Mellat's branches in Armenia is expected to increase and that the bank will strive to further improve its services.

    Planning Tbilisi Branch

    The bank is reportedly also considering opening a branch in Georgia, Bigdeli was quoted as saying.

    The Tbilisi branch will operate under the management of the Yerevan branch.

    Bigdeli said that the matter is under preliminary consideration. “If it is decided that opening this branch is viable, we will open it,” he said.

  • Iran's crude exports exceed 2m bpd:official

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    Director of the International Affairs Department of the National Iranian Oil Company Mohsen Ghamsari said  that Iran's crude exports exceeded two million bpd.


    Ghamsari added  that thank God Almighty Iran has since implementation of the Joint Comprehensive Plan of Action(JCOPA) has been able to take up about 900,000 bpd it was lagging behind the export share due to the oil sanctions.
    He said Iran has been able to raise its production to more than 3.8 million barrels per day in less than four months since the JCPOA was implemented and the sanctions were lifted.

  • Iran’s gas condensate output up 20% in 11 months

     

     

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     The production of gas condensate in Iran rose 20 percent in the first eleven months of the current Iranian calendar year (March 21, 2015-February 19, 2016), compared to the same period of time in the past year, said Abdulhossein Samari, the operations manager of the National Iranian Gas Company (NIGC).



    The production of Gas condensate, a light form of crude oil produced in association with natural gas, reached around 234 million barrels in the 11-month period, the Islamic Republic of Iran Broadcasting (IRIB) reported on Saturday.



    During the mentioned time, Samari said, the output of sulfur also jumped seven percent in comparison with the last year’s figure which stood at 917,000 tons.b_200_200_16777215_00_images_invest2.jpg



    According to him, Iran produced over 21.251 million barrels of liquefied petroleum gas (LPG) during the period, showing a 35 percent growth relative to the last year’s record.



    In the 11-month time span, the official added, the gas refining capacity surged seven percent to 162.5 billion cubic meters.



    Iran aims to nearly double gas production to reach one billion cubic meters per day in less than two and a half years.   



    With its 34 trillion cubic meters of natural gas, Iran has the biggest gas reserves in the world.   



    The country intends to enhance gas production by increasing foreign and domestic investment, especially in its South Pars gas field.      

  • IRANFINEX 2016 Tehran ,Iran

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     the 9th International Exhibition of Exchange, Bank & Insurance, “IRANFINEX" 2016
     Date:     11-14 july  2016
     Venue:     Tehran International Fairground/Tehran/Iran


    An Introduction to theFinance Industry and Investment Exhibition


    The International Exhibition of Exchange, Bank & Insurance (Finance Industry and Investment Exhibition, “FINEX”) is the largest finance industry fair in the Middle East and one of the biggest of its kind in the world. This event is held In «Iran», the country of dynamic economy, where the east meets the west by a modern connection network.

    About the Last Exhibition

    The Seventh International Finance Industry and Investment Exhibition (FINEX) was held in Tehran - Iran from the 7th to the 10th of May, 2013.297 domestic and foreign companies active in the capital market, the money market and the insurance sector took part in the event. Also, attending the opening ceremony were ambassadors, high- ranking officials and financial directors and experts from a host of countries including Afghanistan, Belarus, Canada, Georgia, Indonesia, Iraq, Pakistan, South Korea and United Arab Emirates.



     

    Why the FINEX

    Finance Industry and Investment ExhibitionThe International Exhibition of Exchange, Bank & Insurance (Finance Industry and Investment Exhibition, “FINEX”) is where the almost all players of these sectors come together to share their latest services and advantages. This is the unique opportunity to visit and know about Iran Financial Industry in all of Banking, Insurance and Investment. As the signals showed up to puting away the Iran's sanctions during last months, the world welcomed Iran as an important and high potential economic player. This is the closest event that you can encounter to see the amazing Iran financial market by participating or visiting the FINEX 2014.

    Worldbusinessyear.com international  plays an influential role in keeping World business leaders and
    decision makers informed of global investment opportunities in Iran and Middle East  through  portray real image of countries ,business opportunities  which are not featured in the day-to-day press.

     

  • Iranian trade officials to regulate trade relations with European states

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    Iranian trade officials are scheduled to mull trade relations with the European states in the course of their visit to Europe.
    Iranian economic and trade delegation embarked on their tour to four North European countries accompanying Foreign Minister Mohammad Javad Zarif on Sunday.
    Poland, Finland, Sweden and Latvia are the destinations for the Iranian trade delegation.

    Head of Iran Chamber of Commerce, Industry, Mine and Agriculture Mohsen Jalalpour is among the group of 60 economic activists.

    Trade with Poland stood about 400 million dollars last year, but, the capacity for cooperation is much higher than the figure and the two governments have decided to give a major boost to trade and economic cooperation.

    In addition to negotiations, the Iranian delegation will attend Iranian Economic Forum with the four European states.

  • Iranians to use Asian credit cards soon



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    The Central Bank of Iran (CBI) says Asian credit cards provided by the Japanese and Chinese banks will be available to the Iranians before September.

    Iran says it is preparing the grounds for its nation to use credit cards provided by Asian banks until the restrictions for using American payment operators like Visa and MasterCard are removed.

    The country’s media have quoted an official with the Central Bank of Iran (CBI) as saying that negotiations to the same effect are currently underway with Japan Credit Bureau (JBC) as well as China UnionPay (CUP).

    Davood Mohammad-Beigi, the CBI director for payment affairs, has told been quoted as saying that JCB and CUP cards will be available to the Iranians before September.

    Mohammad-Beigi has further emphasized that the CBI is determined to bring the global credit card payment systems into the country, stressing that the related technical talks on the same front have been going on with international suppliers for the past five months.

    The official added that certain steps have also been planned to prepare the infrastructure required for using international credit cards in Iran, including connecting the domestic banking payment transfer systems to overseas payment networks like the ones that Visa and MasterCard are using.     

    Mohammad-Beigi said the conditions for using Visa and MasterCard services are not prepared yet. This, he added, is because both are US enterprises and are still subject to the sanctions that the US government has put in place in dealing with Iran.

    The legal department of the CBI is nonetheless preparing to take actions to remove the obstacles that are hindering Visa and MasterCard from operating in Iran in light of the openings that have been created after the January removal of anti-Iran sanctions, Mohammad-Beigi emphasized.

  • Irish Firms to Invest in Iran’s ICT Sector

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    Representatives from a number of Irish companies keen to invest in Iran’s information and communications technology (ICT) market will visit the country to pick Iranian firms for cooperation, an official said.

    According to Nasser Ali Sa’adat, the Irish delegation is going to visit Iran in May in the pursuit of investment opportunities in the ICT market.

    The Iranian official also noted that negotiations are underway with companies from the other countries, such as Bulgaria, Canada, France and Italy, in order to match foreign investors with appropriate domestic partners.

    There has been growing enthusiasm for trade with Iran after implementation of the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear deal between Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

    The deal came into force on January 16, terminating all nuclear-related sanctions on Iran.

    Back in December 2015, Sweden’s Minister for Enterprise and Innovation Mikael Damberg had also voiced the European country’s eagerness to boost investment in Iran’s ICT market.

  • Japan's high-ranking trade delegation to visit Iran

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    Japanese ambassador to Iran said Mon. his country is preparing to send a high-ranking trade delegation to Tehran and resume high level of economic relations with the Islamic Republic.

    Hiroyasu Kobayashi, Japan’s Ambassador to Iran, in a meeting with Governor of Eastern Azerbaijan Esmaeil Jabbarzadeh on Monday, said various MoUs have been signed between Tehran and Tokyo in the past eight months and all major Japanese companies in Tehran have increased their staff two to three times.

    “The signing of an investment MoU and the opening of a $10 billion credit line are very promising for the implementation of big project in this country,” he said.

    Iran-Japan’s first economic MoU was signed in February in the presence of Iranian economy minister and Japanese Foreign Minister Fumio Kishida. During the meeting, the two sides also reached an agreement to open a $10 billion credit line for financing the country’s projects and developing foreign investment capacities.  

    The Japanese envoy added that Japan is also participating in environmental projects and the revival of Lake Urmia; “This is the third consecutive year that Japan has contributed $1 million to the UN for the revival of Lake Urmia, and various projects in social and economic fields have been executed in this regard,” he said.

    “Holding conferences is the best step toward expanding cooperation and we are ready to cooperate with East Azerbaijan in various areas, particularly in agriculture, environment and tourism,” he said.

  • KITA official: We can equip Iran with technology

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    by : Mohammad Ali Saki

    TEHRAN - Iran-Korea Business Forum was held in Tehran on February 29, wherein as many as 500 Korean and Iranian participants from 300 companies were present.

    One of the main organizers of the event was Korea International Trade Association (KITA), whose Executive Vice President Chairman Junggwan KIM delivered the opening speech.



    According to the association’s website, KITA serves a diverse range of roles, including providing hands-on support to trade companies, drawing trade cooperation from the private sector, formulating new trade strategies, nurturing trade professionals, and building trade infrastructure.



    In a short exclusive interview with the Tehran Times, Junggwan KIM has answered three questions. Here is the text of the interview.



    TT: One of the main challenges the Iranian economy faces is to join the Word Trade Organization (WTO). How can KITA smooth the path given that Iranian companies need modern technology to compete with global rivals if the country joins the WTO?



    A: Joining the WTO has its own regulations and conditions. But I think we can equip Iran with technology and then, this is up to the Iranian partners to build upon the technology, promote it and re-apply it in their own products or develop it.



    TT: Given that Korean companies left Iran during the sanctions era, now they are a bit doubtful about partnership with Koreans. For this reason Iran is now looking for long-term contracts. What do you think about it?



    A: We had no other choice but to leave Iran’s market, as Korean companies themselves have bilateral relations with their American counterparts and if we violate the game, the U.S. imposes sanctions against us. So, that was our reservation. However, we are now pursuing long-term cooperation with Iran because we have a common goal.



    TT: Have you developed your own development model or does it come from other countries’ schemes?

    A: At early stages, Korea gained experience by learning from foreign countries, similar to what Iran is doing now. At later stages, advanced educational system in Korea and the determination of Korean people helped develop our domestic model of economy.

  • Lithuania to cooperate with Iran on telecom

     

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    Lithuanian Foreign Minister Linas Linkevicius in a meeting with Minister of Communications and Information Technology Mahmoud Vaezi on  said that Lithuania is interested in cooperation with Iran on telecommunications.


    In the meeting, Vaezi said that Iran is ready to have reciprocal cooperation with Lithuania in different sections of telecommunications, information technology, software, electronic government, post, e-commerce and telecom networks.
    He called for seeting up Joint Commission of the Communications by the respective ministries of Iran and Lithuania to follow up procedures for partnership.
    Vaezi said that he was pleased with Lithuania taking the 16th rank in the sector of telecommunications and information technology and that Lithuania has achieved noticeable progress in the field.
    Lithuania is a member of European Union.
    Linas Linkevicius met with President Hassan Rouhani and Foreign Minister Mohammad Javad Zarif .
    Lithuania located northeast of Europe and is neighboring Latvia from north, Belarus from east and southeast, Poland from south and Russia from southwest and to the Baltic Sea from west.
    Lithuania exports mineral products, mechanical, electrical and chemical equipment, textile, food products, wood and furniture industries.

کتاب عملیات بانکی در عرصه بین الملل -سرفصل ها،ضمائم ،توصیه صاحب‏نظران ارزی و مدیران ارشد بانکی

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