Tehran, Dec 10, IRNA -- First Vice President Mohammad Reza Aref said here Tuesday that Iran should not be indifferent in joining the World Trade Organization (WTO).

"We should decide on the issue by being cognizant of our interests and the need to forge relations with other nations," he said.

Speaking at the first Iran Plastic and Rubber Exhibition (IranPlast-2002), he said the globalization trend should be viewed as an opportunity and not a threat. "We should use it our advantage."

He said that the effect of WTO policies are so wide-reaching and deep-rooted that 'its effect on other countries are unavoidable'.

Aref also added that Iran's rich cultural history, young population, adequate availability of professionals and experts, geographical situation and ample natural resources are all factors which could be used to its advantage.

The vice president also stressed the priority of the country in investments in the domestic petrochemicals sector with the aim of boosting competitiveness in the international markets.

He said Iran possesses 14 percent and 48 percent of oil and gas reserves of the Middle East, respectively, and 10 percent of the world oil and 18 percent its gas reserves.

With implementation of the expansion of projects, oil production capacity will top 4.5 million barrels daily and its capacity for production of condensate will reach three million tons in 2005-2006.

He said with the completion of the expansion projects and production of higher valued goods, notably, polymers, the petrochemical capacity by the end of the Third Five-Year Development Plan (March 2000-March 005) will be significantly increased.

"Iran's current share in production of petrochemicals is 13 percent in the Middle East, topping to 31 percent in the period," Aref reckoned adding the per capita polymer consumption is 13 kg in Iran compared to 33 kg in the world.

He also stressed the need for participation of private domestic and foreign investors in the petrochemical sector.

The government will do all it can to remove hurdles and provide facilities for promotion and security of investments in the country Aref underlined.

He also said that the investments in petrochemical development contacts as exceeding US dlrs 21 billion.

Iran's accession to WTO has been a topic of focus in various seminars and discussions.

On Sunday Deputy Minister of Industry and Mines for Economic and International Affairs Mohammad Navab that Iran should move in line with the rest of the world either with or without membership in the World Trade Organization

Speaking at a 'Training Workshop on WTO and Domestic Auto-Parts Industry' he said, "We should use advantages associated with joining international organizations such as WTO."

He said that the fundamental principals of WTO including internationalism, rejection of discrimination and transparency are to the benefits of the member countries.

Meanwhile, the first international rubber and plastic exhibition was inaugurated here Tuesday with Iranian Aref as the special guest of honor.

After the inaugural, which was also attended by Iranian Oil Minister Bijan Namdar Zanganeh and Deputy Oil Minister and Managing Director of the National Petrochemical Company (NPC) Mohammad Reza Nematzadeh, Aref inspected various pavilions participating in the exhibition including domestic and foreign stands.

Some 70 companies from 18 different countries are participating with a display of their products. Some 232 Iranian companies are participating.

The foreign countries represented are Germany, Italy, England, France, Austria, Belgium, Canada, South Africa, Saudi Arabia, United Arab Emirates (UAE), Turkey, South Korea, Switzerland, Taiwan, Greece, Malaysia, China and Qatar.

The exhibition is to award plaques of distinction to selected stands as one of its programs.

EU welcomes go-ahead for Armenia's accession to WTO

"Accession to the WTO will now help Armenia reap the benefits of the world trade system," EU Trade Commissioner Pascal Lamy said in a press statement in Brussels.

"This accession is a clear sign that another country has chosen the path of trade and development to satisfy the demands of its citizens.

"We hope that this will be an encouraging example for all other countries that are currently at the beginning of the WTO accession process. The EU is ready to support them as much as possible," he added.

Armenia applied to join the WTO in 1993. The accession negotiations started in 1996. Yerevan now needs to ratify the accession package no later than 10 May, 2003.

Thirty days after the deposit of the ratification instruments in Geneva, it will become the new member of the WTO.

... Payvand News - 12/11/02 ... --