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Iran, Italy to broaden economic, industrial cooperation

Minister of Industries and Mines Es'haq Jahangiri is scheduled to arrive in Rome on Tuesday to attend the 6th meeting of Iran-Italy Economic Commission, IRNA reported from Rome.

The upcoming meeting of the Iran-Italy Joint Commission due to be held on Thursday mainly aims at signing a memorandum of understanding on industrial and economic issues.

Jahangiri and Italian Minister of Productive Activities Antonio Marzano will discuss joint cooperation in the field of small and medium-sized industries, commissioning the fourth phase of Al-Mahdi Aluminum Company and reaching agreement on vehicle production.

The visiting Iranian delegation is also due to meet with Italian officials, inspect Fata Aluminum Production Complex and a number of Italian small and medium-sized industries.

A glimpse at the diversity of economic exchanges between the two states reveals the significance of the results of the upcoming 6th meeting of Iran-Italy Joint Economic Commission and the itinerary of the visit.

Italy exported goods worth over 1.171 billion euros to Iran in 2001, while the value of the Iranian products imported to Italy in the same year stood at 2.359 billion euros which comprised 26 percent of the entire economic exchanges between Iran and 15 EU member states.

The value of Italian goods exported to Iran in 2002 amounted to 1.796 billion euros which made it Iran's major trade partner, while Iran exported 1.879 billion euros worth of products to Italy.

Iran mainly exports oil products to Italy, while Italian goods exported to Iran consist of industrial equipment.

Several hundred thousands of small and medium-sized industrial workshops scattered all across Italy account for its being known as the most advanced world administrator of the related industrial sector.

Given Iran's demand for Italy's industrial expertise, specially in the field of small and medium-sized industries which require low expenses and provide desirable interests compared to major industries, a new round of new bilateral economic cooperation is to be launched between the two states.

The workshops where various industrial parts are produced are complementary to one another and constitute the biggest section of Italy's industry.

They are mainly aimed at job creation, constant supervision over production, innovation and optimization of quality.

Italy has already taken measures towards renovation and optimization of Iran's textile industry, specially in Yazd province. It can further launch joint cooperation in other industries such as building and decorative stones, precious metals and jewel.

Italy's expertise can also be used in production of goods in accordance with EU standards to make them competitive on the world markets.

Spanish economy minister due in Iran

Spanish Minister of Economy Rodrigo Rato is to pay an official visit to Iran soon, said spokesman for Spanish Ministry of Economy Manuel Lagares said in Madrid on Monday, IRNA reported.

Lagares told IRNA in Madrid that Rato, heading a delegation, will arrive in Tehran on a three-day visit for talks with his Iranian counterpart Tahmasb Mazaheri and several other high-ranking officials.

Rato would be most likely successor to Spanish Prime Minister Jose Maria Asnar in the country's future elections.

A group of 25 officials and representatives of several oil, petrochemical, engineering, food industries, railway and banking companies of Spain are to accompany Rato in the visit.

Representatives of Repsol, Dragados, Tecnicas Reunidas and Sabadel are to be in Iran as members of Rato's entourage.

Iran-Canada trade exchanges at dlrs 250m in 2002

Tehran, July 14, IRNA -- Iran and Canada exchanged dlrs 250 million worth of goods in 2002.

The secretary for commercial affairs and deputy for consular affairs in the Canadian Embassy here, Ali Mir, told IRNA Monday that about dlrs 190 million of the above-stated figure came from Canadian exports of wheat, oil, gas and industrial equipment to Iran while the rest came from imports of carpets, dried fruits and handicrafts from Iran.

Pointing out that Iranians tend to invest mainly in real estate in Canada, he said Canadians, on the other hand, were investing mostly in the energy and agriculture sector in Iran.

He said laws and regulations governing both local and foreign investment play an important role in economic development for any country, and expressed regret that Iranian mining laws and regulations are not as attractive to Canadian investors as those of other countries.

He pointed out that a number of Canadian firms are currently active in drilling operations in Iran's offshore South Pars gas projects, but as sub-contractors.

... Payvand News - 7/14/03 ... --

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