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Iran-New Zealand economic conference held in Tehran

Category: News

New Zealand’s Trade Minister Todd McClay attended a conference over economic relations between Iran and New Zealand, which was held in Tehran on Saturday.

 

 

Pedram Soltani, the deputy president of Iran's Chamber of Commerce said the visit by New Zealand's trade minister at the head of an economic delegation signals the determination of Wellington's officials and commercial partners to develop economic relations with Iran.

Ahead of his trip to Tehran, McClay said “There is enormous opportunity for Iran and New Zealand to work together to boost two-way trade”.

Leading a high-ranking delegation in his visit to Tehran, he is to revive trade between the two countries after a hiatus of over a decade.

“Iran has traditionally been a very important market for our sheep meat and butter. However, exports have diminished over a number of years. Since the lifting of UN sanctions, there are now renewed opportunities to reestablish this trade as well as new opportunities in the education, construction, food and beverage, energy, forestry, specialized manufacturing and services sectors,” the McClay said.

Representatives from 18 companies, universities and educational institutions are accompanying McClay during his visit to Tehran.

 

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French company forms two joint ventures in Iran

Category: News

Faurecia SA, a France-based automotive equipment supplier, has set up two new joint ventures in Iran in an attempt to strengthen its industrial presence in the Islamic Republic following a lasting nuclear deal between Tehran and world powers.

 

Emissions control systems will be developed and produced for the Iranian market under a 50-50 joint venture between Maadiran — a leading industrial automation and control engineering company — and Faurecia, Reuters reported on Friday.

Total sales of the first venture are expected to reach €50 million in 2020, the report added.

The second venture has been formed between Azin Khodro — a major Iranian automotive parts manufacturer — and Faurecia for vehicle interior systems. Its total sales is expected to reach €50 million in 2020.

Iran's automotive industry is the second largest in the country after its oil and gas industry, accounting for 10 percent of the country's GDP.

Experts believe that Iran's economic growth is rising following the removal of anti-Tehran sanctions.

The sanctions were removed after Tehran and the P5+1 (Russia, China, the US, Britain, France and Germany) finalized the lasting nuclear deal on July 14, 2015 which went into the implementation mode on January 16, 2016.

 

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