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September 15, 2009 · Iran, A Potential for Gold Export Hub Tehran Jewelry, Gold, Silver and Coins Association chairman says Iran has the potential to turn into a regional hub for the export of gold. · Business Monitor: Iran Foreign Reserves to Reach US 3 billion The Business Monitor in its latest report predicts Iran foreign reserves to reach around US$ 3 billion by March 21, 2010. · Guardian on Iran Tourism The Guardian has recently reported on the flock of tourism to the Middle East region and particularly on Iran. Highlighting the historical and natural beauties of Iran, the paper commends Iranians for their hospitality. · Iraq, Iran's First Trade Partner In the first four months of the current Persian Calendar year, Iraq has replaced UAE, as Iran's first trade partner, the newly induced Minister of Trade said. · 45 Gas and Oil Fields Operational Iran National Oil Company announced on its online platform that by the end of 5-year development plan, 29 gas fields and 16 oil fields will become operational. · Production of Cement Up 10% The Ministry of Industries announced the production of cement in the country has risen 10 percent to 21 million and 613 thousand tons as of March to August 2009. · 2nd International Conference on Interior Design and Furniture Iran is hosting the second international conference on interior design and furniture on September 28 -29, 2009. The participants from quite a number of foreign furniture associations are to participate in this two-day event. · Iran on Lower Investment Risk List Business Monitor has lowered in its latest report Iran's ranking on its risk-prone investment zones list. · 4 Foreign Banks Opening Confirmed The head of Iran Foreign Investment Organization said four foreign banks are to open branches in the country with the initial capital of US$ 300 to 400 million. · India Keen on Joining ECO Train Project Pakistan Railways has received a request by New Delhi seeking the approval for joining the ECO railway project. The project would connect India to Europe via Iran. · Iran-US Trade Reaches US$ 189 million US Statistics Bureau says US exports to Iran has increased 51 percent in the first 7 months of 2009. The year-on-year volume of trade between the two countries has increased 13 percent to the tune of US$ 189 million. · Foreign Deposits @ US$ 39.8 billion International Clearing Bank puts Iran's foreign banks' deposits as at US$ 39.8 billion for the first quarter of 2009. · Oil Revenue @ US$ 32 billion in 8 months In its latest report US Energy Information Administration has put oil revenues for OPEC and Iran in the first 8 months of 2009 as at US$ 340 billion and US$ 32 billion respectively.
September 09, 2009 · Saffron Production Up Khorasan Province Saffron Exporters Association forecasts this year's production of saffron would reach 150 to 200 tons by March 2010. For his part the National Saffron Council member said Iran's export of the product to Japan has increased 500 percent. · Iran to Promote Investment Projects in Chinese Expo Iran is to attend 13th International Expo on Trade and Investment in China to promote the country's investment projects. 30 countries are expected to attend the event. · Foreigners Welcome Oil Industry IPOs BCC reported positively on the decision made by the Iranian Government on issuing bonds to fund development of Iran's oil industry. · Malaysian Governor of Central Bank Keen on Islamic Banking Expansion In an interview with Iran's Islamic Republic News Agency, Governor of Malaysia's Central Bank said her country is keen on expanding Islamic banking cooperation with Iran. · Iran Tourism to Grow 4.3 Percent annually by 2019 In its latest forecast, World Tourism and Travel Council reports Iran tourism industry will experience a 4.3 percent annually as of 2009 to 2019, higher than its international average. · First Foreign Funded Food Chain Store Opened in Tehran The first ever foreign funded food chain store opened in East of Tehran with investment contribution of France and Emirati with 25 percent and 75 percent respectively. · US$ 6 billion Foreign Investment Deputy Minister of Economy and Financial Affairs says Iran has attracted US$ 6 billion direct foreign investment. · Chinese to Invest 280 million Euros in Roodbar Dam Project Chinese are to invest 280 million Euros in Roodbar dam project in Lorestan Province. It is to be completed by 2013. · Iran Constructs Connecting Bridge in Qatar The design and construction project of a connecting bridge in Doha Qatar was carried out by Iranian engineers. The 120-meter bridge is the first of a bundle of projects carried out by Iranians. · Qatar Investors Eyeing Iran The Minister of Economy and Private Sector of Qatar expressed readiness for investment opportunities in Iran. In his meeting with Iranian investors and residents in the country, he called for an active presence by Qatari investors in Iran.
August 31, 2009 · Iran 26th in GDP World Bank has placed Iran as 26th among 186 countries in terms of its gross domestic products. The report puts value of Iran's GDP as at US$ 385 billion and 143 million. · Iran Tops World Islamic Banking: Banker Banker announced recently that Iranian banks comprise 40 percent of Islamic banking industry in the world and have earned themselves 7 of the 10 ranking in the world's Islamic banking. · Non-oil Export to ASEAN up 1.2 Times Iran has exported 535 thousand tons of non-oil products to Association of Southeast Asian Nations during the first 4 months of the Persian Calendar year (March 21, 2009) which is 1.2 times higher compared to the previous figures. · Chinese 7.5 billion Euro Oil Refinery Investment Deputy Minister of Oil says the talks are underway with the Chinese regarding a 7.5 million euro investment in construction of new oil refineries in Iran in South Pars Phase 11. · Iran, Third Large Exporter of Oil to China Middle East Economic Survey in its latest issue has reported on Iran's oil export to China. The Magazine cites Iran as the third largest exporter of oil to China with a daily export of 520 barrels. · US$ 81 million Foreign Investment in Tehran Stock Exchange The head of Iran Stock Exchange Organization says the volume of foreign investment in Iran stock Exchange in the first quarter of the Persian Calendar year (March 21) has amounted to US$ 81 million.
August 28, 2009 · China Likely to Join Eco Express Line Project Economic Cooperation Organization Secretary General says China is likely to join ECO express train line project, stressing its importance as streamlining transportation among the member states. · Iran 3rd in Steel Production International Iron and Steel Institute says the production of steel in Islamic Republic of Iran has grown 12.5 percent over the past 7 months, earning the country the 3rd place only after Ecuador and Macedonia in production of this metal. · Iran 2nd Producer of Sponge Iron Sogora, an international research institute, says Iran has produced 4.3 tons of sponge iron over the past six months, second only to India.
· Petrochemical Export @ US$ 2.2 billion Director General of Iran National Petrochemical Industries Company says the volume of petrochemical exports over the past 5 months stands as at 4.4 million ton, i. e. US$ 2.2 billion. · Iran Joins Biodiesel Club Iran joined the club of a few countries with biodiesel technology after four years of research in the field conducted by Iran Biodiesel Company. Green fuel production project had recently become operational with the 50 tons daily capacity which feeds Isfahan Bus Service Company, the Director General says. · Articles of Association Ratified for 3 New Private Banks In its 111st meeting, the Monetary and Credit Council ratified the articles of association for 3 new private banks. · Iranian Companies to be Listed Internationally Director General of Iran's Privatization Organization says the Organization is planning to list Iranian companies at international stock exchanges, citing a few requests from such institutions. · Eleven Foreign Companies in LNG Talks Director General of Iran Natural Gas Liquefying Company says negotiations are underway with eleven foreign companies interested in purchasing Iran's LNG. · Business Monitor: Iran Exports to reach US$ 15.5 billion by 2013 Preliminary agreements have been reached with Russian, Turkish, South African, Indian and Omani companies for construction of new petrochemical units in Iran, said the deputy Minister of Oil. He further noted that once 10 new projects, worth US$ 4.3 billion, are operational this year, around 8.8 million tons of petrochemical products will be added to the current volume.
· Huge Oil Field Discovered China and Italy are negotiating to fund Bid Boland II gas refinery construction project in Iran, Deputy Minister of Oil said.
August 21, 2009 · Australia Studies Investment Opportunities in Iran Lington, Australian Investment Giant, says it is conducting studies on the construction of Iran-Iraq-Burma submarine oil pipeline. Highlighting the high number of investment opportunities in Iran, Wall King, the chairman says, one should tap into them instead of losing such opportunities. · 3 Million Tons Production of Methanol As of March 21, 2009 so far, Pars Petrochemical Company has produced 304 thousand and 850 tons of methanol bringing the total volume of production to 3 million and 28 thousand and 532 tons since the opening of the project. · German Traders Discontent with Government Many German traders are dissatisfied with disappointing approaches taken up by German government against the export of the non-military goods destined for Iran. They are pretty much concerned about losing profitable market in the country.
· Representatives from 30 countries Visit Tabriz Ambassadors and foreign representatives from more than 30 countries visited the facilities, investment potentials and capabilities in the free trade zone of Aras in Tabriz. · Huge Oil Field Discovered A huge oil field has recently been discovered in south of Iran, home to 20 thousand and 591 billion barrels of oil, Iranian Minister of Oil heralded. Further information will be later on detailed. · Tehran Province Ready to Export Technical Engineering Services to Singapore In a meeting with the Singaporean Ambassador-at-large, the Governor of Tehran Province evaluated the expansion of cooperation and direct trade, industrial, cultural and commercial ties between Tehran and Singapore. He further said the province of Tehran was prepared to export technical engineering services to Singapore. · Tehran and Alamty, World's Cheapest Travel Destinations Economist reported on the cheapest business visit destinations in the world cited Tehran, Iran and Almaty, Kazakhstan and second and first. A single business journey to Tehran costs only US$ 174. Tehran Stock Exchange Net Value Up US$ 6.5 billion International Federation of Stock Exchanges announced share of Tehran Stock Exchange in world stock exchange as at 0.142 percent for the first half of the year 2009, a rise of US$ 6.5 billion. · Four Petrochemical Projects Operational Preliminary agreements have been reached with Russian, Turkish, South African, Indian and Omani companies for construction of new petrochemical units in Iran, said the deputy Minister of Oil. He further noted that once 10 new projects, worth US$ 4.3 billion, are operational this year, around 8.8 million tons of petrochemical products will be added to the current volume.
· China, Italy Negotiate Financing Bid Boland II Refinery China and Italy are negotiating to fund Bid Boland II gas refinery construction project in Iran, Deputy Minister of Oil said. · Iran-Singapore Explore Expansion of Capital Markets In his meeting with Singaporean Ambassador-at-large, the head of Iran Stock Exchange Organization discussed means of expanding capital markets cooperation between the two countries. · Seven New Refineries by 2015 Director General of Iran Oil Refinery Industries Expansion Company says 7 new oil refineries will become operational by the year 2015 bringing the oil production to one million and 600 barrels per day.
August 14, 2009 · First Iran-Made Ocean Liner to Hit Open Waters The first ever Iran-made ocean liner is soon to be launched in the waters of the Persian Gulf. · Islamic Banks Winner of Financial Meltdown In its latest issue, Middle East Economic Survey, an economic research magazine, reported on the condition of the Islamic banking in the world, citing their unique banking style as the key to their recent success. · Iran Presence a Must: Turkey Turkish Minister of Energy termed the presence of Iran in Nabacco gas pipeline as a must. He further called for Iran’s participation in the project by exploring its gas reserves and exporting to international markets.
· Iran Bank Ranking Up: Banker Director General of Iran Export Promotion Bank says in its latest report, the Banker, has placed the said bank as at number 3 in terms of capital among the local banks and 288 among 1000 international banks. · Iran Gas Transfer Network 10% Growth The growth rate of gas transfer network in recent years stands at an astonishing 10 percent, says the Director General of Gas Transfer Company. · 20 billion Barrel Oil Reserves Explored Inviting more investment, Iranian Minister of Oil says the Caspian Sea oil reserves is estimated at around US$ 20 billion. · Iran, Sixth Oil Supplier to EU ZONE Eurostat reported on the status of oil export to the Continent mentioning Iran as its sixth largest supplier of crude oil to the Union for the year 2008. · EU IRAN Import Up 43% European Commission reported on the status of import from Iran. Twenty seven states of the European Union have increased their import from Iran 43 percent to 643 million Euros. · Aluminum Production Up 25% Iran Mineral Industries and Renovation and Development of Mines announced that the volume of aluminum production has grown 25 percent in the first four month of the Persian Calendar year (March 21). · Iran Hosts First Printing and Packaging Exhibition The first ever printing and packaging exhibition is to be held in Mashhad in November 2009. China, Italy, Germany and many other heavyweights are to participate in the event. · Iran-Malaysia Oil Cooperation Up US$ 20 billion Deputy Minister of Oil heralded the expansion of ties between Iran and Malaysia to US$ 2 billion saying a high ranking delegation from Malaysia will head to Tehran soon. He further added two oil refineries are to be set up in Malaysia in a joint venture and one in south of Iran. · US$ 5.3 billion worth of Export Goods Iran Trade Promotion Organization says the country has exported in the first four months of the Persian Calendar Year (March 21) 4500 products worth US$ 5.3 billion. · US$ 67 million USA Export to Iran USA has exported 160 kinds of products to Iran with a net value of US$ 67 million. Iran, on the other hand, has exported 57 kinds worth 20 million to the USA.
August 10, 2009
A research report funded by the Office of the British Prime Minister on the issue of energy shows Iran over the next 20 years will have the highest level of growth in the production of gas in the world.
International Monetary Fund predicted Iran’s GDP to grow 3.2 percent and stand at 44th place among 185 countries in the world in the year 2009.
Central Bank of Iran announced that the country’s foreign deposits grew more than US$ 15 billion last year.
Director General of Falat Ghare Company says negotiations are underway with a European company on investment in Lavan LNG field. The European firm is to invest US$ 4 billion to jointly produce liquefied natural gas in Iran.
A Chinese consortium and Iran’s National Oil Refinery and Oil Products signed a joint agreement to construction Persian Gulf Star oil refinery in Iran.
200 companies from 20 countries exhibited their latest products at Mashhad International Auto Show as of August 04-08, 2009, in an area of 40 thousand square meters.
Minister of Commerce Representative in Free Trade Zones says Qeshm and Kish Islands have respectively been designated for investment in industries-energy and tourism, banking, insurance and international stock exchanges.
Undersecretary for Housing and Urban Development says World Bank is funding urban development in Iran set for the next 12 year time span.
Islamic Republic of Iran Shipping Line has been elected chair of Regional Container Line Association.
The first quarter of current Iranian year (March 21) has seen US$ 246 million and 742 thousand excluding the figures from the export of condensates.
To weather out the international financial tsunami, Turkish investors have set their sights on Iran most especially in the city of Tabriz.
The ninth international festival of flora opened in Mahallat, Markazi province. The event consists of several parts including flowers, ornamental plants and the related industries. Representatives from four countries and 15 Iranian provinces will put on display their products in 132 pavilions. This year's festival indicates some 27 percent increase in terms of participants compared to the previous year's event.
After 12 years of non-stop efforts, Iranian experts have successfully designed and produced a carpet-weaving robot. The robot minimizes the time needed to design and weave the carpet to only 24 hours. Only two Swedish and Australian companies have access to such advanced robots. The robot could shift to new designs for weaving a carpet quickly and it enjoys the capacity to work with different kinds of thread.
After 12 years of non-stop efforts, Iranian experts have successfully designed and produced a carpet-weaving robot. The robot minimizes the time needed to design and weave the carpet to only 24 hours. Only two Swedish and Australian companies have access to such advanced robots. The robot could shift to new designs for weaving a carpet quickly and it enjoys the capacity to work with different kinds of thread.
Afghanistan, Iran and Tajikistan have agreed to prepare a plan to set up a joint investment fund to raise the level of economic cooperation. The agreement was reached during a trilateral meeting between their deputy foreign ministers in Tehran. The three neighbors also issued a statement calling for expansion of cooperation in the fields of electricity, transportation, education, healthcare and cultivation. The statement urges the Persian speaking countries to "fortify and expand" their political, economic and cultural ties, taking measures to fight terrorism and drug trafficking.
A senior Iranian provincial official announced that the exports of condensates (natural gas liquid) from the giant gas field of Assalouyeh have almost doubled during the last Iranian year (ended March 20, 2009). He noted that the gas production sales have reached US$ 2.342 billion.
July 31, 2009 · Iran, Italy Agreement on South Pars Phase 12 Representatives from Oil Ministry of Iran and an Italian company finalized their agreement for the latter to take part in the expansion of South Pars Phase 12. The contract is expected to be signed within a few days. The value of the agreement is estimated to be around 580 Euros. Similar negotiations are also underway with a consortium comprising companies from India, Japan and Iran. The contract value of South Pars Phase 12, part 2 is estimated around US$ 100 million. · Iran Gas Export to Europe Via Turkey Turkish paper reported Iran would export 35 billion cubic meters of gas to Germany through Turkey. Last year Iran and Turkey signed a major deal to carry Turkmenistan gas to Turkey through Iran. · US$ 280 billion Loan to Bolivia Granted Iran's top diplomat in Bolivia says the Islamic republic has approved a $280 million low-interest loan for President Evo Morales' government to use as it sees fit. Gas and oil exploration are possibilities. Masoud Edrisi told The Associated Press that loan's terms have not yet been set. The country has sold Bolivia Venezuelan-made tractors, built dairy plants and offered to help finance a state-owned cement factory.
· Iran Total Export Up 31 Percent: WTO In its latest report titled, “World Trade Report 2009”, World Trade Organization says Iran export has seen a rise of 31 percent compared to the similar period last year comprising one percent of the world’s exports. Iran’s imports have also risen 0.5 percent earning the 30th place in the world in that aspect. · A Korean Firm Signs US$ 96 million Contract Iran has contracted a Korean firm to build 8 electricity generators with a value of US$ 96 million. They will be delivered to Iran by 2010. · Iran, 4th in Handicrafts Export Director General of Zanjan Province’s Cooperative Council says Iran is the 4th in the world in terms of handicrafts export in the world which should be improved given the potentials in the country.
July 24, 2009 · Iran to Cut Crude Exports Iranian Oil Minister Gholam Hossein Nozari announced that the country aims to reduce its crude oil exports as a way to hike export of other oil products, terming it the strategy of the Islamic Republic. Noting that Iran plans to become the biggest producer of petrochemical products in the region, Nozari reiterated that the country is capable of producing 4.3 mln barrels of crude oil per day. · Iran to Launch Rial-Based LCs in Afghanistan Head of Iran's Chamber of Commerce, Industries and Mines Mohammad Nahavandian announced that the country has started opening Rial-based Letters of Credit (LCs) in Afghanistan in a bid to facilitate trade for Iranian businessmen."Based on the negotiations held with the Afghan commerce minister, it was decided that the obstacles in the way of Iranian investors' activity, specially for the transfer of credits and Bank exchanges, be removed through opening LCs in Rials and establishing a direct link (line of credit)," Nahavandian added. · Tehran, Baghdad Sign MoUs on Energy Cooperation Iranian and Iraqi officials inked two Memoranda of Understanding on energy cooperation, including management of joint oil fields. "We seek to preserve interests of the two countries and to have win-win negotiations," Head of the National Iranian Oil Company (NIOC) Seifollah Jashnsaz said. Given the two countries' rich energy reserves and potentialities, they plan to develop their oil and gas sections in a 10-15-year period, Jashnsaz added. He described the long borders with Iraq a strategic opportunity for both countries, and reiterated there are 85 oil and gas fields in Iraq which should be developed in 10 years. Iran is able to present exploration, digging and some extra services to Iraq. · Iran to Hold Int’l Hand-Made Carpet Show Late September The 18th international hand-woven carpet exhibition of Iran will be held at the Tehran Permanent International Fairgrounds on September 23-29. Iran National Carpet Center will be the host to the show which is aimed at publicizing Iranian exquisite carpet and developing exports of the product. INCC has invited over 100 major merchants and carpet dealers from 60 countries to attend the event. The 17th edition of the carpet show was attended by 414 domestic and 150 foreign companies from Russian, Germany, Norway, Belarus, China, France, Italy, the U.S., Lebanon, and the United Arab Emirates. Iranian hand woven carpets are acknowledged internationally and always remain in high demand due to their exclusive designs and excellent craftsmanship.
· Iran, China Plan to Increase Commercial Exchanges to US$ 28bln in 2009 The President of Iran-China Chamber of Commerce Assadollah Asgaroladi said with economic stability the two countries will grow the volume of commercial exchanges to over 28 billion dollars in 2009. Fifty to 60 percent of the total amount belongs to Iran including 40 percent nonoil export to China. According to Asgaroladi with economic stability in the country, Iran would be able to increase the volume to 50 billion dollars at the end of the Fifth Five-Year Development Plan (2010-2015) comprising 20 billion dollar nonoil goods. Meanwhile, he continued, Iran seeks establishing 5 commercial centers in Shanghai, Beijing, Xinjiang, Hong Kong and Guangzhou. · Mineral Exports Leading Non-oil Exports Deputy Minister of Industries and Mines says mineral products with the value of US$ 4.7 billion ranked first in non-oil exports for the year 2008. · Iran First in Oil and Gas Exploitation Oil Ministry says Iran has over the past 2 years stood number one in terms of exploitation of gas and oil fields in the world with 15 oil and gas fields discovered. · 82% Rise in Khorasan Saffron Export The head of Khorasan Razavi Province Trade Organization says the first quarter of the Persian Calendar year (March 21) has seen a rise of 82 percent in the export of the indigenous saffron.
July 03, 2009 · Asia Exports to Iran Up 5 Folds International Monetary Fund reported that Asian countries’ exports to Iran have increased 5 folds over the past years. · Iran, Fourth Exporter of Oil to Japan Iran is the fourth exporter of oil to Japan with 1.757 million tons per month.
June 30, 2009 · IMF: Iran 3rd Largest MIDEAST- Central Asia Trader Latest report by International Monetary Fund puts Iran as the third largest trader in the Middle East and Central Asia region with a trade turnover of US$ 205 billion in the year 2008. · US$ 10 billion Technical –Engineering Exports Iran Trade Promotion Organization says the export of technical and engineering services over the past eight years stands as at US$ 10 billion. · WFE: Bourse of Iran among Best In its latest report, World Federation of Exchanges (trade organization for securities markets) has listed Bourse of Iran among the best in terms of maintaining the current value. · Iran-Thailand-Japan Joint Investment in Petrochemicals President Ahmadineja officiated the opening of Mehr Petrochemical Complex in Persian Gulf’s Asalouyeh. The project was a joint venture by Iran, Thailand and Japan. · GDP up US$ 47 billion Economist reported that Iran’s GDP is expected to grow US$ 47 billion and 500 million dollars to US$ 384 billion and 800 million this year. · US Exports to Iran Doubles Under Obama Latest trade figures show the volume of exports to Iran from the USA has doubled under the Obama Administration; US$ 96 million as of January to April 2009. · World’s Sixteenth Automaker OICA has placed Iran as the sixteenth big producer of automobiles in the world with the production of more than one million and 51 thousand cars in the year 2008. · US$ 5 billion Indian Investment in Iran Indian ONGC Videsh, involved in natural gas business, has proposed a US$ 5 billion investment in the course of 3 to 4 years in Iran. · Countries Seeking Membership in Gas Opec Iran representative to the newly formed gas cartel known as Gas Opec says the organization has received several membership application recently.
June 10, 2009 · Iran: Shell, Repsol Offer New Gas Proposal Royal Dutch Shell and Repsol have offered a new proposal on a major gas project in Iran's South Pars gas field, Iranian Oil Minister Gholam Hossein Nozari announced here on Tuesday. "Shell and Repsol have offered a new proposal for initial production of Phase 13 and 14 of South Pars gas field," Nozari said, speaking at a press conference in Tehran. "In the Latest meeting with officials from Shell and Respol, we offered them a 45-day deadline to declare their decision on phases 13 and 14 of the South Pars gas project," Jashnsaz said. The Persian LNG project concerns development of production and exports of liquefied natural gas from a part of the South Pars field in the Persian Gulf. · Iran’s annual foodstuff exports exceed $770m An official with the Trade Promotion Organization of Iran stated in Tehran that the country exported over $770 million worth of food products in its last calendar year (ended March 20, 2009). Mehrdad Jalalipour added, “The figure shows a six percent growth over the figure for the preceding year.” Soft drinks, mineral water, sweets, dairy products, jam and jelly, fruit juice, and pasta were the main food products that have been exported to Iraq, Afghanistan, Turkmenistan, Tajikistan, Saudi Arabia, Kuwait, the UAE, Qatar, Oman, Germany, Spain,the Netherlands, France, Canada, Venezuela, Japan, South Korea and Turkey. · Iran's Kala Naft Oil Company to open office in Beijing Iran’s Manufacturing Support and Procurement Kala Naft Company will set up an office in Beijing, China in the near future. The Kala Naft Oil Company is affiliated to the National Iran Oil Company and aims to procure and supply oil industry facilities from China to Iran. · First Meeting of Gas OPEC The first ministerial meeting of the OPEC-like gas forum will be held in the Persian Gulf littoral state of Qatar on June 30, Iran's OPEC governor announced. "Topics such as financial issues, budget and personnel of the oil ministries of exporting, countries will be discussed and studied (at the meeting)", Iran's Governor at the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Ali Khatibi told FNA about the upcoming meeting of the Organization of Gas Exporting Countries (OGEC). He further reminded that the statute of the gas forum had been ratified by the ministers of the gas exporting countries last December in Moscow. · Iran-Malaysia Businessmen Council Inaugurated Iran-Malaysia Businessmen Council was inaugurated and officially started activity in Kuala Lumpur. Iran-Malaysia trade in 2008 at some $5 million ringgit (about $1.43b), showing a 45 percent growth over the figure for 2007. The current number of Iranian firms in the country stands at 50 thousand. · Iran exports LPG to Indonesia Iran exported the first liquefied petroleum gas (LPG) produce of the South Pars phases 6, 7 & 8 development plan to Indonesia, the development project manager said. SHANA quoted Mohammad-Javad Shams as saying that the 6500-ton consignment has been exported to Indonesiavia the Pars port in Assaluyeh. · Iraqi President Urges Investment by Iranian companies Iraqi President Jalal Talabani called for investment of Iranian companies in his country. He made the remarks in a meeting with Iranian Ambassador to Baghdad Hassan Kazemi Qomi. During the meeting, the two sides reviewed issues of mutual interest including further expansion of bilateral cooperation between the two neighborly states. · US$ 2 billion Mineral Products Exported The Organization for Renovation and Expansion of Iran’s mines says the country has exported one billion and 888 million US dollars of mineral products last year.
· Iran commercial delegation arrives in Malaysia Head of Iran’s Chamber of Commerce, Industries and Mines Mohammad Nahavandian arrived in Kuala Lumpur to attend 6th World Chambers Commerce Congress. Some 1,300 representatives from more than 100 world countries as well as 50 international figures are taking part in the global event which is to commence June 3-5. The meeting aims to foster trade cooperation among developing countries in the world markets.
June 03, 2009 · Mehr Petrochemical Complex Starts Production The Mehr Petrochemical Complex in Assaluyeh has become operational, the National Petrochemical Company managing director said. SHANA quoted Adel Nejad-Salim as saying, “The Mehr Petrochemical Complex is one of NPC’s major projects implemented through a $230 million joint venture by the domestic private sector and foreign investors.” A consortium which is comprised of Iran’s RAMPCO and Japan’s Mitsui companies implemented the plan that includes the construction of a 300-ton high density polyethylene plan. · Official Urges All-out Expansion of Iran-Japan Trade Ties Head of Iran's Chamber of Commerce, Industries and Mines Mohammad Nahavandian said that the Iran-Japan economic relations should expand in various fields. Nahavandian told President of the Japan Chamber of Commerce and Industry and President of the Tokyo Chamber of Commerce and Industry Toshio Nakamura. Nahavandian is in Japan to attend joint seminar of Iranian and Japanese common chambers, the Islamic republic news agency reported. "Iran's economy no longer focuses merely on oil, gas or pistachio and carpet. Rather, there are highly extensive grounds available in Iran's economy today. · Transfer of Capital from Dubai to Persian Gulf Kish Island Up Deputy for Economic and Investment Affairs at Kish Free Trade Zone says the transfer of capital from Dubai to Kish Island has increased and has uplifted the property constructions there. He further added that a number of Iranian investors have changed their market from Dubai to Kish Island. · Official Urges All-out Expansion of Iran-Japan Trade Ties Pars News Agency reported a 15.7 percent rise in the value of Iran Stock Exchange by the end of April 2009 due to the recent listing of Bank Tejarat and some other companies. · S. Korean firm to construct Lordegan combined cycle power plant South Korea’s STX Corporation here on Sunday signed a contract to take part in Lordegan combined cycle power plant construction. The power plant will come on stream at an estimated cost of €373 million, IRINN reported. STX and Energy Gostar Lordegan Company will fund the project. The implementation of the project will start in September and the plant will be completed in 32 months. · Iran customs to be equipped with ASYCUDA by March 2010: official The Islamic Republic of Iran Customs Administration director general stated that the country’s customs offices will all be equipped with the Automated System for Customs Data (ASYCUDA) by the end of the current calendar year (March 20, 2010). Ardeshir Mohammadi said that the system will notably facilitate cargo releasing procedure as the main activity in customs, he noted. The Automated System for Customs Data is a computerized system designed by the UNCTAD to administer customs affairs. ASYCUDA generates trade data that can be used for statistical economic analysis. · 2.5 billion Technical and Engineering Services Exports Deputy Minister of Trade says the country has exported last year US$ 2 billion and 547 million dollars worth of technical and engineering services. · US$ 2 billion Mineral Products Exported The Organization for Renovation and Expansion of Iran’s mines says the country has exported one billion and 888 million US dollars of mineral products last year.
· Iran commercial delegation arrives in Malaysia
Head of Iran’s Chamber of Commerce, Industries and Mines Mohammad Nahavandian arrived in Kuala Lumpur to attend 6th World Chambers Commerce Congress. Some 1,300 representatives from more than 100 world countries as well as 50 international figures are taking part in the global event which is to commence June 3-5. The meeting aims to foster trade cooperation among developing countries in the world markets.
May 29, 2009 · Gazprom Willing to Participate in Iran-Pakistan Pipeline Project Russian Deputy Energy Minister Anatoly Yankovsky announced his country's preparedness to take part in a multi-billion-dollar pipeline project to carry Iran's gas to Pakistan. another Russian official told the daily that the pipeline projects has many benefits for his country as the South Asian markets will not compete with Russian gas to Europe since they receive Iranian gas. Iran and Pakistan signed a deal on Sunday for laying of a gas pipeline to transfer Iran's rich gas reserves to the energy-hungry Pakistan. According to the deal, Iran will supply 23 million cubic feet gas to Pakistan on a daily basis for 25 years. · Iran to Issue South Pars Bonds Iran is to issue one billion euros ($1.4 billion) in bonds to help it in the development of South Pars gas field, Oil Minister Gholam Hossein Nozari said. "These bonds will speed up the implementation of energy projects in both upstream and downstream sectors," Shana quoted Nozari as saying. The Oil Ministry has called for the issue of more than $12 billion worth in bonds for a period of three years, Shana said. · S. Korea ready to invest in Chabahar
South Korean ambassador to Iran announced his country's readiness for
investing in Chabahar Free Trade Zone. Yung Muk Kim made the remarks
while visiting the zone Tuesday. "Given the agreements reached during
the trip, we will have cooperation in different fields," he said, adding
that he will draw the attention of his country's economic officials to
the region. Projects under implementation in Chabahar will transform it
into an economic hub both at the national and international level. · Iran Grabs First XBRL Spot For the first time ever, an Iranian academic team has earned itself the first prize at International Extensible Business Reporting Language in the United States. XBRL is the specification for the eXtensible Business Reporting Language. XBRL allows software vendors, programmers, intermediaries in the preparation and distribution process and end users who adopt it as a specification to enhance the creation, exchange, and comparison of business reporting information. Business reporting includes, but is not limited to, financial statements, financial information, non-financial information, general ledger transactions and regulatory filings, such as annual and quarterly reports. · Malaysia keen to use Iran's green technology experiences Malaysia’s Minister of Energy, Green Technology and Water, Peter Chin Fah Kui, voiced his country's interest in using Iran’s valuable experiences in the field of green technology. The newly-appointed minister made the remark in a meeting with Iran’s Ambassador to Malaysia during which he was also briefed on Iran's achievements in various fields of energy. Khandaqabadi further pointed out that Iran was among the countries which supplied electricity to other regional countries. The two officials also discussed an agreement on mutual cooperation in energy sector. · Foreign investment conference to be held in Iran
An international conference on foreign investment in Iran with the
purpose of introducing country’s opportunities and capacities will be
held here on May 30, 2009. High representative of Islamic Development
Bank, senior government officials and international financial companies
as well as representatives from 15 foreign countries will attend the
conference. Investment opportunities as well as possibilities on 11
economic fields will be presented in the conference. · 9,000 TEU container ship anchors at Rajaee Port A Shahid Rajaee Port Complex official here on Monday announced that a large ship with 9,012 twenty-foot-equivalent units (TEU) capacity anchored at the port. The ship which belongs to Mediterranean Shipping Company (MSC), the world’s second largest shipping line, is the largest vessel that has ever entered Shahid Rajaee Port, said Hossein Cheraghi. The vessel will unload 290 TEU containers and will load 465 TEU containers during its stop at the port, the official noted. He added that the entry of such vessels will make the Shahid Rajaee Port the region’s transshipment hub. · Iran attends Autopromotec 2009 First Iran attended the 2009 edition of Autopromotec, Italy’s leading automotive and tire trade show, that kicked off on May 20 in Bologna, Italy. 1421 companies from 50 countries attended the show to showcase their products, achievements, and services in the fields of machinery, equipment, moulds and materials for tire specialists, materials and products for the sale and repair of tires, machines and equipment for engine overhaul, spare parts, components, and car services.
· Iran, 39th Industrial Country
Economist reported Iran is now positioned as the 39th in the world in terms of industrialization with US$ 23 billion industrial products.
May 26, 2009 · Iran, Pakistan Sign Gas Pipeline Deal Iran and Pakistan signed a deal for laying of a gas pipeline to transfer Iran’s gas to Pakistan. The deal known as “Peace Pipeline” was signed on the sidelines of the current tripartite summit on Afghanistan security in Tehran. President Mahmoud Ahmadinejad and his Pakistani counterpart signed the contract and exchanged views on the project. The Pipeline would allow Iran’s gas to be exported to Pakistan through Assalouyeh. The 2,700 kilometer long pipeline is to transfer Iranian gas to India via Pakistan. It is predicted that some 1,100 kilometers of pipelines would be laid in Iran’s territory, 1000 kilometers in Pakistan and 600 kilometers in India and is to be completed within 5 years. · Iran to Become Forth Steel Producer in World Iran will achieve self sufficiency in steel production and become the world's fourth steel producer in the near future, Iranian First Vice President Parviz Davoudi announced. He further pointed out that the Iranian steel industries would soon flourish due to the huge investments made in the sector, and expressed hope that the country would become the world's fourth steel producer in the near future. · Indonesia's Telkom still Interested in Buying Stake in TCI Indonesia's largest telecommunications firm PT Telekomunikasi Indonesia announced that it was interested in buying a stake in Telecommunication Company of Iran (TCI). Telkom's vice president for public and marketing communication Eddy Kurnia said. Analysts say that despite the pressures, the size of Iran's market and its energy resources still make it an attractive investment prospect. · Japanese Eye Energy Cooperation with Iran Japanese corporations will be heading Iran soon in a bid to increase energy cooperation. Iranian Oil Minister Deputy for International Affairs, Hossein Noqrekar Shirazi, told ISNA that Japanese delegation will travel to Iran in next two months for talks on optimizing energy system. Iran and Japan will have more expanded cooperation in up-stream and down-stream oil industries · Iran-Japan chambers of commerce to hold joint seminar A joint seminar of Iran and Japan chambers of commerce will be held in Tokyo next Thursday and Friday ( May 28-29). Mohammad Nahavandian, chairman of Iran’s Chamber of Commerce, Industries, and Mines along with his deputies and a number of top company managers as well as Toshio Nakamura President of the Japan Chamber of Commerce and Industry, will attend the seminar. Iran-Japan trade is in a good level and the sides’ trade volume in 2008 touched $20 billion. Nahavandian will hold meetings with some high ranking Japanese economic officials like Yasuo Hayashi Chairman and CEO of Japan External Trade Organization (JETRO). · Korean firms eager to invest in Qeshm oil and gas Korean investors have stated their readiness to invest in Qeshm’s oil, gas, and energy projects, Qeshm Free Trade Zone Manager Mohammad Asghari said. The Mehr News Agency quoted Asghari as saying, “During the meeting with South Korean ambassador to Tehran, Kim Young-Moke, he pointed out that Korean investors are eager to invest in Qeshm Island’s oil and gas projects.” “Foreign investors have shown great interest to invest in Qeshm Island and we predict that due to the continuation of the global economic recession, Qeshm will host more foreign investors.” · Russia seeks to boost energy ties with Iran: Borodavkin Russian Deputy Foreign Minister Alexei Borodavkin called for the expansion of energy ties between Tehran and Moscow. During his meeting with his Iranian counterpart Ali Ahani, Borodavkin highlighted the importance of boosting economic and political ties between the two countries and said, “Russia is ready to cooperate with Iran to secure the Caspian Sea’s peace.” Ali Ahani also underlined the need for boosting bilateral ties. Iran and Russia are among the world’s leading energy suppliers. · Project to build first solar-powered tractor underway First hybrid tractor is being built by researchers with Tehran University's Agriculture and Natural Resources Faculty. Executor of the project, Ali Reza Keyhani told IRNA that work on the tractor began in May 2007 and 70 percent of the project is complete. Designing of the tractor is completely indigenous and mass-production of this agricultural device is possible in the country.
· Iran 17th in the World in Auto Industry
Iran has improved its 1997 thirty first standing in auto production in the world to 17th in 2007, putting behind some powerhouses including Belgium with 997 thousand and 240 automobiles produced.
May 21, 2009
Iran's ambassador to Japan Abbas Araqchi said Tuesday that Japanese companies want to have a major share of investment in gas, oil and petrochemical sectors in Iran. In a meeting with former Japanese prime minister, Junichiro Koizumi and leading members of Japanese ruling Liberal Democrat Party here on Tuesday, Araqchi said that Japanese companies want their government to support their participation and investment in Iran's oil, gas and petrochemical projects. Koizumi noted that trade between Iran and Japan reached about $20 billion in 2008.
Iran is among the top 20 countries with superior mineral reserves. Announcing this, director of Geology and Mineral Exploration Organization's Exploration Department, Behrouz Borna told IRNA that Iran ranks first in at least ten types of minerals. Iran is located on proven gold, copper, zinc and iron belt, he noted, adding that currently, some 70 types of minerals are extracted from 5,019 operational mines in Iran. He added that Iran boasts of 55 billion tons of mineral reserves and has the richest mines in the world. Borna also said that Ilam province has rich mines in construction materials. The province also has 400,000 tons of bitumen reserves for producing tar, he said, noting that there are nine active bitumen mines in the province.
Iran has the greatest gas network in the world with 30,000 kilometers of high-pressure pipelines.
May 19, 2009
Oil Minister Gholam-Hossein Nozari here Monday said Iran will likely assume the post of secretary general of Gas Exporting Countries Forum (GECF) in case there is a lack of consensus on the issue. "Under the charter of Gas Exporting Countries Forum, in case there is no consensus on a candidate, the secretary general should be chosen on alphabetic order. So, there is the possibility that the post would go to Iran for a specific period," Nozari told the 11th seminar of senior directors of the oil industry.
The first wide steel sheet factory across the Middle East will become operational in Khuzestan province concurrent with the anniversary of Khoramshahr's liberation on May 24. Once the factory comes on stream, the Islamic Republic of Iran will join the ten countries which produce wide steel sheet across the globe.
Head of the Iranian-Chinese Chamber of Commerce Asadollah Asgaroladi said the two countries inked 18 agreements on building railway, commerce, mining, engineering and technical cooperation. According to the agreement signed during previous days, the Chinese companies will participate in the projects for the development of Iran's railways, mining and building sectors and host joint exhibitions. The agreements which are worth $17 billion, were reached during a conference on Iran-China economic cooperation in Tehran that hosted some 500 Iranian and Chinese officials and businessmen. Noting that a Chinese delegation is due to arrive in Tehran on June 3 to discuss Iranian exports to China, Asgaroladi also announced a visit by an Iranian delegation to China to pave the way for building the first Iranian trade center in shanghai and another one in Xinjiang province which is predominately Muslim. In recent months, Iranian and Chinese private sectors have signed dozens of agreements that increase their cooperation in various economic fields.
May 18, 2009
Over 100 Italian industrialists, bankers, and managers of big firms in a meeting with the caretaker of Iran’s Embassy in Italy on Friday called for expansion of trade ties with Iran. “Despite the global economic crisis, Iran-Italy trade shows an increasing trend as the figure for the two-way trade rose to nearly €6.1 billion in 2008 with around €76 million growth compared with 2007,” Turin Chamber of Commerce Chairman Alessandro Barberis and Italy-Iran Joint Chamber of Commerce President Rosario Elessandro put forward issues regarding ways to promote bilateral trade, particularly in the textile and the petrochemical sectors.
Tejarat Bank Managing Director Majid-Reza Davari here on Saturday stated that five percent of the bank’s shares will be offered in the Tehran Stock Exchange tomorrow. IRINN quoted Davari as saying that Tejarat Bank was established in 1979, and currently has (about $1.05 billion), 1978 branches, and 21,298 personnel inside and outside the country. Davari also stated that the bank is promoting its activities in foreign countries, announcing that in the near future the bank will open branches in Belarus, Beijing, Austria, Turkey, and Iraq. Tejarat Bank is the second Iranian bank to be privatized, the first being Mellat Bank. According to the Fourth Five-Year Economic Development Plan (2005-2010), the Privatization Organization of Iran affiliated to the Ministry of Economic Affairs and Finance is in charge of setting prices and ceding shares to the general public and on the stock market. The current privatization effort calls for an initial public offering (IPO) of five percent of the firms being privatized. Once the five percent is public, it will establish a market price which further offerings can be based on. According to a study conducted by the IMF in 18 countries, privatization adds 2 percent to the government’s GDP per annum.
The 7th Iranian international exhibition on kitchen, bath, sauna, and pool industries and equipment (KB-SP 2009) opened at the Tehran Permanent International Fairgrounds on Thursday. 80 foreign companies from Germany, Spain, Turkey, France, South Korea, Britain, the Netherlands, Italy, Brazil, China, Hong Kong, and Malaysia, plus 195 domestic firms have put their products on display at the expo. Iran imported more than $400 million worth of kitchen and bath appliances in its last calendar year (ended March 20), while it exported nearly $130 million in the same period. The value of exports was some 15 percent above the figure for the preceding year. Iraq, Afghanistan, Armenia, Tajikistan, Azerbaijan, Caucasus Region, African and Latin American countries are the main target markets for Iranian-made kitchen, bath, and pool appliances and equipments.
Tehran, May 16, IRNA -- Iran is among top ten manufacturers of gas turbines with capacity of 160 megawatts, deputy energy minister said on Saturday. Hamid Chitchian told the inaugural ceremony of National Conference on Thermal Power Stations that fortunately, Iranians have attained great achievements in manufacturing turbines in the past 30 years. Stating that Iran is the first country in Middle East in the field of manufacturing gas turbines with capacity of 160 megawatts, he noted that Iranian technology has entered the world markets and that Iran has built power stations in Iraq, Syria and Oman. Referring to the development of power plants technology in Iran, Chitchian further said that until 1983, all power stations were built by foreign contractors without the involvement of the Iranian experts.
May 15, 2009
Iran-Iraq trade exchanges stood at $4.4 billion last year, a trade official announced on Wednesday. Kheirollah Khadem made the remarks while addressing a conference on promotion of Iran-Iraq trade held in this western provincial capital city. The Islamic republic news agency quoted Khadem as saying Iran is making efforts to turn Iraq to its first trade partner. Praising Iraq's great exports potentials, he called on the Iranian businessmen to pay due attention to Iraqi markets.
Seven foreign banks have applied to open branches in Iran, Central Bank of Iran Governor Mahmoud Bahmani said here on Wednesday. “Seven foreign banks have submitted their applications to the Central Bank, and if they adjust to our conditions, we will not have any problem in granting permission to them,” he told reporters in Tehran.
May 14, 2009
Iran’s First Vice President who returned to Tehran Wednesday morning after a 6-day tour to South Africa, Tanzania and Zanzibar said Iran is to establish agricultural offices in Zanzibar City and Dar es Salaam.
Iranian and Pakistani commerce ministers signed three Memoranda of Understanding (MoU) on trade cooperation at the end of the fifth meeting of the two countries' joint trade committee here in Tehran on Wednesday. According to the Iranian Commerce Ministry, a review of preferential trade, border trade, plant quarantine, banking relations and exhibition activities are among the issues included in the agreements. Iran's Trade Promotion Organization (TPO)and Pakistan also inked an MoU to boost efforts in expanding bilateral ties through exchanging information, running marketing activities and performing bilateral trade activities. A third memo was signed by the Islamic Republic of Iran's International Fairs and Exhibitions Stock Company and Pakistan's Trade Promotion Organization, the ministry report said.
Iranian First Vice President Parviz Davoudi announced that Iran will invest $200 billion in its oil and gas sectors over the next five years. "Iran's investment in the oil and gas sectors will amount to $350 billion over the next ten years," Davoudi said.
May 13, 2009
Iran exported nearly $1.3 billion worth of non-oil products to the member states of the Association of Southeast Asian Nations (ASEAN) in last Iranian calendar year (ended March 20, 2009), the Trade Promotion Organization of Iran’s Deputy Director Babak Afqahi said here on Monday. This figure shows a notable 167 percent growth in comparison to the preceding year''s figure of $465 million, “High potentials of the ASEAN market for Iranian-made products and the government’s positive approach to expand trade relations with the Southeast Asian nations are the major reasons for the significant rise in exports, Petrochemicals, carpet, pistachio, citrus fruits, medicinal herbs, and food products are the major exported items to ASEAN countries.
private sectors signed 20 joint venture deals on the sidelines of the Conference on Iran-China Trade Cooperation in Tehran on Sunday. The deals were related to railways, mining, building construction, and electric appliances.
An international seminar titled Foreign Investment in Iran will be held in Tehran on May 30, stated the director of the Organization for Investment, Economic and Technical Assistance of Iran here on Tuesday . IRNA quoted Behrouz Alishiri as saying that the seminar aims to get foreign entities acquainted with investment opportunities and advantages in Iran. According to the public relations office of the Organization for Investment, Economic and Technical Assistance of Iran, investors from 15 countries including Russia, Turkey, Japan, Denmark, and Saudi Arabia will attend the three-day event. “The seminar will focus on petrochemical, automotive, construction, tourism, steel, intermediary products, energy, telecommunications, food, agriculture, aquaculture, and pharmaceutical industries.
Iran has reached agreements with companies from South Africa, Turkey, Indonesia, and India to co-implement six petrochemical projects in the country, the National Petrochemical Company (NPC) managing director stated on Tuesday. “The Olefin 12th unit in the Persian Gulf Petrochemical Complex will be built in cooperation with the South African Sasol Company in Assaluyeh," Adel Nejad-Salim said, adding the project is predicted to come on stream in 4 years. He told the Mehr News agency that Sasol had previously cooperated with NPC for the construction of the Olefin 9th unit in Arya Sasol Petrochemical Complex. “NPC has also reached agreement with a Turkish company to launch a methanol production unit in Assaluyeh with the estimated annual output of 1,650,000 tons,” Nejad-Salim explained. He went on to say that a polyethylene production unit with the production capacity of 300,000 tons will be also constructed in the city of Mahabad with the help of another Turkish company. “An Indian firm will build an ammoniac and urea production unit in Assaluyeh with the annual production capacity of 1 million tons,” he said. “National Iranian Gas Company, NPC, and an Indonesian company are to construct an ethane recovery unit near Parsian Gas Refinery in Assaluyeh with the annual production capacity of 1,300,000 tons,” the NPC director noted. An Indian company has agreed to construct an ethylene propylene diene monomer (EDPM) unit with the production capacity of 40,000 tons per year,” Nejad-Salim concluded.
Some five million meters of carpets are woven in Iran each year by 1,200,000 weavers. Announcing this, deputy head of Iran’s National Carpet Center, Mohammad Reza Abedi told reporters on the sidelines of the Second Hand-Woven Carpet Festival that 80 percent of the amounts are exported while the rest used inside Iran. Referring to Iran’s high position in the field of carpet production, he noted that currently, European countries, especially Germany, the US and Persian Gulf littoral states are considered the best markets for Persian carpet. Some 60 percent of Iranian carpets are exported to the US and European countries.
May 12, 2009
Brazilian Deputy Minister of Development, Industry, and Trade Ivan Ramalio urged expansion of economic and trade ties with Iran through establishment of new transportation routes. "Given the potentials existing in two countries' economies for the promotion of the level of cooperation, the ground required for easier contacts between Iranian and Brazilian investors and traders could be prepared through establishment of transportation routes," Ramalio said in a meeting with Chairman of Iran's Chamber of Commerce, Industries, and Mines Mohammad Nahavandian in Brasilia on Saturday.
The Gas Exporting Countries Forum (GECF) will officially begin its activity in July after naming its secretary general at the upcoming Doha meeting in late June, Iran’s representative to GECF stated on Sunday. Mohammad-Ali Khatibi told IRIB that the forum will convene a committee of experts two weeks earlier than the ministerial meeting. The Gas Exporting Countries Forum, which has been called the ‘gas OPEC’, groups together some of the world’s leading gas producers. The energy ministers of the member countries attended the 7th GECF ministerial meeting in Moscow on December 23, where they approved the charter of the organization. The GECF was established in Tehran in 2001. Until the seventh ministerial meeting in Moscow, it operated without a charter or fixed membership structure. Since the Moscow meeting, the members are Algeria, Bolivia, Brunei, Egypt, Equatorial Guinea, Indonesia, Iran, Libya, Malaysia, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates, and Venezuela; in addition, Kazakhstan and Norway have observer status.
The global economic crisis and the subsequent slash in investment in the upstream oil and gas projects will be followed by a leap in oil prices once the world economy retains growth, a senior Iranian oil official said . Referring to the impacts left by the economic meltdown on the global oil market, Deputy Head of the National Iranian Oil Company (NIOC) for Investment Hojatolah Ghanimifard told conventional oil and gas producers seem to be experiencing "a better condition in comparison with the years when crude prices were above $80 or 100". "Given the slash in oil prices, oil extraction and investment is costlier for unconventional producers and as a result the finished cost for the production of each barrel of oil is higher than what is paid by conventional producers, making extraction uneconomic for the first group of countries," Ghanimifard said. "Thus, many of these unconventional producers have stopped their costly projects for oil exploration and production," he added. If predictions that the global economic crisis will end by the end of the current year come true, then we will witness both a move towards economic growth and flow of investment in the oil industries, Ghanimifard said. Elaborating on the causes underlying a future shock in the global oil market after the end of economic crisis, Ghanimifard reiterated that with the beginning of the global economic growth, demands for crude oil would multiply after one or two years but as there is no investment in oil producer countries at present, the world will witness a shock in the oil market due to a severe lack of supply.
Businessmen and traders from Taiwan participated in a one-day seminar here on Sunday to showcase the country's economic potentials in various industries and businesses. Some 58 companies from Taiwan in the fields of industrial materials and computers took part in the seminar to publicize their scope of activities in Iran. Deputy Chairman for Taiwan's External Trade Development Council Sheng-Chung Lin delivered a speech at the opening ceremony of the event in which he said that businessmen from Taiwan will exert a more active role in the Middle East and that is why they have targeted Iran and Saudi Arabia as two potential regional markets. "We believe that some new economic zones are now emerging in the region which should be explored," he said. The Islamic Republic of Iran has very good economic growth and has not been impacted by global economic meltdown which is of prime importance for Taiwanese businessmen, he pointed out. On the sidelines of the one-day seminar, Taiwanese companies showcased their products in various sectors at Hotel Homa in Tehran.
May 11, 2009
China is Iran’s leading trade partner in Asia, but both countries still seek to expand their economic relations, Iranian Foreign Minister Manouchehr Mottaki said on Sunday. “China is currently Iran’s main economic partner in Asia and also Iran’s third leading trade partner in the world,” he said at the Iran-China trade cooperation conference in Tehran. Mottaki noted that the level of trade between the two countries increased from $400 million in 1994 to $29 billion in 2008 and said this shows Tehran-Beijing economic relations have grown at an average annual rate of 40 percent over the past few years. The economic power of countries is the most important factor in all regional and international equations, and China, with the world’s fourth strongest economy and total foreign trade exchanges of $2 trillion in 2008, has a very significant role, he added. He went on to say that Iran’s position in the manufacturing sector and its substantial share of the energy market as well as the recognition of Iran’s markets and its growing industrial centers have made the country a regional power. However, Iran and China have yet to fully exploit their economic potential in various spheres, he said. “Iran’s trade with China must be improved, and this objective will not be achieved without the assistance of the non-governmental sector,” the Iranian foreign minister pointed out. Mottaki said that a number of steps must be taken to improve Iran-China trade relations, such as signing customs agreements, coordinating the two countries’ import-export regulations, removing financial and banking obstacles, and establishing legal arbitration boards. Meanwhile, the Chinese ambassador to Tehran, Xie Xiaoyan, said here on Sunday that Beijing is determined to expand its trade with Tehran. “The Chinese Embassy in Tehran will continue working with Iranian companies in order to expand cooperation between the two countries,” he said at the Iran-China trade cooperation conference. The Iranian ambassador to Beijing, Javad Mansouri, said Iran and China are expanding their bilateral relations. The one day seminar is participated by 400 Iranian and Chinese businessmen from both private and public sectors.
May 08, 2009 · Iran, China to expand private sector investment Joint conference will be kicked off on May 12 in Iran with the presence of 200 Chinese businessmen and bank directors and 400 Iranian merchants. In an interview with (ISNA), the Head of the Iran-China Chamber of Commerce Asadollah Asgaroladi said mutual trade cooperation totaled 28.4 billion dollars in 2008 and the amount is expected to hit 30 billion dollars in 2009 despite the oil price drop. · German companies urge Merkel gov't to unblock Iran trade The influential President of the Federation of German Mid-Size Companies Mario Ohoven said during a German-Iranian business meeting in Berlin his group would step up pressure on German decision-makers to end their blockade tactics over trade with Iran. He added that bilateral trade volume had a
potential of reaching 20 billion euros, if there was no interference by
the German government to slow down the growth of economic relations
between Tehran and Berlin.
Italy is still Iran’s first trading partner in EU as their commercial exchanges hit 6 billion euro in 2008, said the General Secretary for Iran and Italy chamber of commerce Pier Luigi d'Agata in Rome. Italy has been Iran’s first trading partner in Europe in 2008 while Germany has been the first importer to Iran, he told ISNA. Saying Italian investment in Iran was unchanged in 2008 compared to the past, he added, in 2009, in an appropriate international atmosphere capitals will be funneled to Iran whose economy has not been faltered by financial and banking crisis. He also explained considering the growing car manufacturing section of Iran, this section is of more attraction to Italian companies. The Italian Fiat company has started talks with Iran Khodro and it is expected that 2009 will be a decisive year for commence of their cooperation, he added.
Managing Director of the Islamic Republic of Iran Shipping Lines (IRISL) Mohammed Hossein Dajmar said Iran enjoys the greatest fleet in the Middle East, with 154 cargo ships and a good number of oil tankers. Dajmar also announced that Iran plans to add 16 other vessels to its fleet by mid-March and the shipping lines aims to ship 50 percent of the country's cargo in the future. IRISL and its subsidiaries carry a total cargo capacity of 5.29 million tons in Asia, Europe and Africa. Noting that Iran ranks 14th in the number of its commercial liners and oil tanker vessels in the world, Dajmar reiterated the number of cargo ships of the company has reached 154, from 138 during the year that ended on March 20. The IRISL's income was more than $1.6 billion in 2007, showing a 54 percent year-to-year increase.
May 05, 2009 · Iran, China to expand private sector investment Joint conference will be kicked off on May 12 in Iran with the presence of 200 Chinese businessmen and bank directors and 400 Iranian merchants. In an interview with (ISNA), the Head of the Iran-China Chamber of Commerce Asadollah Asgaroladi said mutual trade cooperation totaled 28.4 billion dollars in 2008 and the amount is expected to hit 30 billion dollars in 2009 despite the oil price drop.
April 17, 2009 · Iran, First Power in LNG: SHELL Shell and Repsol announced Iran would become world’s first power in liquefied natural gas in five years. · Iran Shipping Line Earns International Quality Award Iran shipping line has been awarded international quality award (QC100) from Business Initiative Directions for the year 2009. · Iran, First Power in LNG: SHELL Shell and Repsol announced Iran would become world’s first power in liquefied natural gas in five years. · Iran Shipping Line Earns International Quality Award Iran shipping line has earned international quality award (QC100) from Business Initiative Directions for the year 2009. · China Ready for Huge Investment in Hormozgan Chinese ambassador to Iran says Chinese investors are ready to invest in such different sectors as construction of oil refineries, steel, aluminum factories, property, and transport in Hormozgan province. · 60% of World’s Pistachios Export A research shows Iran has exported 60 percent of world’s pistachios between 2002 and 2006. Hong Kong, Spain, Italy and Russia are major importers of Iran’s pistachios. · US Auto Companies Offer Joint Ventures to Iran’s SAIPA Director General of Iran’s second major auto manufacturer says his company has received two major proposals from major US companies. · Mobile Penetration 100% in 5 Years Iran Telecommunications Company says the penetration of mobile phone will reach 100 percent in five years time.
April 09 2009 · Industries Investment Grows 90% in 2008 Minister of Industries and Mines says investment in the industries and mines sections has in the year 2008 grown 90 percent compared to the previous year. · Business Monitor: Foreign Currency Reserves Surpass US$ 100 billion by 2013 In its latest report, Business Monitor forecast Iran’s foreign currency reserves (excluding gold) would reach more than US$ 100 billion by the year 2013.
April 08, 2009 · 7 Rich New Oil Fields Discovered Director General of Iran National Oil Company announced its company has discovered seven new oil fields with high degree of reserves.
April 06, 2009 · Iran-EU Volume of Trade Over Euro 25 billion Volume of trade between Iran and the European Union for the year 2008 has grown 6 percent to 25.6 billion Euros. · Inter-banking Relationship Development Document Signed: Iran-Brazil For the first time, Iranian and Brazilian banking officials signed a cooperation document for inter-banking relationship in a joint commission in Brasilia in the present of the two countries’ foreign ministers. · Technical-Engineering Services Export Reaches US$ 2.5 billion Iran Trade Promotion Organization says the volume of contracts related to the export of technical and engineering services has grown 10 percent to around US$ 25 million last year.
April 06, 2009 · ILO Chairmanship for Iran Islamic Republic of Iran was elected as the Chair of International Labor Organization after 32 years. · Foreign Currency Reserves Reach US$ 100 billion In its latest report, the Central Bank of Iran has put its foreign currency reserves for up until December 2008 as at around US$ 100 billion. · The ICU: Iran Deposits at Foreign Banks, US$ 46 billion The International Clearing Union announced last week Iranian deposits at foreign banks reached US$ 46.7 billion at the end of the 3rd quarter of the year 2008. · 3 Percent Growth for Iran: IMF In its latest report, International Monetary Fund has forecast a 3 percent growth for Iran economy for the year 2009. This is despite world’s negative growth this year (-1.7). · Iran-US Joint Chamber of Commerce in the offing The Chairman of Iran Chamber of Commerce, Industries and Mines, Dr. Nahavandian, says Iranian and American private sectors are planning to jointly form Iran-US chamber of commerce soon. April 03, 2009 · Iran’s New Gas pipeline to Europe Iranian gas will find way to Europe through Iraq, Syria and Mediterranean Sea as a new option, Iranian Minister of Oil and Gas says. Visiting his Syrian counterpart in Damascus, Mr. Gholamreza Nowzari told reporters Iran would export its gas to Greece and Italy through Iraq, Syria and the Mediterranean Sea.
March 30, 2009 · To lift the US economy, lift sanctions on Iran “At a time when the United States is faced with its largest economic crisis since the Great Depression, why does the US government remain committed to being the world's most active user of economic sanctions?” writes Brian Early of Christian Science Monitor. He furthers: “Given the economic circumstances facing the country and President Obama's goal of mending the US image abroad, the US government must reevaluate its sanctions policies. In the research I have conducted on the international response to US economic sanctions, I've made several surprising discoveries about the effects the sanctions have on their targets' trade with other countries. In studying more than 100 cases of US-imposed sanctions from 1950-2000, I found that the United States' allies have consistently exploited the commercial opportunities created by US sanctions for their own benefit. US allies have tended to trade far more with the states it has sanctioned than other countries. Part of this is because the US has lots of commercially competitive allies. It is also because these states use their alliances with the US as political cover to shield their companies from American retaliation. In effect, this means that the US subsidizes the economies of its allies to the detriment of its own businesses. The US sanctions against Iran and Cuba illustrate this point well. Sanctions against Iran have forced American oil companies either to do their business elsewhere or give up their trade to foreign firms. It is not a coincidence that after Halliburton was scathingly rebuked by Congress for business dealings with Iran through its Dubai-based subsidiary that the company moved its entire headquarters to Dubai in 2007.” · 2nd Iran-made Car to Reveal Irankhodrow, of the World’s major manufacturer of automobiles, announced that Iran’s second national car will soon be revealed in the presence of the country’s high ranking officials. This indigenous achievement puts Iran-made automobiles among those with international standards. · Steel Production Capacity up 15% Deputy Minister of Industries and Mines for Mines and Mineral Industries says the country’s steel production capacity has reached over 15 million tons a year.
March 27, 2009 · Persian (Iranian) Carpets Glitter in Japan Precious Persian carpets have dazzled the Japanese and have opened a special place in their hearts, said the Head of Japanese Foreign Trade Organization at the opening ceremony of Iran’s great carpets exhibition in Tokyo. · Agricultural Exports Over US$ 1.980 billion For the first time in the Middle East region, Iran has been able to acquire the most unique petrochemical technology in the world i.e. to produce isocyanates, said Director General of Iran National Petrochemical Industries Company. · Far-sightedness Explains Swiss Energy Cooperation with Iran Iranian Minister of Oil says the Swiss government’s decision to enter long-term deal with Iran in gas sector is an indication of that country’s far-sightedness and is in line with both countries’ interests. · Iran, World’s Sixth in Citrus Fruits Production Iran is the world’s 6th in the production of citrus fruits with the capacity of 4 million and 500 thousand tons. · Iran-Russia Ink Energy MoU A memorandum of understanding was signed between Iran and Russia on joint energy cooperation. · Bank Mellat IPO, A Probability In an interview with DowJones, Director General of Iran’s Bank Mellat said there was a possibility that 20 percent of his Bank’s shares to be offered to foreign investors. · Iran Self-sufficient in Culture Medium Iranian researchers have succeeded in mass producing culture medium for medicine to the point of self-sufficiency in the country for the first time. Iran, 19th in Entrepreneurship Social Security and Labor Institute President says Iran is currently 19th among 43 member countries in International Labor Organization in terms of entrepreneurship. · Iran Industrial Competitiveness Index Up 13 Steps In its latest report, UNIDO has placed Iran as 85th among 122 countries for its industrial competitiveness index, an improvement of 13 steps. · Iran-China Trade Over US$ 27 billion A member of Iran China Chamber of Commerce says latest trade figures from Chinese officials put the volume of trade between the two countries as at US$ 27 billion and six hundred twenty three for the year 2008. · Economist: Iran GDP to Grow 2.4 times In its latest report, Economist has announced Iran’s GDP will grow more than US$ 18 billion in 2009 and will continue its growth to 2.4 times by 2013. · Iran to become Production and Distribution Hub for Ferroalloys Director General of Iran’s Mineral Materials Company says Iran can turn into a hub for production and distribution of ferroalloys in the Middle East region now that it has attained the technology to do so. · Iran Import and Export Figures In its latest report, Iran’s Customs Department has released the country’s import and export figures as US$ 16 billion and 512 million and 97 thousand (non-oil) and US$ 51 billion and 496 million and 66 thousand respectively as March 21, 2008 to February 21, 2009. · Turkish Transport Sec: Tehran-Istanbul Container Train to Hit World Gateways Turkish Secretary for Transport says his country attaches great importance to Islamabad-Tehran-Istanbul Container Train project and is of the opinion that it is in line with world’s geographical path. · Iran-Russia Ink Energy MoU A memorandum of understanding was signed between Iran and Russia on joint energy cooperation. · World’s Second Tourist Destination Invests in Mashhad The Spanish Ambassador to Tehran and Governor of Mashhad Province signed a memorandum of understanding for joint investment in the province with Spanish Prointech and Shandiz of Iran are the frontline companies. · Western Oil Companies Seizing Opportunity Business Monitor referring to the interest by an oil company in geological information on Iran and the softening of US stance on vis-à-vis Iran reported that Western oil companies are seizing the opportunities to return to Iran. · Iran and Islamic Development Bank Ink MoU Iran Exchange and Securities Organization and Islamic Development bank signed a cooperation agreement prior to the opening of ECO Ministerial Council Summit. · Islamic Countries Investment Conference in Tehran The Third Islamic Countries’ Investment and Privatization Conference is to be held in Tehran as of April 28 to 30, 2009. · Iran, China Ink Euro-3-billion Gas Deal Holy Prophet Gas Company of Iran has signed a gas deal worth 2 billion 629 million Euros with a consortium of Chinese companies. · South Pars Phases 9 & 10 Operational Iranian President Dr. Ahmadinejad opened completed phases 9 and 10 of South Pars gas field. · Tehran-Ankara Trade Removes Euro-Dollar Currencies Turkish Minister of Trade says his country will continue its trade with Iran in Lire currency soon. · Iran Reserves Oil in China Iran National Oil Company International Division Manager says his company is planning to increase its export to China. Also among the plan is the increase in the oil reserves in China.
March 16, 2009 · Methanol Marjan Contract Inked Danish Thompso and Marjan Petrochemicals signed an agreement to construct Marjan Methanol Producing Unit in Assalouyeh with the annual capacity of 650 thousand tons. · Iran the Only Producer of Isocyanates in the Middle East For the first time in the Middle East region, Iran has been able to acquire the most unique petrochemical technology in the world i.e. to produce isocyanates, said Director General of Iran National Petrochemical Industries Company. · Iran to Host IT Symposim in April International symposim on Information Technology will be held as of May 11 to 14, 2009 in Persian Gulf’s Kish Island. The event is co-sponsored by IFIP of UNESCO. · Russia Seeks Iran Oil in Saint Petersburg Russian Minister of Oil has proposed to Iran to sell its crude oil in Saint Petersburg as a means to diversify its consumer market. · Islamic Development Bank Capital Up 800 million Euros A member of Economic Committee at Iranian Parliament said the committee has voted for the 800 million Euros increase in the Islamic Development Bank capital.
March 12, 2009 · Power Generation Capacity Grows 653% Tavanir Power Company Managing Director says the capacity of the country’s power plants has grown 635 percent since the victory of the Islamic Revolution of Iran in 1979. · US$ 21 billion Exports The Head of Iran’s Department of Customs says more than 21 billion US dollars of goods have been exported, an 11 percent rise compared to those of last year. · Economist: More Direct Foreign Investment in Iran In its month of January report, Economist predicts 900 million dollar foreign direct investment will be made in Iran during the year 2009 and it is expected to grow further in the following years. · International Financial Institutions’ Silence, Deafening Governor of Iran’s Central Bank criticized the deafening silence by world’s financial institutions on some of super powers for injecting huge amount of money into their economies. Speaking at the Joint Session of IMF and World Bank leaders in Algeria, Mr. Bahmani called for a real solution to the problem. · BMI Reports on Interests in Iran Mobile Market Business Monitor International has reported on an increasing interest by overseas investors in Iran’s mobile telephone market. The report further adds this huge interest come in the face of US sanctions on the country. · Chinese Firms Can Build Low-Cost Housing Iranian Minister of Housing and Urban Development says his country is prepared to grant land to Chinese property developers to build low-cost housing units in Iran. · Islamic Finance, Solution to World Financial Meltdown Vatican official newspaper, in its March issue, has enumerated some of the unique attributes of Islamic banking system, suggesting it as a means to fight the world’s current financial crisis. · Chinese Oil Import from Iran Up 50% Despite an 11 percent decrease in oil import to China in the first month of 2009, the country has increased its import of crude from Iran 50 percent. · Foreign Investment Registration in Bourse of Iran Director General of Foreign Investment Office says foreign investors are no longer barred from registering at Tehran Stock Exchange with new regulations that put the ownership as at 51-49 percentage basis. · Business Monitor: Auto Production Up 16.5% by 2013 In its latest report, Business Monitor forecast a 16.5 percent export-directed growth, in auto production in Iran by 2013.
March 04, 2009 · More than US$ 12 billion Industrial, Mineral Goods Exported Iran has exported more than US$ 12 billion industrial and mineral products since March 21, 2008. The figure is exclusive of the revenues from gas condensates. · South-South International Cooperation Center to Establish Iranian Cabinet authorized relevant organizations to establish South-South International Cooperation Center in collaboration of United Nations Industrial Development Organization (UNIDO) in Iran. The motion had been presented by the Ministry of Industries and Mines. · Persian Gulf Qeshm Island Attracts US$ 3.7 billion Foreign Investment Advisor to the Minister of Commerce says Qeshm Free Trade Zone Pilot Scheme has attracted three billion and seven hundred million US dollars from both foreign and local investors over the past 2 years. · US$ 70 billion Oil Revenues Deputy Minister of Oil says the revenues from Iran’s crude oil stand at US$ 70 million from the beginning of the Persian Calendar (March 21, 2008), an increase of US$ 2 billion compared to that of the previous year. · Iranian Autos Hit Arabian Markets Minister of Industries of Syria says his country will jointly manufacture automobiles with Iran soon. IranKhodrow, Iran’s leading manufacturer, is to open a new phase of its manufacturing arm in Syria with the aim of exporting 40 percent of its products to Arabian markets.
February 27, 2009 · Schroder Visit to Tehran, A New Beginning: German Ambassador to Tehran German ex-Chancellor’s recent visit was hailed by the Ambassador to Tehran as a new beginning in the trade ties between the two sides which has already seen a growth of 10 percent in 2009 compared to the previous year. Speaking at Iran Germany Chamber of Commerce in Tehran, Mr. Herbert called the visit as positive. During the visit, Mr. Gerhard Schroder met with top level Government officials as well as with business people and called for trade links without political barriers. · 14th International Oil, Gas and Petrochemicals Exhibition, Iran 14th International Oil, Gas and Petrochemicals Expo is to be held in April in Tehran. It is expected to receive a patronage of 800 local companies and more than 520 overseas corporations from 35 countries. · Iran Services Export Ranking Up 17 points WTO 2007 report puts Iran services export ranking at 20, up 17 points compared to the year 2000 with the total value of US$ 2 billion and 70 million. · Persian (Iranian) Carpets Not Affected by Int’l Financial Tsunami The first 9 months of the Persian Calendar year (March 21) has seen a 5 percent rise in the export of Persian (Iranian) carpets with the value of US$ 310 million. The figure is expected to grow to US$ 400 million by March 20, 2009. · Iran Scientific Standings in 24 Fields Here are Iran’s scientific standings in 24 fields in the world as follows: Oil Engineering (8), Tropical Medicine (9), Textile (9), Chemistry (11), Thermodynamics (12), Applied Mathematics (13), Geology (13), Polymer (14), Chemical Engineering (15), Physics (15), Mechanics (15), Nuclear Engineering (15), Mathematics (15), Civil Engineering (17), Veterinary Medicine (19), Agriculture (18), Nanotechnology (20), … · MoU Signed with Foreign Consortium to Finance South Pars · Director General of Iran’s Pars Oil and Gas Company says Iran has signed a memorandum of understanding worth of around 4 billion Euros with 3 Asian and European countries to develop South Pars Phase 17 and 18 · 6 Iranian Companies among Top 100 Big Islamic Firms Dinar Standard Institute has put Iran among top 100 big Islamic firms with Iran National Oil Company as at the second with the capital of US$ 101 billion in their 2009 report. · Improvement in International Ranking in Basic Metals Production Deputy Minister of Industries and Mines says Iran’s standing in the world in the production of such basic metals as raw steel, aluminum and copper has respectively improved to 18 from 20, 22 from 25, and to 18 from 21. · 31.8% Growth in Iran Goods Stock Exchange Transactions The value and volume of transactions at Iran’s Goods Stock Exchanges in the month of February has witnessed have witnessed a 31.8 percent and 17.7 percent respectively. · Joint Bank with Syria in Iran Speaking on the sidelines of Iran-Syria Economic Cooperation Joint Commission Summit, Syrian Minister of Economics and Trade said his government has given a green light to jointly form an Iranian-Syrian Bank. The move is expected to further grow the current US$ 274 million trade volume between the two sides. · Iran Euro 250 million Investment in Nicaragua Iranian Ambassador to Nicaragua says his country is planning to invest 250 million Euros in energy and agricultural sectors in the country which include construction of dams, an hydroelectric project and development of the agriculture sector. · Europe Export to Iran Growing Trend Despite Sanctions Statistics released by Reuters show German and French exports to Iran on a growing path in the year 2008. Germany has in the same year exported goods worth of 3.92 billion Euros. French exporters have also exported more than 1.5 billion Euros worth of goods in 2009 to Iran. · Russia, Iran’s Secure Partner New Chairman of Iran-Russia Council of Commerce called Iran as Russia’s reliable and important trading partner and said the economic and trade relations between the two sides are expanding even further. · Bank Melli Branches in 16 New Countries A Board member of Iran Bank Melli says his bank is conducting feasibility study to open new branches in 16 countries. · Iran-US Trade Up 2.5% in 2008 US Statistics Bureau put Iran-US trade transactions as at US$ 785 million in 2008, a 2.5 percent increase compared to the year 2008.
February 20, 2009 · Iran Scientific Ranking, 25th Deputy for Science and Technology to Iranian President says thanks to producing 14 thousand papers, Iran has improved its scientific standing as the 25th in the world. · Iron Ore Capacity to reach 25 million tons Iranian President officiated a project with the aim of increasing the production capacity of Chadermlo mine to 1.7 million tons of high grade iron ore concentrate. This project will bring the production capacity of the iron ore in the country to 25 million tons by March 21, 2009 (Persian New Year, Norooz), a 10 percent increase. · Foreign Investors Interest in Bank Mellat Shares Director General of Iran Bank Mellat says foreign investors have expressed interest in purchasing the bank’s shares in the form of blocks. · More than US$ 2.5 Billion Technical & Engineering Services Exported Caretaker of Trade Promotion Organization of Iran Expansion of Services Bureau says technical & engineering services’ export has exceeded US$ 2.5 billion as of March 2008 to February 2009. · Transit International Routie First Ever Workshop in Iran The Transit International Routier convened its first workshop in Iran in the presence of the high-ranking members of International Transit Association in Tehran. · MEED: Iran, a Cargo Transit Route MEED reported on Iran’s efforts at becoming a cargo transit bridge between the Persian Gulf and the Caspian Sea by seeking to invest US$ 1.2 billion to renovate its port this year. · Indian Company after Iran Zinc Mines Dowjones reported that India’s second biggest producer of zinc has expressed its intention to purchase a few zinc mines in Iran and Australia. · US$ 61 billion Oil Contract over 18 months Braving the sanctions, Iran has been able to sign several agreements with net worth of US$ 61 billion dollars to develop its oil and gas fields over the past 18 months. · US$ 11 billion Petrochemical Products will Sell Despite the world financial meltdown and a decrease in the international prices of the petrochemical products, Iran will export near US$ 11 billion by March 21, 2009, said the Deputy Minister of Oil. · MEED: Middle East Petrochemical Companies Highly Competitive MEED reported on the competitiveness enjoyed by the petrochemical companies in the Persian Gulf region because of having cheap energy at their disposal, compared to their Western counterparts. · Improvement in International Ranking in Basic Metals Production Deputy Minister of Industries and Mines says Iran’s standing in the world in the production of such basic metals as raw steel, aluminum and copper has respectively improved to 18 from 20, 22 from 25, and to 18 from 21. · Iran to Build Factory Iran is investing US$ 81 million to build steel producing factory with the production capacity of 500 thousand tons in the neighboring country of Iraq. · Oil and Gas to Last for the next 67 and 217 years Recent studies show Iran will continue its production of oil for the next 67 years and of gas for the next 217 years, said Deputy Minister of Oil for Human Resources Development and Research. With more than 10 percent of the world’s oil reserves and 17 percent of the world’s gas reserves, Iran is only second to Saudi Arabia in terms of oil export. · Banker Ranking of World’s Banks In its 2007 ranking of world’s top banks, The Banker has moved up Iran’s Bank Sepah to rank 9 in the world, a 370-rank improvement. The improvement is as a result of the recent accumulation of the huge reserves. · Iran-UK Traders Exchange Views Mr. Martin Johnston, Director General of Iran-UK Chamber of Commerce says despite the existing challenges in banking connections between the two sides, the bilateral trend continues on its steady path with one percent rise in the volume of trade between the two countries in the year 2008. · Italian Eni Braves US Pressures Director General of Eni, Italian Oil Giant, says his company will continue its normal business with Iran despite US pressures. · 23 million Internet Users in Iran According to the Internet World State website has ranked Iran as the first country in the Middle East in terms of the largest number of internet surfers at 23 million. · Iran & Malaysia Ink Oilfield Development Contract General Manager of Iran Falat Ghareh Oil Company says his company will soon sign a contract with a Malaysian company to develop Esfandyar oilfield. By completion of the first phase of the oilfield it is expected to produce 10 thousand barrels of oil per day. · Total, Shell vying for Shares in South Pars French Total and Shell have requested Iran to increase their share in phases 11, 13 and 14 of South Pars projects, announced Iranian Minister of Oil. · World Bank to UN: Loan to Iran, Lawful In a letter to the UN Legal Council, the World Bank General Council has made the case for its approval of appropriation of loan to Iran discounting it would violate the UNSC sanctions. · Turkey to Invest US$ 2.5 billion in Iran Turkish Minister of Foreign Trade announced his country would invest US$ 2.5 billion in trade sector in Iran. · United Press: Iran to co-develop Azerbaijan Republic Gas Field United Press quoted Iranian officials as saying they were proposing US$ 1.7 project to develop the second phase of Shah Deniz gas field in the Republic of Azerbaijan. · Kish Island Gas Field Receives US$ 10 billion Investment from Oman An informed source at Oman Government said the country is planning a 10-billion investment in the Persian Gulf Kish Island for the development of the Kish Gas Field. · Iran Oil Sale to India Triples A newly signed oil agreement between Iran and India has tripled the oil export from Iran to the country for the year 2009. · Jam, World Largest Petrochemical Complex Opens in Persian Gulf Asalouyeh Iran opened the world’s largest petrochemical complex, Jam, in Asalouyeh south of Iran. The project was carried out by Technip of France, Croup Udeh of Germany, Monett of Italy and Sazeh from Iran.
January 16, 2009 · Miniature to Hit Market Mid 2009 Saipa, one of Iran’s leading automakers, announced the pre-sale of its new “Miniature” cars this month. They will hit the market in the middle of 2009. · Central Bank Issues Foreign Currency Deposit Certificate To attract overseas investors to invest in Iran, Central Bank of the Islamic Republic of Iran will issue foreign currency deposit certificates. · Iranian Economy Ranking Up 12 Points In its 2008 report, US Research Institute, Fraser, has placed Iran’s economic freedom as at 80 among 141 economies, 12 ranks up compared to its previous ranking. · Iran Exports 15% of World Petrochemicals In its forecast for until 2012, MEED puts Iran’s share of petrochemical exports at 15 percent. · 400K Barrels of Oil to China In line with increasing oil import from Iran, China plans to even expand its import of crude from the country in the year 2009 to 400 thousand barrels of oil per day. · Iran Self-Sufficient in Steel MEED reported on Iran’s huge reserves of gas and iron ore adding Iran as the only country in the Middle East region with the capacity to reach self-sufficiency in production of steel. · Iran-Russia-Qatar Gas Swap Iran’s Representative at OPEC said negotiations will soon kick off for the Iran-Russia-Qatar gas swap. · China to Develop North Azadegan Oil Field Iran National Oil Company signed an agreement with National Oil Company of China to develop Iran’s North Azadegan Oil Field. · Iran Receives Third Ocean Liner Third of the four china-made ocean liners was delivered to Iran by the Chinese authorities in a ceremony attended by representatives of both countries in Nanjing Port, China. · More Conducive Conditions for Malaysian Investors The Advisor to Iranian President for Special Economic Zones in a meeting with the Malaysian ambassador said more favorable conditions were being worked out to attract Malaysian investors. · Iran-South Korea Joint Tourism Investment Visiting Iranian Vice President for Tourism, Handicrafts and Cultural Heritage met with South Korean Prime Minister during which a memorandum of understanding was signed to jointly invest on tourism projects.
January 12, 2009 · Chinese Firm and Iran Mobile Communications Chinese firm, HOWAI, is cooperating with Iranian mobile communication in carrying out OCS, the Hamrah-avval (First Mobile Operator) billing project. · Iran-Europe Bank Defies US Sanctions Chief Executive of Iran-Europe Bank talked about his bank’s success at the international stage and provision of services beyond expectations. · A 222% Increase in US Export to Iran While China is Iran’s third trade partner, preceded by UAE and Germany, the United States has increased its export 222 percent in since March 21, 2008 (Persian Calendar). · Industrial and Mineral Exports Up 39 Percent Deputy Minister of Industries and Mines says Iran has exported more than US$ 11.276 billion worth of mineral and industrial product since April 2008.
January 08, 2009 · Bourse of Iran, Most Resistant Investment Market Iran Stock Exchange has continued its resistance against the world financial crisis and has witnessed the least decline in growth in the world. · Iran-Oman Ink MoU Presidents of Iran and Oman Stock Exchanges have signed in Masqat a Memorandum of Understanding on expansion of cooperation between the two sides. · Non-Oil Export to Reach US$ 14 billion Iran non-oil exports save for gas condensates for the 9 months of the Persian Calendar (March 21, 2008) have increased 22 percent, i. e. US$ 13.992 billion. · Iran GDP, A 5-Digit Figure Recent UN report on human development shows Iran GDP has passed US$ 10000 mark. · IDRO Products 880K Iranian car manufacturer, IDRO, has produced more than 880 thousands various automobiles during the 9 months of the Persian Calendar (March 21, 2008).
January 02, 2009 · Iran to have Good Presence at Shanghai Expo 2010 The visiting Deputy Foreign Minister for Asia and Oceanic Affairs, Mohammad Akhoondzadeh said here in Shanghai that Iran will have a very good presence at the Shanghai Expo 2010. · Financial Meltdown Felt in Persian Gulf MEED reported on the halt on many of the oil and gas projects in the south of the Persian Gulf due to the world’s financial crisis. · Gasprom Willing to Invest in Iran Russian Gasprom reiterated its willingness to invest in development of oil and gas reserves in Iran. · World Bank: Iran, Big on Poverty Fight In its latest report, World Bank has stressed out Iran’s great achievements in fighting poverty, improving hygiene in poverty-stricken regions and life expectancy among young adults. · Davos Can Be Held in Iran, Regional Director General Says Sharif alDivani, regional Director General of Davos Economic Forum said Iran may host the regional summit through its support.
December 29, 2008 · Persian Gulf Qeshm Attracts US$ 5.1 billion Director General of Qeshm Free Trade Zone says the Persian Gulf Island has since 2006 attracted US$ 5.1 billion of foreign and domestic investment. · Iran Human Development Index Up 10 ranks Latest UN report on Human Development Index puts Iran at 84th among 179 countries, 10 ranks higher than the previous report, an indicative of improvement in such areas as life expectancy, poverty and level of education. · Iran First Ever Dates Council Iran Chamber of Trade, Industries, and Mines formed the first ever Council of Dates comprising date-rich cities of Iran such as Bandar Abbas, Abadan, Khorramshahr, Zahedan, Kerman. · US$ 100 billion Foreign Currency Reserves International Monetary Fund puts Iran’s foreign currency reserves as at more than US$ 100 billion by March 21, 2009. · Davos Told to Identify the Root Causes of Financial Crisis In a meeting with Regional Director General of Davos World Economic Forum, Iranian Foreign Minister called for identification of the root causes of today’s world financial meltdown. For his part, the Director General of DWEF appreciated Iran’s participation in last year’s event and called for more take by Iran in their upcoming forum. · Malaysian Investment on Benzene Production in Iran Director General of National Oil Refinery and By-Products said his company is currently in negotiations with a Malaysian company to develop a refinery in Iran to produce benzene in the Persian Gulf region with daily production of 35 million liters of benzene.
December 19, 2008 · Hong Kong Trade Development Council Visit to Iran, A Success A trade delegation from Hong Kong Trade Development Council led by Dr. David Wong, a ranking member and 22 Hong Kong businesspeople in such various sectors as industry, trade and services visited Iran as of December 19 to 22, 2008. During their stay in Iran, they met with officials at Iran Trade Promotion Organization, Iran-China Trade Chamber of Commerce, Iran Chamber of Trade, Industries and Mines and those of the Ministry of Oil and exchanged views on ways to expand trade, economic and investment cooperation between the two sides. The delegates also participated in a seminar dubbed as “Hong Kong, Your Gateway to Mainland China” along with representatives from more than 200 Iranian companies. In his speech to the Seminar, Dr. Wong elaborated on the advantages of trade with Hong Kong. For their part, Chairmen of trade chambers in Iran also briefed the visiting delegation on the investment and trade opportunities in Iran. Talks on direct trade between Hong Kong and Iran were other highlights of the visit. A side trip to Iran’s South Pars in the Persian Gulf was also made by the delegates where they got updated on the investment opportunities in oil and gas sectors and the Hong Kong delegation expressed interest to consider investment projects in the region in the future. · New Street Times: Bank Mellat Opens Branch in Malaysia Malaysian paper, New Street Times, reported Iranian Bank Mellat was planning to open a branch in Labuan, the country’s financial center. · Iran-Armenia Oil Pipeline Armenian Minister of Energy announced Iran-Armenia Oil Pipeline would kick off in the summer of 2009 in a length of 300 kilometers. · Biggest Rail Investment Project The first phase of Iran Khodrow Rail Industry Factory (the biggest investment project of such) started operation last week. Once operation, this industrial unit is able to produce 200 rail wagons (rail bus, metro wagon, monorail wagon, etc.) annually. · Gas Cartel Born Russian Minister of Energy concluded the Gas Exporting Countries Summit by announcing the formation of Gas Cartel called, “Gas Exporting Countries Forum”. · Iran Oil and Gas Sectors Attract US$ 25 billion Iranian Minister of Oil says the oil and gas sector has attracted US$ 25 billion during the current Persian Calendar Year (March 21, 2008 onward). US$ 20 billion of such figure comes from direct foreign investment.
December 16, 2008 · Iran Industrial Exports to Italy Italy signed an agreement with Iran to import Iranian manufactured gas industrial products. In the first phase of the agreement 50000 of such products with a net value of 3.5 million Euros will be exported to Italy. Iranian Bootan is the world’s 3rd in the production of wall water-heaters. · Iran Produces More than 64% of World’s Saffron The head of Saffron Export Development Fund says Iran produces more than 64 percent of the world’s saffron comprising 80 percent of Spanish and UAE re-export of the goods. · Economist: Iran Foreign Currency Reserves US$ 96 billion In its recent revision of estimates, Economist predicted save for gold, Iran will have an increase of US$ 14 billion in its foreign currency reserves totaling US$ 96 billion and 309 million during the current year. · Iranian Company Wins Innovation Award GAIA 2008 recognized an Iranian company, Superpipe, as the best innovative company among 2900 companies from 130 countries. This year’s GAIA ceremony was held in this tiny Persian Gulf port city of Dubai.
December 15, 2008 · German Companies Criticize US Hypocrisy German business owners have vented their anger at the US for acting hypocritically when it comes to sanctions on Iran. They claim while US pressures German enterprises to stay out of Iran, the American companies are increasing their presence in the country. · More Privatization Coming Head of Iran’s Privatization Organization says 3 state banks are up for grabs for privatization and they will soon be ready for public distrubtion. · Europe in Investment Negotiations on Pars Pipeline Director General of Iran National Gas Export Company says European countries are negotiating to invest on Pars Gas Pipeline to the Continent from Iran. · World Heritage Certificate for Takht-e-Jamshid (Persepolis) UNESCO awarded the world heritage certificate to Takh-e-Jamshid (Perspolis) marking Iran’s 60th anniversary of joining the United Nations Educational, Scientific and Cultural Organization.
December 12, 2008 · Iran and Australia to Co-Construct Zinc Factory Iranian Mineral Production Company and Australian “Union Reserves” have agreed to build Zinc Factory with a capacity of 300 thousand tons. · Bourse of Tehran, World’s Third International Federation of Stock Exchanges has classified Bourse of Tehran as the 3rd least affected by the financial meltdown in the world. · Russia Bidding for Whole Chunk of Azadegan Oil Field Gasprom of Russia has put forward a proposal to develop the whole chunk of Azadegan oil Field, both south and north parts of the oil field. · South Pars Phase 10 Nearly Operational Iranian Minister of Oil said phase 10 of South Pars is nearing completion with rows 9 and 10 soon to be injected sour gas. · Iran Overseas Bank Deposits over US$ 43 billion International Settlements Bank put Iran’s overseas bank deposits as at US$ 43.2 billion in 3rd quarter of 2008. · Iran-Japan Agricultural Cooperation Agreement Iran and Japan signed a joint cooperation agreement to develop two agricultural projects. The GGP agreement was signed between Mrs. Daniali of Agriculture Ministry and her Japanese counterpart. · Iran-UNIDO Agreement on Continuation of Cooperation By signing a joint communiqué Iran and United Nations Industrial Development Organization (UNIDO) stressed on the continuation of and support for South-South projects.
December 05, 2008 · US$ 420 billion Export of Persian Carpets General Director of Iran Carpets Company predicts a 10 percent rise in the export of Persian carpets compared to last year’s figure. · 39 percent Rise in Industrial & Mineral Products Deputy Minister of Industries and Mines for Human Resources Development said during the first half of the Persian Calendar (March 21), export of industrial and mineral products have grown 39 percent. · 4.5 million tons of South Pars Petrochemical Products Exported General Director of Petrochemical Reserves and Terminals said 4.5 million tons of petrochemical products have been exported from South Pars Special Economic Zone. · Iran Economic Trade at US$ 140 billion Minister of Commerce says the volume of trade between Iran and other countries stood at US$ 140 billion in both oil-related and non-oil sectors. · Iran to Invest US$ 16 billion in Oil and Gas by March 2009 Deputy Minister of Oil says Iranian government has allocated more than US$ 16 billion for oil and gas projects by March 2009. · US$ 30 billion Oil and Gas Deal Signed General Director of National Iranian Oil Company says Iran has signed a US$ 30 billion oil and gas deal in the past 8 months to develop such oil fields as Yadavaran, Masjed Soleiman, Jofeir, Deir, Reshadat, Golshan, Ferdows, Resalat. · Oil Daily: Iran Exports 35 billion cm of Gas to Europe Daily Oil reported on Iran and Turkey cooperation agreement on export of 35 billion cubic meters of natural gas from Iran to Europe calling the deal beneficial to the Continent. · Iran, 10th in OPEC In its latest report US Energy Information Administration announced that during the 10 months of 2008, Iran has been ranked 10th among 13 members of OPEC in terms of oil revenues at US$ 75 billion. · Iran-Malaysia Oil Refinery Construction Deal Iranian Hampa and L One Reserves of Malaysia signed an agreement to jointly construct a Petrochemical and Refinery Complex in Malaysia. The deal is estimated to worth 5 billion Euros. · Persian Pipeline Replaces Nobaco Deputy Ministry of Oil said Persian Pipeline is to replace Nobaco pipeline for export of gas to Europe. The length of the pipeline is 3300 kilometers and it is estimated to cost US$ 6 billion. · Auto Parts to 39 Countries Minister of Industries and Mines said Iranian made auto parts are currently exported to more than 39 countries. · Foreign Currency Reserves Over US$ 80 billion Deputy Governor of Central Bank of Iran says the country’s current currency reserves has reached over US$ 80 billion and it is expected to meet the next year’s demands. · Senegal to Manufacture Iranian Samand Minister of Industries and Mines heralded that Samand production line will open soon in Senegal. · Iran, Malaysia Sign 3 Oil and Gas MoUs Iran and Malaysia signed 3 memoranda of understanding on oil and gas during the visit to Tehran by former Prime Minister Mahatir Mohammad. Framework Agreement, Project Development Agreement and Gas Sales and Purchase Agreement were among the three MoUs signed.
November 11, 2008 · Iranian Researcher On Brilliant 10 Dr. Ali Yazdani is among the top ten researchers and best minds in the year 2008 known as Brilliant 10. The list is formed based on the recommendations by University chancellors across the globe. · New Round of Talks on Gas – Iran, Russia and Qatar General Director of National Iranian Gas Export Company says a new round of trilateral talks between Iran, Russia and Qatar will open next week with the main focus on forming a technical committee. · Iran No. 10 in Mines Deputy Minister of Industries and Mines says Iran is one of most resourceful countries in the area of minerals (among top 10 countries) in the world. There are 68 kinds of minerals and virtually 37 billion tons of proven reserves and more than 57 billion tons of likely reserves. · New Applications for Foreign Banks in Iran World financial meltdown has prepared the grounds for Western banks to open branches in Iran, Deputy Minister of Economic Affairs and Finance says. He further adds over the past few months several application have been submitted by international banks to open branches in Iran. · Caviar Fish Harvest Ponds to Open in Northern Iran Head of Fisheries Organization says caviar fish harvest ponds will soon open in the littoral provinces of the Caspian Sea. This comes, he adds, to increase reproduction of caviar fish in the sea. This news comes on the heels of the announcement made by the Organization regarding the setting up of a genes bank to restore and preserve the caviar fish. · Chinese Minister of Commerce Visits Iran 13th Joint Iran-China Economic Commission was convened in Tehran this Saturday in the presence of visiting Chinese Minister of Commerce. He is leading a trade delegation in Tehran. · Iran to Host International Islamic Finance Conference Head of Research Department at Iran Stock Exchange said an international Islamic Finance Conference will be held in the presence of foreign experts and scholars come December 2008 during which his department’s fiqh breakthroughs will be manifested. · International Energy Agency: Era of Cheap Oil No More In a latest report, International Energy Agency has indicated the era of cheap energy is history predicting the price of oil as of 2008 to 2015 as at 100 US dollars. The Agency further predicts that oil prices may hit 200 dollars by 2030. · Two Iranian Researchers Co-author Book on Primary Immune Deficiency Disorders Two prominent researchers at Medical Sciences University of Tehran in collaboration with Italian Doctor Notar have co-authored a book titled “Primary Immune Deficiency Disorders” which will be introduced as a reference book soon.
November 06, 2008 · Iran Hosts Halal Food Expo Iran Trade Promotion Organization says Iran will host “Halal Food Expo 2009” in February 2009. More than 160 companies from different countries have so far confirmed their attendance. According to TPO “Halal” brand is not only a religious sign but also an indicator of food health and is considered as an international standard for food. It is not limited to the Islamic countries rather it is becoming widespread across the globe. The value of food branded “Halal” for the year 2007 is at 150 billion dollars and it is expected to reach 500 billion by 2010. More info can be found at: http://www.halalworld.org/html/index.php?newlang=eng · Iran’s Export to Iraq to Reach US$ 4 billion Head of Iran-Iraq Economic Development Committee says Iran’s exports to Iraq stood at US$ 2 billion and 800 million last year and it is expected to reach US$ 4 billion in 4 years. · Iranian Invents Marine Garbage-collector For the first time ever, an Iranian student has devised a machine that is able to collect garbage at sea bed in this northwestern city of Sarab, Iran. · Iran-China Trade Value to Reach US$ 25 billion by Year’s End Deputy Minister of Commerce says the volume of trade between Iran and China will reach US$ 25 billion this year adding further that Iranian city of Mashad and Urumchi of China will sign a sisterhood agreement soon and will consider establishing direct flights. · Strongest Metal Foam Built by Iranian Researcher Prominent Iranian researcher at North Carolina University Ms. Afsaneh Rabiyi has designed metal foam which is both light and unbelievably strong with various applications in such different sectors as industries, military and biomedicine.
November 03, 2008 · Iran Major Exporter of Cement Iranian Deputy Minister of Industries says Iran as of next year will become a major exporter of cement in the world. · Third Major Importer in MIDEAST: IMF International Monetary Fund reports show the value of imports to Iran in the current year will reach US$ 86 billion and 400 million, a 14 billion and 500 million dollars rise compared to last year’s. · Iran-USA Volume of Trade Based on the statistics released by US Statistics Bureau, US-Iran volume of trade in the 8 months of the year 2008 has reached US$ 309.7 million. US exports to Iran in August has been reported as 137.5 million, a quadruple rise compared to the figures in July. · Iran up 35 ranks in Nanotechnology in the World The Head of Iran Nanotechnology Institute says Iran has earned itself the 25th place among the world’s nations with first place among Islamic countries. Iran’s place in 2000 was 60th. Over the last 7 years more than one thousand and one hundred scientific papers by Iranian scientists have been published in this regards. · MEED: Financial Crisis Opportunity for Islamic Finance MEED has published an article in which a pressing case has been made for the Islamic Finance as an alternative to the capitalism, especially when the world’s financial system is in disarray. The Middle East economic growth is expected to be higher than that of Europe and US, despite the fact it has been tamed because of the financial crisis. · Kish, A Thriving Persian Gulf Island Economic indicators in the Persian Gulf’s Kish Island are all strong. In the high-tech industrial products in biology sector, export of prosthetic bones and export of herbs great strides have been taken. As a free trade zone, Kish Island laws are unique to mainland Iran and there are many great opportunities for investment. · US$ 3 Billion Gas-Oil Bid MEED reported on a US$ 3 million tender for 7 of Iran’s oil and gas fields in Iran. It quoted Iran Central Oil Fields Company, a subsidiary of National Iranian Oil Company as announcing five gas fields are offered for tender including Gordan with total value of 555 million, Assalouyeh of 1.1 billion, Mokhtar of 500 million, Selkh of 225 million and Kabir Kouh with the value of 465 million dollars.
October 29, 2008 · Russia Urges Formation of Gas Troika Director General of Russian Gasprom says a big gas troika comprising Iran, Russia and Qatar can form an organization in come November, adding further groundwork have been prepared that will be discussed during the upcoming summit meeting in Moscow. The idea was suggested by Ayatollah Khamenei, Iranian Supreme Leader in February 2006 in his meeting with Russian Security Council Secretary. · IMF: Iran Export Value 3rd in Middle East and Central Asia The value of Iranian exports in the current year will reach US$ 127 billion and 600 million, a considerable increase from last year’s US$ 99 billion and 100 million, which puts Iran at 3rd place among 30 countries in the Middle East and Central Asia, International Monetary Fund reported. · Organic Produce Exports to Europe Ministry of Agriculture announced organic Iranian pomegranates are currently exported to the European countries. · Foreign Currency Revenues Reach US$ 60 billion Minister of Economy and Financial Affairs says Iran’s foreign currency reserves as at around US$ 60 billion. · Iran Investment Return 33 Percent Deputy Head of Iran’s Cultural Heritage and Tourism says best investment opportunities with 33 percent investment return are there for Irish investors, adding further such opportunities do not exist even in Ireland itself. · 6 Banks Insurance Companies up for Privatization Deputy Minister of Economy and Financial Affairs says 6 banks and insurance companies are up for privatization.
October 27, 2008 · Iran Chamber of Commerce Celebrates 125 Birthday Chairman of Iran Chamber of Commerce, Industries and Mines says the Chamber is planning to celebrate its 125th birthday this year to highlight the historical stride the Chamber has taken thus far. · Austria: Europe Should not Close Eyes on Iranian Gas Austrian O. M. V. President says Europe should not close its eyes to Iran’s energy resources as an alternative to its energy needs. Highlighting Iran’s second position in the world’s gas reserves, he called other energy alternatives as unviable. · The Banker: Status of Iranian Banks in World Latest World Banks ranking by The Banker has put major Iranian banks among the top one thousand in the world. The July edition puts Iran’s Maskan Bank (Housing Bank) as the first in the Middle East from the aspect of investment turnover. The Housing Bank has also garnered 7th place in the world in investment profit of 66.03 percent following Chinese, Japanese, Russian, American and South African banks. Iran’s Industries and Mines Bank, based on this ranking, is placed at 20th for its investment to capital ratio. Bank Sepah has improved its standing from last year’s 1053rd to this year’s 438 in fund transfer movement. · Iran World’s Third Oil Tanker Line by 2011 General Manager of Iranian Oil Tanker Line says Iran will have the world’s third shipping line by the year 2011. The company’s current year capacity will reach to 10 million 677 thousand and 61 tons. · Indian Foreign Secretary Due in Tehran in November Indo-Times reported Indian Foreign Secretary is expected to visit Tehran early November to discuss Iran-Pakistan-India Peace Pipeline.
October 21, 2008 · Tehran Mayor World’s Number 8
The mayor of the Iranian capital, Tehran, has been ranked eighth out of
11 top world mayors by the City Mayors urban affairs think tank's World
Mayor annual project. · Iran Prepared to Provide China with Secure Energy Supply Iran is prepared to provide China with secure source of energy for its every increasing domestic market, said Head of Iran’s Expediency Council, Ayatollah Hashemi Rafsanjani. · Iran Marks US$ 20 billion Non-oil Exports October 20 was celebrated as a day when Iranian non-oil exports passed US$ 20 billion mark. On the National Day of Exports meeting the benchmarks set out in Iran’s Fourth Development Plan was celebrated in the presence of Iranian President Dr. Ahmadinejad. · Top 50 Exporters Awarded Iranian President rewarded top 50 exporters of the country in such areas as agriculture, industries and mines, technical and engineering. · Tehran Stock Exchange Ranks First Tehran Stock Exchange was ranked first in the world in terms of the market growth value and market index by World Stock Exchanges. · Iranian Free Trade Zones and Shanghai Free Trade Zone Visiting Iranian Vice President for Free Trade Zones invited Chinese traders in Shanghai to visit Iran and familiarize themselves with the economic potentials in Iran’s Special Free Trade Zones. Mr. Zhong Weilin, of Shanghai Trade Zone welcomed the visit and called for expansion of cooperation between the two sides. · Iran and Bahrain Ink Gas Cooperation Agreement Iranian Minister of Oil and his Bahraini counterpart signed a gas cooperation agreement by which Iran exports 28 million cubic meters of gas per day for 25 years. Bahrain also pledged to invest in the Phases 15 and 16 of South Pars gas field. · Iran-Switzerland Gas Deal a Milestone: Swiss Foreign Secretary In a meeting with the Speaker of Iranian Parliament, Swiss Foreign Secretary stressed the importance of Iran’s trade ties to her country and called the signed gas deal between the two sides as a milestone and as strategic to Switzerland. · One Million Tons of Petrochemical Products Exported from Asalouyeh Iran’s Asalouyeh has exported one million six hundred sixty six thousand tons of petrochemical goods over the past 3 months to Asian and European countries. · Iran Proposes a 38-member Islamic Stock Exchange Iran has proposed the idea of establishing an Islamic Stock Exchange comprising 38 Islamic countries on the sidelines of a 2-day Conference by stock exchanges of the Islamic countries in Turkey, the General Manager of Tehran Stock Exchange said.
October 17, 2008 · Iran – Azerbaijan – Russia Railway halves Transport Time The memorandum of understanding just signed between Iran, Azerbaijan and Russia on railway expansion, the transport time of goods, has been halved against the current transport time through the traditional transfer route: Suez Canal · Iran – Japan to Set up Saffron Joint-Research Center In a meeting between Dr. Araghchi, Iranian ambassador to Japan with Hiroshi Amano of Japanese Chiba University both sides agreed to set up a saffron joint research center at Ferdowsi University of Mashhad, Iran. · Nuclear Science in Iran’s 20 Agricultural Projects The Head of Agricultural Biotechnology Center of Iran says more than 20 projects nationwide have been conducted by applying nuclear technology. · Economist: US$ 30 billion Investment in Iran’s Oil and Gas Industries Economist quoted Iranian Deputy of Energy and Oil in Moscow Russia as saying that more than US$ 30 billion has been invested in Iran’s oil and gas sectors since the start of 2008.
October 15, 2008 · Number of Publications Puts Iran Among World’s Top 10 Statistics released by Iranian Ministry of Culture shows Iran is among the world’s top ten countries in the number of printed publications. · Iranian Manufactured Airplanes Iranian Minister of Roads and Transportation, Iran’s Police and the Head of Iran’s Aeronautics Organization officiated the ceremony during which 5 Iranian made 140 planes handed over to the police department as well as Iran Tour Airlines. · Iran Exports to USA More than Quadrupled US Statistics Bureau says the volume of export to Iran from USA has more than quadrupled in the month of July – 450 percent to be precise. · IRAN’S 5 PERCENT GROWTH DESPITE FINANCIAL CRISIS Despite international financial meltdown, the Iranian economy will continue its 5 percent growth this year, Business Monitor predicted. · Japan, China and India, Major Importers of Iran’s Oil Reuters reported Japan, China and India as Iran’s major importers of oil. · IranKhodrow Products to 40 Countries Irankhodrow, Iran’s major car manufacturing company announced its cars are currently exported to more than forty countries throughout the world. · MEED: Iran – Korea Oil Talks A delegation from Iran is visiting South Korea to conduct discussions on a possible oil deal with the country, MEED reported. The paper further added the visit is of among a series of efforts made by the Iranian side to diversify its export markets. · Steel Production Up 50 % Deputy Minister of Industries and Mines predicts the output of steel industry in the country will increase by up to 50 percent by the end of the Persian Calendar year (March 21, 2009). · Iran Oil Exported to Skew to Asia Reuters quoted an Iranian Petrochemical company on the sidelines of an international conference on oil in Amsterdam as saying that Asian buyers are less politically affected when it comes to purchase deals and have henceforth made investments in Iran’s oil and gas industries quite substantially. In the person’s opinion, major increase in gas export to Europe for the short term was unlikely pointing to the fact that the Asian countries including China, India and Malaysia were Iran’s major investors. · Iran Agrees to Crude Oil Sale to Pakistan Daily Times of Pakistan has quoted Pakistani Foreign Minister as confirming Iran’s agreement to export oil to Pakistan with 3-month delayed payment. · Germans Export 4 billion Euros to Ira Chairman of Iran-Germany Chamber of Commerce says German has exported 4 billion Euros of goods to Iran despite the unfair sanctions.
October 07, 2008 · Iran-Oman Gas Deal Oman signed a gas deal with Iran to import one billion cubic feet gas from Iran as of 2012. The gas will be provided for from Persian Gulf’s Kish Island. · Petrochemical Products Total Value at US$ 6 billion The first half of the Persian Calendar year (March 21) has seen a total value of 6.3 billion US dollars petrochemical products sold by Iran’s petrochemical industry, an amazing 100 percent growth compared to the same period last year. · Iran, A Real Rival to Nabucco, South Stream Russian Daily, RBC, in a report titled, “Pars, an Iranian Rival to Nabucco and South Stream) wrote in response to the aforesaid gas pipelines, Iran is planning Pars pipeline worth of 4 billion US dollars to transfer its natural gas to Europe. · Investment Opportunities Abound Business Science Monitor in its latest report on Iranian economy says the country is providing abundant opportunities for both domestic and foreign investors particularly in its Stock Exchange. · Iran, World’s Second Producer of Decorative Stones Iran is second in the world in exploitation of its decorative stone mines and fourth in building stones. · Biggest Producing of Cement in MIDEAST With the current production capacity of 200 thousand tons of cement per day, Iran is the biggest producer of cement in the Middle East region. The annual output stands at 60 million tons which is expected to grow to 64 million in six months.
September 30, 2008 · Foreign Currency Reserves Nearing US$ 139 billion Latest statistics released by Iranian Central Bank puts Iran’s foreign currency reserves as at US$ 138.7 billion. · Tehran Stock Exchange at Top According to the statistics released by World Federation of Exchanges, the growth of Tehran Stock Exchange indices is at the top of the growth exhibited by the member exchanges with a commanding lead. · Iran, A Priority for Europe Gas Import In an analytical report, Economist commented that tension in Georgia has turned Iran into Europe’s priority for the import of its gas needs. · US$ 4.7 billion of Petrochemical Products Exported The overall export of petrochemical products during the first half of the Persian Calendar year (March 21) has reached 5 million and 352 thousand tons worth US$ 4.7 billion. · Foreign Firms Ready to Fund Iran-Europe Gas Pipeline Director General of Iranian National Gas Export Company says two foreign companies have expressed their readiness to fund an 8-billion-dollar gas pipeline project in Iran that transfers Iranian gas to Europe. · Iran Goods Bourse Membership at AFM In line with its growth and development of its activities as well as strengthening cooperation with world’s credible exchanges, Iran’s Goods Bourse has become a member of Association of Futures Markets. Of advantages of the said membership is the exchange of expertise with other international institutions.
September 26, 2008 · Iran-China Trade Exchanges Over US$ 17 billion Official figures released in China shows the volume of trade between Iran and China for the first half of the year 2008 as at US$ 17 billion and 389 million. · National Petrochemical Industries Company 45th out of 100 In its latest issue, Petrochemical Products Trade reported that based on the latest analyses from international petrochemical products markets in the year 2007, Iranian National Petrochemical Industries Company is ranked 45th among the world’s top 100 companies. · FRANCE TOTAL TO STAY IN IRAN Stressing Iran’s geopolitical importance to his company, France Total chief executive in an interview with le Figaro newspaper says his company is interested in remaining active in the Iranian market. · Iran, Italy Tighten Anti-money Laundering Measures Director General of Bank Saderat and advisor to the Minister of Finance and Economic Affairs met with a number of Italian officials involved in anti-money laundering campaign. In the meeting both sides exchanged views on the efforts to fight money laundering activities and stressed the necessity of close cooperation in this area. · Holland Purchases 4 Iranian made turbo boats Director General of Dutch MARINE P T says the high quality of Iranian made turbo boats enticed his company to purchase them from Iran. He further added that his company is planning to place an order of 20 more of such turbo boats in future with Kish-based Iranian company.
· 14 Foreign Banks Allowed to Establish in Iran: Central Bank Governor of Central Bank says he has agreed to issue the certificates for 14 foreign banks to open branches in Iran and the preliminary negotiations are underway. · Increasing Demand for Iranian Medicine for MS Breaking the US monopoly over the Sinouex, the medicine for MS patients, by Iranian scientists have inundated them with increasing orders from more than 25 countries from Europe, Asia, Central and South America and Africa. · Phases 9 & 10 Maintenance Agreement Signed Iran and South Korea signed a maintenance agreement for phases 9 and 10 of South Pars. · Iran Telecommunication Grows 60% In its forecast for the year 2008, Business Monitors predicts that Iran’s telecommunications industry will grow 60 percent quantitatively with mobile telephone penetration rate of 64 percent. · European Exports to Iran Up 14% According to Eurostat, the volume of trade between Iran and European Union (27 countries) has grown 7 percent in the first half of 2008. · Dow Jones Report on Iran’s Oil Efforts Dow Jones Newswire reported on Iranian efforts to boost its role as the only viable route for transfer of oil from Central Asia. Quoting Iranian Representative to OPEC, Dow reported Iran is planning to build a new oil refinery and to expand its oil pipeline to Sea of Oman in order to improve its capacity to transfer oil from Central Asia to the Persian Gulf. · Europe bent on Replacing Russian Gas with Iran’s Voice of Germany Radio reported on Europe’s intention to replace Russian gas with Iran’s to rid itself of its dependence on the country. Some of the Western diplomats have expressed caution on Europe’s energy dependence on Russia. · Iran-Malaysia Free Trade Zones Cooperation Agreement The Advisor to the President for Free Trade Zones Affairs and the head of Malaysian Investment Group, alBokhari, exchanged views on how to make operational the cooperation agreement between the two sides. Both sides also discussed the finalizing details of constructing an aluminum producing factory with the capacity of one million tons per year in Iran’s Chabahar free trade zone.
September 11, 2008 · Indonesia keen to invest in Iran’s oil, gas sectors KUALA LUMPUR (IRNA)—Indonesian Minister of Energy and Mineral Resources Purnomo Yusgiantoro said that Indonesia is keen on investment in Iran’s oil and gas sector. Talking to reporters, he lauded Iran’s great economic potentials and said that his country is willing to make investment in the Islamic Republic, particularly in the areas of oil and gas. He said that Iran enjoys billions of dollars oil resources and that the Indonesian state and private investors would pay more attention to Iran’s economic potentials. · Euro Firms Express Readiness to Construct Neka-Jask Pipeline Iranian Minister of Oil says some European companies and some from the Caspian sea region have expressed their preparedness to construct Neka-Jask pipeline adding that the planning and engineering operations of the project have been made and it is ready to be open for public bidding. · Iran Foreign Banks Deposit Based on the announcement made by International Clearing Bank, Iran’s deposits at foreign banks stand at US$ 41 billion in the first quarter of the year 2008, an increase of US$ 5.5 billion. · Iran Only Viable Route for Energy Transfer: MEED In its latest report, Middle East Economic Digest says recent military developments in Georgia once again proves Iran as the only viable route for transfer of energy from Caspian sea and central Asia. · Anti-Money Laundering High Council Set Up The deputy minister of finance and economic affairs announced the establishment of high council for fighting money laundering. Hamid Pour-Mohammadi said that the secretariat of the council has also been commissioned, IRNA reported. He said, "Several groups are scheduled to be dispatched to foreign countries to get acquainted with the latest achievements in the field." Stating that the draft for necessary bylaws for the plan has been prepared, he said that the second meeting of the council is slated for next week to review and approve the bylaws. · Economist: IRAN GDP to double in 4 years In its August report, Economist forecasts Iran GDP to grow 2.3 times by 2012 reaching US$ 8720. · China-India to Develop Iran’s Caspian Oil and Gas Fields Iranian Minister of Oil says his country is negotiating with Chinese and Indians to develop its oil and gas fields in the Caspian Sea, Reuters reported. Huge oil and gas corporations are expanding their presence in Iran despite US sanctions.
September 09, 2008 · One Billion Dollar Tourism Investment Kicks Off Deputy Head of Investment and Projects of Iran Cultural Heritage, Handicrafts and Tourism Organization says one billion dollar foreign investment has been allocated to fund tourism project in the country. · Iran, Persian Gulf’s Port City Second Trade Partner Being replaced by India, Iran has come down as the second trade partner to this Persian Gulf’s port city of Dubai in the first half of the current year. The volume of trade in the said period stands at US$ 2,776,870. · Foreign Banks Presence Discussed Secretary-General to Iran Central Bank says negotiations are underway for Foreign banks to open branches in Iran, calling the move beneficial to both sides. Mr. Bahmani expressed hope at least 2 to three banks will open branches by the year’s end.
September 04, 2008 · Oil & Gas Investment Negotiations Underway with 15 Euro-Asian Countries Deputy for Investment Affairs at Iranian National Oil Company is said his company is negotiating with such 15 Asian and European countries as Spain, France, Germany, Austria, Italy, Poland, Switzerland, Norway, Turkey, Russia, India, China, Japan, Korea, and Malaysia on investment opportunities in oil and gas projects. · Trade Balance Sheet US$ 11 billion In its latest report, Economist predicted Iran’s trade balance sheet in the current year as around US$ 54 billion. It is August 2008 report the Economist has estimated Iran’s imports in 2007 as at 53 billion and 900 million dollars. · Mineral Productions Up The volume of mineral productions such as steel, iron ore, coal, aluminum has grown in the first quarter of the Persian Calendar (March 21) compared to the same period last year with 5 million and 914 thousand tons of which worth one billion and 641 million dollars exported. · Government Share in Economy Under 50 percent Director General of Iranian Privatization Organization says the share of the government in the economy will come under 50 percent after an agreement reached with the Ministry of Energy to privatize 10 power plants. He further added discussions are underway to remove the relevant restrictions on privatizing the banking sector.
August 29, 2008 · Iranian Astronomy Team 3rd in the World A 5-member astronomy team of Iranian students landed in third place at the 2nd International Astronomy Olympiad with one gold medal, a silver and two bronze. The competition was held in Bandung Indonesia on August 19, 2008. · Iran Stock Exchange Growth First in the World: IFSE Based on the report released by International Federation of Stock Exchanges, Iran Stock Exchange has maintained its previous status as the world’s first in terms of indices growth second month in a row. The figures show last month’s turnover has grown 106 percent to US$ 65.7 billion, compared to the same period last year.
August 28, 2008 · Booming Share Prices in Iran Following the public offering of the such state companies as Iran’s Telecommunications, Islamic Republic of Iran Shipping Line and Refinery of Isfahan, the price of the shares have dramatically increased and so have enticed the investors to invest in Stock Exchange. · Italy to build freshwater unit in Iran’s Assalouyeh Italy entered to an agreement with Iran to build a freshwater unit in South Pars Special Economic Zone worth 100 million Euros. The agreement was signed between Italian WTD and Iranian National Petrochemical Industries Company. · Petrochemical Industry Attracts US$ 4.5 billion Director General of Iranian National Petrochemical Industries Company put the volume of foreign investment in the country’s petrochemical industry as at US$ 4.5 billion adding that some joint projects with foreign companies have become operational. · 12 International Operators to Bid for Iran’s 3rd Operator Twelve foreign countries from Russia, South Korea and Malaysia have expressed their interest to enter the bid for Iran’s 3rd mobile telephone operator. It is also heard American AT&T is among other bidders. Outlining the company’s policies, Director General of AT&T, Mr. Dave Dorman pointed out Iran’s unique status as a young country and the potentials it offers for investment. · Switzerland Says No to US Pressure to Cancel Iran Gas Deal Swiss Foreign Secretary has once again thrown her support behind the gas deal with Iran despite US pressures as to walk away from the deal. Besides, many European countries are trying to follow suit and have expressed interest to make investments in Iran. · Mashhad, Host to World’s Automakers Two hundred foreign and domestic auto-manufacturing companies have come to Mashhad to showcase their latest products in an area of 50 thousand square meters. Some these manufacturers come from Germany, UK, Japan, France, South Korea, Malaysia and Poland. · MEED: Iranian Market Still Attractive Despite US Sanctions In an opinion piece, Middle East Economic Digest (MEED) commented on Iran’s second largest oil and gas reserves as attractive to foreign investors.
August 14, 2008 · Oil Revenues US$ 29.5 billion Deputy Oil Minister puts the oil income as of the beginning of the Persian New Year (March 21) as at US$ 29.5 billion. · Iran Biggest Manufacturer of French Peugeot With manufacturing 237 thousand Peugeot automobiles in 2007, Iran has been selected as the largest producer of the French Giant Peugeot in beyond the Western Europe Region. · Ministry of Economic Affairs Supports Foreign Investors The President of Iranian Stock Exchange and Securities says his body has signed an MoU with the Organization of Foreign Investment based on which foreign firms interested in purchasing the Iranian shares would be supported so as to assure them of their safe investment. · Hand-knitted Persian Carpets Exhibition Attracts Foreign Visitors The Head of Iran National Carpet Center Hand-knitted Persian Carpets Exhibition slated for late August 2008 is expecting 150 VIP guests from US, Europe, China and Japan. · Huge Sino-Russian Investment Continues in Iran Tacitly acknowledging the failure of US sanctions on Iran, in its Op-Ed Washington Times reported Russia and China have continued their billion dollar investments in Iran. · Tell nations about Iran's achievements in genetic engineering - Japanese MP A member of Japan's Parliament, Professor Akiko Yamanaka said here after visiting Iran's Rouyan Institute it is time for Iran to tell world nations on advanced genetic engineering activities taking place here. Professor Yamanaka who was accompanied by his country's charge d'affaires in Tehran during the visit got informed about the various scientific activities pursued at the center, praised the high level of them, and encouraged the institute's officials to propagate at the international scene. · US$ 11 Billion Foreign Investment Ratified The Advisor to the Organization of Foreign Investment of the Ministry of Finance and Economic Affairs says last year more than US$ 11 billion dollar foreign investment has been ratified for 104 projects.
August 07, 2008
European Union exports to Iran are on the rise again after a three-year decline, despite United Nations sanctions over Tehran's nuclear programme, figures from the EU's statistics office Eurostat show. Exports from the 27-nation bloc to the Islamic Republic rose to 4.47 billion euros ($6.93 billion) in the first five months of this year, up 17.8 percent compared with the same period in 2007, even as tension with Iran on the nuclear issue mounted. · 8TH Property Industry Expo Opened The 8th Property Industry Exposition will open tomorrow thanks to the efforts made by the Cooperation Chamber of Iran and will receive participants for 3 days. A high-ranking delegation from neighboring Iraq will also take part in the 3 day event. · Iran-Philippines Air Travel Agricultural Ministry of Iran in cooperation with United Nations Industrial Development Organization is to execute joint projects in the areas of conversion and finishing industries of agricultural products. · Asian and European Firms in LNG Projects Director General of Iranian Liquefying Natural Gas Company says his company is in negotiations with companies from Austria, India, Italy, China, Germany and Spain to expand its LNG Projects.
August 04, 2008 · Tehran Stock Exchange Tops the World SEs Latest figures released by World Federation of Exchanges (WEF) puts Tehran Stock Exchange atop with the turnover growth of 29.4 percent. · Russian Investor Vying for 50% of Isfahan Steel Company Director General of Isfahan Steel Company says a Russian investor is planning to purchase the managerial share as well as 50 percent of the company’s total shares. The Iranian side has agreed to grant him with his request. · Iran-UNIDO Joint Agricultural Projects Agricultural Ministry of Iran in cooperation with United Nations Industrial Development Organization is to execute joint projects in the areas of conversion and finishing industries of agricultural products. · Persian Gulf Littoral State to Co-Construct Iranian Power Plant Quest, an Emirati Energy Company, has expressed its readiness to joint develop a 1000 mega watt power plant in South of Iran with Iran Mapna Company, MEED reported.
July 31, 2008 · German Government Approves Company's Bid to Build Gas Plants for Iran Germany's federal export control office has cleared the way for an engineering company to build three plants for Iran to liquefy natural gas, a government spokesman said Tuesday.The Federal Office of Economics and Export Control concluded after a 12-month investigation that plans by Steiner-Prematechnik-Gastec to build equipment for converting natural gas to a liquid would go ahead.. · Petrovietnam to Begin Iranian Oil exploration Work Vietnam's state-run Petrovietnam Exploration Production Corporation is to start work on the exploration and development of the Danan oil block in Iran on 1 August, as part of a four-year deal agreed with National Iranian Oil Company (NIOC).
July 29, 2008 · Iran Economy to Grow 6.5 % In its July report, Economist has forecast a 6.5 percent growth for Iranian economy for current Iranian year (ending March 21, 2009), thanks to the surge in oil revenues. The forecast growth for last year was at 6.2 percent. · Iran, World’s Sixteenth Automaker Iran’s rank among the world’s automakers has gone up one notch overtaking Turkey, Belgium and Czech Republic. With the production of one million and 107 thousand automobiles and export to countries across five continents, Iran has affirmed its position as the 16th automaker in the world.
July 28, 2008 · Germany Invests 500 Million Euro in Persian Gulf Kish Island Kish Free Trade Zone and German MRK signed a 500 million Euro memorandum of understanding to carry out infrastructure projects in this beautiful Persian Gulf Island. · Iranian Samand of Most Popular Islamic Brand In its recent report, Dinar Standard Website has put Iran Khodro’s Samand among top 25 brands in the Islamic world. The Iranian manufactured autos are now being sold in more than 10 Arab countries. · Iran-Kirgizstan to Sign MoU on Stock Exchange Iran and Kirgizstan signed a memorandum of understanding to expand cooperation between their respective stock exchanges in line with the Iranian side’s policy of expansion of cooperation with Islamic countries and members of Economic Cooperation Organization. · US$ 51 million Investment Finds Way to Iranian Stock Exchange In the first 4 months of the Persian Calendar (beginning March 21), the volume of trade at Iran Stock exchange has been US$ 51 million (FDI) and US$ 480 million by local investors. · Iran Exports US$ 3 billion Industrial and Mineral Products The volume of Industrial and mineral products in the first quarter of the Persian Calendar year has reached over US$ 3 BILLION and 673 million. · US$ 3 billion Export of Petrochemicals Petrochemical Trade Company has exported 3 million and 363 thousand tons of petrochemical products in the first four months of the Persian Calendar worth of US$ 2 billion and 949 million.
July 04, 2008 · Iran Sets Up Tourism Investment Offices in Kuwait Deputy Head of Iran’s Cultural Heritage, Handicrafts and Tourism Organization for Investment says Iran has set up tourism investment offices in Kuwait adding that around 30 more such offices will be added to the current overseas investment offices. · World Body Confirms World-Standard Iranian Pistachios The International Food Summit (The Codex Alimentarius Commission) has confirmed the compliance of Iranian pistachios with international standards thanks to the efforts made by the experts at Agricultural Ministry.
July 03, 2008 · Italian Eni Maintains Iran Presence Despite US Pressure Chairman of Italian Eni has stressed his company’s determination to brave US pressure and stay active in Iran claiming leaving the projects unfinished would cost his company 2 to 3 billion US dollars. · Omani Investment Delegation in Persian Gulf Chabahar Free Trade Zone An investment delegation from this Persian Gulf Kingdom of Oman is in Chabahar Free Trade Zone to discuss investment opportunities with the Iranian officials. Given the presence of around 300 thousand Iranians in Oman as well as its geographical proximity, investment in this area is a proper platform for the Omani and other overseas investors.
July 02, 2008 · Iran Third Exporter of Oil to Japan With export of more than 14 billion barrels of oil, Iran is Japan’s third provider of oil after Saudi Arabia and UAE, a rise of 5.46 percent compared to the same period last year. · Economist: Iran Trade Balance Sheet US$ 20.8 billion With an increase of US$ 4.6 billion in imports, Iran’s trade balance sheet is at US$ 20.8 million, the Economist reported. In June 2008, Iran has imported around 4 billion dollars of goods and it has expected the number to grow around 59 billion. · Record Breaking Oil Production in Iran Iranian Oil Ministry announced yesterday that production of oil in the country has reached a 30-year record high at 4 million and 230 thousand barrels per day. It further said the Ministry plan to increase the output to 4 million and 280 thousand bpd.
June 30, 2008 · IranKhodrow Plans to Capture 1 percent of World’s Auto Market Officiating the gathering of IranKhodrow sales export representative, the Managing Director of Iran’s leading car manufacturers says his company’s future outlook is to capture one percent of the world’s auto market. · Record Transaction in Iran Stock Exchange Foolade Khoozestan (Khoozestan Steel) share offering has made record transaction at value of 1360 billion tomans in Iran Stock Exchange. · Iran Export to Reach US$ 25 Billion In its month of June report, Economist has put Iran’s exports around US$ 89 billion and has estimated for the current year to be around 112 billion and 900 million dollars. · UAE Requests to Open Rep Office in Tehran Director of Ras al Kheima of UAE says being neighbor to Iran has provided the region with a good trade opportunity and called for establishment of an office in Iran.
June 27, 2008 · Iran’s Share of Caspian Sea Oil Reserves For the first time ever in the Middle East, a huge oil rig will be constructed in the Caspian Sea to extract oil by Iranian engineers. An excavation test was administered two months ago and the said rig will be ready for installation soon. · 9.5 tons Petrochemicals Exported By March 21, 2008, the total production of petrochemicals in Iran reached 24 million tons which is expected to reach 35 million tons by March 21, 2009 (end of Persian Calendar). In the said period Iran exported 9.5 million tons at the value of six billion US dollars which is expected to equal US$ 7.8 billion.
June 26, 2008 · Iran Remains Europe Possible Option for Gas Pointing out to Iran’s huge gas reserves, Nabaco Pipeline Project Director says his company would transfer natural gas from every market to Europe, Associated Press reported. Flouting US pressures, Nabaco announced it would transfer Iranian gas from South Pars to Europe through Nabaco pipeline. · Iranians of Top 5 Investors in Persian Gulf’s Dubai In its latest report, Emarati Ministry of Economy announced with total investment of US$ 760 million, Iranians rank fifth on the list of top investing countries after UK, Japan, India and USA. · Iran-China Volume of Trade Up 59% Referring to a 59 percent rise in the volume of trade between Iran and China, the Chinese ambassador to Tehran says China is Iran’s first trade partner and his country’s second in the region. · Croatia Kicks off Iran Oil Excavation Croatian state INA has started off its excavation of Moghan II, an oil block in northwest Iran. The excavation contract was inked last April between Iran and Croatia. · Iranian Reserves Over US$ 14 billion Save Gold In its latest report, Economist forecasts of a US$ 14 billion in Iran’s reserves and reaching its highest record by the end of the current year. · Japan’s State-Private Sectors Prepared for Joint Investment In a meeting with his Iranian counter part the visiting Japanese MP has emphasized the full readiness of various sectors of his country for joint investment in Iran. In his part, referring to new legislation in the parliament, the Iranian counterpart, Mr. Naderan said the said legislation would pave the way for stronger presence of foreign private and state investment companies in Iran. · Austria Interested to Join Iran Gas to Euro Project In a meeting with Iranian Deputy Foreign Minister with the Director General of Austrian Foreign Ministry, the Austrian official highlighted the his country’s determination to join Iranian-Europe gas pipeline project. · Iran to Build Halal Slaughterhouse in Thailand Iranian ITBC and Halal Food Society of Thailand will jointly build the first ever halal slaughter house for poultry and meat. · International Demand for Iranian Engineering Expertise Deputy Oil Minister for International Affairs says Iranian engineers have proved they are more than able to fulfill their project obligations. Over the past few days, the Deputy says, Iran has received numerous requests for expertise from Turkmenistan, Kazakhstan and Uzbekistan to tap into Iranian expertise. · Shell, Total & Respol in South Pars Iran Deputy Oil Minister for International Affairs says Shell, Total and Respol have requested to be given another opportunity to develop South Pars in Iran.
June 24, 2008 · Bourse of Tehran, World’s 7th The total value of Tehran’s Stock Exchange has put it at rank 7th in the world. In its latest report, World Stock Exchange Federation points out to the 16 percent growth in TSE indices has earned itself the sixth place and in terms of value has gone up to 7th with the growth of 37 percent. · Iran, 40% of World’s Carpet Trade The head of National Persian Carpet Center says Iran comprises 40 percent of the world’s carpets trade bringing in revenue of US$ 750 million last year.
June 23, 2008 · Russian Bid to Develop North Pars Oil Minister says Russia has shown interest to develop North Pars and South Pars Phase II. He termed the trend of negotiations with Russians as “desirable” and said the negotiations will most likely be finalized in 3 months. · Iranian Companies Welcome Iran-Europe Bank Board member of Iran-Europe Bank says the patronage shown by Iranian companies and financial and industrial institutions towards the newly opened bank, has been great. He further added the bank has received many applications for business bank accounts. · Iranian Professor Heads Newly Constructed International Neurology Center International Neurology Center in Beijing was inaugurated in the presence of a number of Chinese and German officials. Also present in the ceremony were Iranian Ambassador to China, Dr. Javad Mansouri, Gerhard Schroder and Professor Majid Sameei who will head the center.
June 19, 2008 · Foreign Investors Vying for Telecommunications Inc. Shares Telecommunications and Technology Minister says his Ministry has attracted US$ 1.5 billion foreign investment over the past two years. He further added that some of the foreign investors have expressed willingness to purchase the shares offered by Telecommunications Company. · Tehran Stock Exchange Booming The monetary and financial policies of the Government and Iranian Central Bank have proved effective attracting more investors. Price indexes as well as the pecuniary throughputs have taken off to 41988 points from 36206.
June 18, 2008
Iranian made cars, Samand, has found ardent supporters in one of the world’s coldest places on earth, Siberia Russia. A visiting delegation from different sectors of Russian auto industry, AUTO FIROIND, is in negotiation with Iran Khodrow, Iran’s leading auto manufacturer to expand its export to Russia. Reliably strong cars, Samands are best equipped to weather the Russian storms.
During their 13th Joint Cooperation Commission, Iran and Cuba signed a memorandum of understanding to expand their trade, economic, mineral and industrial cooperation between the two countries.
In its latest report, the European Commission said the European exports to Iran during the first two months of 2008 have grown 16 percent compared to the figures for the same period last year reaching around two billion Euros.
June 17, 2008 · High Oil Prices Strengthening Iranian Economy In an economic commentary on Iranian economy, the Economist evaluates it as strong despite losing steam, thanks to high oil prices. · Qatar Determined to Invest in Iran In his meeting with Iranian Minister of Finance and Economic Affairs, Qatari Minister of Finance has stressed his country’s determination in investment in Iran. · Gold Production New Technology in Iran For the first time in Iran, sampling and analysis (BELG) are to be used to produce gold, says Deputy Director for Geological Organization of Iran. This new technology would earn an appropriate status at the world stage for Iran in the area of gold reserves. · Iranian Gov. to Allocate US$ 12 billion Oil Investment Iranian Ministry of Oil announced the Government is planning to allocate US$ 12 billion for investment in the oil sector. Investment in this sector is made both by the local and overseas companies.
June 16, 2008 · Daily Oil Production Capacity Over 4.4 billion In its annual report British Oil Petroleum reported Iran has increased its daily production of oil to over 4.4 billion barrels. · New Iranian Oil Tanker Hits Persian Gulf Waters Business Manger for Iranian Oil Tanker Company says it has added to its fleet a newly purchased oil tanker from South Korea. It is to start its maiden voyage to Portugal within a few days. · French Total to Invest in Pars Iranian Minister of Oil says they are negotiating with French Total to participate in the expansion of oil and gas rich region of Pars. · Iran-Malaysia Resalat Oil Field Expansion Agreement Finalized Falat Gharreh Oil Company of Iran said an agreement has been finalized between Iran and Malaysia to expand Resalat Oil Field in south of Iran worth of US$ 1.5 billion. · US$ 3 billion Indian Investment in Farsi Oil Field Indian Oil officials announced that pending the consent of the Iranian officials, they are to invest US$ 3 billion to expand Iranian Farsi Oil Field.
June 13, 2008
South Pars Gas Company Director General says his company has entered into a cooperation agreement with South Korean GS in order to make operational phases 9 and 10.
The 10th Iran-Indonesia joint economic commission was held on Tuesday in Jakarta, Indonesia. The two-day commission is being co-chaired by Iran's Minister of Communications and Information Technology Mohammad Soleimani in the presence of high-ranking trade and political officials of the two countries. Referring to exchange of visits by presidents of the two countries, the Indonesian managing director of Commerce Ministry for trade cooperation stressed the political will to promote mutual ties.
In its January report, the World Bank had predicted a 5 percent economic growth for Iran. Yet in its June report the world body has amended its previous forecast to 5.7 percent.
An Indian refinery firm has announced it is planning to enter into a one-year agreement with Iran for the purchase of 500 thousand tons of crude oil to diversify its energy sources.
At a meeting with Malaysian Minister of Entrepreneur Development, Iranian minister of Labor and Social Affairs Mohammad Jahromi told that Iran is interested in dispatching its technical, medical, and agricultural workforces to Malaysia. Referring to the growth and development of universities in the Islamic Republic and educated workforces, he told that the country is able to supply workforce demands of domestic as well as foreign markets. The Malaysian minister, for his part, welcomed Iran`s proposal and called for the two sides` high-ranking officials` negotiations on the subject in the near future.
Visiting Deputy Governor of Malaysian Central Bank says Iranian bankers’ understanding of Islamic finance system is good enough and further added that some Iranian banks have expressed their interest in the Malaysian Market.
The Head of Iran’s Privatization Organization announced that the total value of Iran Stock Exchange will pass US$ 70 billion within a month.
Iran has gone up the ladder of world’s scientific standing to 30th in terms of peer-reviewed papers in the year 2007 according to the ISI. June 11, 2008
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May 29, 2008 · Growth in Technical & Engineering Exports · Deputy Oil Minister: Private Sector to Enter Iran’s Refinery Sector · Iranian Researcher Wins International Physics Award
May 28, 2008 · Iran Foreign Investment Regulations Amended · MoU to Expand Iranian Oil Fields Signed with Malaysia · US$ 24 billion Petrochemical Company to Privatize · Iran Among World Producers of LNG by 2010 · Iran, 14th Desirable Investment Destination · Iran Gas to Bahrain Negotiations Underway · 3 Overseas Companies Compete in Iran Mobile Market
May 27, 2008 · Iran – China Co-Explore Mines · Privatization to complete by 2014 · Passenger Shipping Line to Connect Persian Gulf Kish Island to Europe · Iran-Europe Bank to Open First-ever Branch in Iran · Foreign Currency Reserves at US$ 67 billion
May 26, 2008 · Iranian Achamenid Empire in France · 5 US University Chancellors in Tehran’s University of Technology
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