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No. 55 29 Khordad 1388- June 19, 2009
Economic – Business News
· 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.
· 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.”
· 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.
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.
· 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.
· 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.”
· 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
· 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 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.
· 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.
· 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.
· 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 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 $12 billion worth in bonds for a period of three years, Shana said.
· S. Korea ready to invest in Chabahar South Korean ambassador to Iran announced his country's readiness for investing in Chabahar Free Trade Zone. Yung Muk Kim made the remarks while visiting the zone Tuesday.
For the first time ever, an Iranian academic team has earned itself the first prize at International Extensible Business Reporting Language in the United States.
· Malaysia keen to use Iran's green technology experiences Malaysia’s Minister of Energy, Green Technology and Water, Peter Chin Fah Kui, voiced his country's interest in using Iran’s valuable experiences in the field of green technology.
· 9,000 TEU container ship anchors at Rajaee Port A Shahid Rajaee Port Complex official announced that a large ship with 9,012 twenty-foot-equivalent units (TEU) capacity anchored at the port. The ship which belongs to Mediterranean Shipping Company (MSC), the world’s second largest shipping line, is the largest vessel that has ever entered Shahid Rajaee Port, said Hossein Cheraghi.
· Iran, 39th Industrial Country
Economist reported Iran is now positioned as the 39th in the world in terms of industrialization with US$ 23 billion industrial products.
· 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.
· 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.
· 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.
· 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.
· 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. 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.”
· 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.
· 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 said 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.
· Diplomat: Japanese firms keen on Iran's oil, gas investment 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.
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 has the greatest gas network in the world with 30,000 kilometers of high-pressure pipelines.
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.
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.
Iran is among top ten manufacturers of gas turbines with capacity of 160 megawatts, deputy energy minister said. 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.
Iran-Iraq trade exchanges stood at $4.4 billion last year, a trade official announced. Kheirollah Khadem made the remarks while addressing a conference on promotion of Iran-Iraq trade held in this western provincial capital city.
Seven foreign banks have applied to open branches in Iran, Central Bank of Iran Governor Mahmoud Bahmani said. “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.
· Iran is to help Tanzania and Zanzibar to develop their agriculture Iran’s First Vice President who returned to Tehran after a 6-day tour to South Africa, Tanzania and Zanzibar said Iran is to establish agricultural offices in Zanzibar City and Dares Salaam.
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 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.
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.
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.
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. · GECF to officially begin activity in July 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.
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 .
Businessmen and traders from Taiwan participated in a one-day seminar 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.
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. 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.
· Iran, China to expand private sector investment Joint conference will be kicked off last month 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.
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,
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.
· 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.
· 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.
· 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.
· 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.
· 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.
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