Iran private sector calls for resolving banking problems with Qatar

Vice-President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Hossein selahvarzi referred to banking problems and high marine transportation costs as the main obstacles to Iran’s trade with Qatar.

7 March 2023
ID : 44527
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Vice-President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Hossein selahvarzi referred to banking problems and high marine transportation costs as the main obstacles to Iran’s trade with Qatar.

Vice-President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Hossein selahvarzi is addressing an Iran-Qatar Business Forum in Tehran, Iran, March 6, 2023.

Vice-President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Hossein selahvarzi referred to banking problems and high marine transportation costs as the main obstacles to Iran’s trade with Qatar.

Selahvarzi who was addressing an Iran-Qatar Business Forum in Tehran on Monday, said that economic relations between Iran and Qatar are lagging behind the cordial political relations.

Referring to a 22% rise in the volume of trade between the two countries over the past 11 months, Selahvarzi however said that there is a long way to go yet.

He noted that apart from Iran’s potential with an 83-million population, a preferential trade agreement between Tehran and the Eurasian Economic Union which is expected to turn into a full-fledged free trade agreement soon, provides Qatar with access to the Eurasian market.

The vice-president of Iran Chamber of Commerce also touched upon Qatar’s 2030 Vision Plan, and said that the Iranian private sector can cooperate with Qatar in different industrial, oil and gas, petrochemical, electricity and energy, and tourism areas.

He advised Qatar to look at Iran as a gateway to Central Asia and CIS countries considering the country’s short and secure transit routes to these regions.  

Speaking on the sidelines of the event, head of the trade Promotion Organization of Iran (TPO) Alireza Peimanpak expressed satisfaction with the forum being held in Tehran and said that “We will have more detailed negotiations with Qatar's industry and trade officials on issues related to maritime transportation, insurance, banking issues, warranty and food safety issues.”  

He said that Iran eyes to make optimum use of Qatar’s potential for re-export of Iranian commodities and reduce the focus on the UAE.

Peimanpak said that the existing $200-250 million annual trade between Iran and Qatar is insignificant, calling for further planning on both sides to increase the amount.

The two-day Iran-Qatar Business Forum has been organized by Qatar Development Bank, the Qatari embassy in Tehran and the Trade Promotion Organization of Iran (TPO), according to Farzad Piltan, the director of TPO’s Arab-African Bureau.

He said that the event is participated by 20 major holdings and companies from Qatar and more than 200 companies from Iran.

Senior participants include TPO chief Alireza Peimanpak, Vice-President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Hossein Selahvarzi, secretary-general of Qatar Chamber of Commerce and Industry, as well as Iranian deputy Minister of Industry, Mine and Trade and Qatari deputy minister of commerce and industry.

There will be B2B meetings between the representatives of Iranian companies and their Qatari partners.

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