Iran and Syria are set to establish three joint factories that will supply the country with vital staples such as anti-cancer medicine, baby formula and cars.
Many countries are considering joining the European payment mechanism. Sweden, after Finland, is the second Scandinavian country to express readiness to be part of the trade channel.
Iran private sector says it has all the capacity to fully enter the Iraqi reconstruction market as the neighbouring country eyes foreign investment to rebuild itself.
Securities and Exchange Organization (SEO) of Iran and the Iraqi Securities Commission (ISC) signed a Memorandum of Understanding (MoU) to create a joint investment fund.
Iranian ship Bavand, which had been at the heart of a geopolitical spat between Brasilia and Tehran, set sail from Brazil on Monday after receiving fuel from state-run Petroleo Brasileiro, the port of Paranaguá said.
In a push to process transactions more quickly, INSTEX is rolling out a new factoring service for European exporters. The company is also making new hires that will enable it to expand operations in the coming year.
The foreign exchange market is meant to bring under control the market that has been spiraling out of control following the reimposition of unilateral US sanctions.
Asghar Ghandchi was one of the first entrepreneurs that started to revolutionise Iran’s industrial sector by assembling and manufacturing big lorries, later Mack Trucks, that were built to suit the Iranian climate and bad roads in the 70s.
After one year of the imposition of oil sanctions, Iran’s economy now enjoys a stable status. Iran expects friend countries to act more actively in buying Iranian oil, Iran’s Vice President Jahangiri said.
Iran and Cuba have been both fighting against unilateralism and a polar world in which the US has the final say, since their anti-American revolutions. Now, they are eager to expand and develop their ties in the face of US unilateral sanctions.