Following a meeting with South Africa's Finance Minister Pravin Gordhan, Iran�s Minister of Economy Ali Tayebnia emphasized expansion of economic cooperation between the two sides saying �three agreements will be sealed on Sunday.�
�Iran and South Africa mark the largest and most powerful countries in the Middle East and the southern Africa,� noted the official asserting �despite the existence of positive and constructive political ties, the volume of trade turnover and economic cooperation is very low.�
Tayebnia expressed hope that the ties between the two sides will reach more than one or two billion dollars to which end all barriers need to be alleviated; �the launch of broker relations between Iranian and S
outh African banks remain as a vital requirement for boosting relations.�
The Iranian economy minster highlighted �one Iranian bank is seeking to set up a joint bank in South Africa.�
�Relevant contracts have been inked as broker relations will be launched between Iranian and South African banks,� he added.
The official touched upon the three agreements which are scheduled to be signed on Sunday adding �one deal pertains to a joint committee and investments between the two countries.�
�South Africa has had positive experiences with regard to investment in Iran,� reiterated Tayebnia expressing hope that the ties will get further boosted in future.
South Africa's Finance Minister Pravin Gordhan, for his part, said �a cooperation agreement will also be signed between Iran and South Africa; the agreement will also include insurance collaborations.�
�Accordingly, increased cooperation between the two sides� banks is a necessity to set the ground for more investment between the two countries,� stressed Gordhan concluding �Iran and South Africa enjoy historical relations the expansion of which is required to protect the interests of the two countries.�
By Mehr News Agency
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