Iran, Singapore seal investment deal
Iran’s industry minister and Singaporean minister for trade and industry signed an agreement on reciprocal encouragement and protection of investment on Monday.
Speaking at a meeting with Singapore Minister for Trade and Industry S Iswaran, Iran Minister of Economic Affairs and Finance Ali Tayebnia deemed the signing of the Bilateral Investment Treaty (BIT) as a good ground for expansion of bilateral trade and investment.
Tayebnia appreciated the measures taken by Singapore’s government and private sector during the post sanction era for removing banking restrictions against Iran; “the geographical position of Iran, as the most powerful and stable country in the region, in addition to Singapore’s strategic location in Eastern Asia sets the ground for realization of unprecedented cooperation between the two sides.”
“Iran’s main policy in the world and region has been confronting extremism and terrorism, provision of security as well as creation of stability,” underlined the official expressing hope that the livelihoods and welfare of nations will be promoted in view of the existing security, stability and boosting of relations with other countries, especially Singapore.”
Singapore Minister for Trade and Industry S Iswaran, for his part, evaluated Iran as a stable, significant and influential in the region with great economic potential voicing hope that his trip would lead to reinvigoration of economic ties between the two countries.
Pointing to the arrangement of his accompanying delegation consisting of representatives from largest governmental and private Singaporean companies, S Iswaran said “we aim to meet Iranian economic activists in order to identify investment opportunities as well as venues for bilateral collaboration.”
He enumerated the interests of Singaporean investors including Petrochemical, shipping, energy and transportation emphasizing the need to discover suitable opportunities for investment in Iran after the disruption caused by sanctions.