Iran, South Korean private sectors sign 10 MoUs

The MoUs were signed on Sunday afternoon in the second meeting of technology transfer in the presence of 40 small- and medium-sized industrial companies of Iran and nine companies from South Korea in the fields of spare parts, fishery, marine environment, apiculture, biologic fertilizer, die casting, oil and gas.

The MoUs were signed in the presence of Deputy Minister of Industry and Managing Director of Iran Small Industries and Industrial Parks Organization (ISIPO) Ali Yazdani and South Korean Ambassador to Iran Kim Seung-Ho.

In the ceremony, Yazdani said considering close relations between the two countries, especially following JCPOA implementation, promotion of bilateral ties is possible.

He said that holding such meetings will pave ground for promotion of relations between small- and medium-sized companies.

Kim Seung-Ho said that 98 percent of Iran’s export of goods to South Korea are oil and business between the two countries is among big industries.

Economic relations in such situation would be very fragile, but there are plenty of small- and medium-sized businesses in Iran and South Korea, which cooperation among them may deepen mutual ties between the two countries.

The ambassador told presenting Korean businessmen in the meeting that Iran’s new policy is to end merely purchasing foreign goods, so it is good opportunity for joint venture plans.

Last April, 16 MoUs on transfer of technologies were signed between private sectors of the two countries in Seoul.

South Korea is among first five countries with trade exchanges with Iran and according to Iran’s Customs Office statistics in Iranian calendar year of 1395 (March 21, 2016- March 21, 2017) South Korea with 2.876 billion dollars was the fifth destination of Iran’s export.

South Korea's ranking came after China, the United Arab Emirates (UAE), Iraq and Turkey.

It had 3.460-billion-dollar export to Iran during the same period and had third rank among exporting countries to Iran.

During the era of imposed sanctions against Iran, South Korea maintained its position as one of the main trade exchangers with Iran.

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