Iran to strengthen economic ties with Africa launch shipping line to West Africa

Iran to strengthen economic ties with Africa, launch shipping line to West Africa

TEHRAN – Iran’s head of Trade Promotion Organization (TPO) announced plans to enhance economic cooperation with African countries, including establishing a shipping line to West Africa and expanding commercial centers in African nations.

In a meeting to discuss the upcoming third Iran-Africa Economic Cooperation Summit, Mohammad Ali Dehghan Dehnavi revealed that the summit would be held from May 7 to May 11, 2025. Dehghan Dehnavi highlighted the strategic importance of this partnership, emphasizing that President Pezeshkian has placed a strong focus on guiding Iran’s economic cooperation with Africa.

He further announced the creation of a permanent secretariat for Iran-Africa cooperation within the TPO. This move aims to encourage greater private sector involvement in Africa and to increase Iran’s economic footprint on the continent.

According to Dehghan Dehnavi, the Trade Promotion Organization has various tools at its disposal to foster stronger ties, including organizing events, exhibitions, business delegations, and bilateral meetings. He added that the organization is actively studying different sectors and opportunities for collaboration in Africa to further develop economic relations.

The official noted that significant progress is being made in improving trade logistics, with efforts to establish a shipping line to West Africa and expand trade centers in African countries. Additionally, cooperation is being pursued through the Central Bank of Iran to establish financial transfer channels.

Iran is also looking to increase investment in oil, petrochemical, and mining sectors in Africa. Dehghan Dehnavi confirmed that the country has received authorization from the Africa Headquarters to proceed with the purchase of African goods, further boosting trade between the regions.

The official emphasized the importance of foreign embassies’ role in facilitating private sector engagement, adding that more information exchanges are needed between Iran and Africa to foster deeper collaboration.

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source: tehrantimes.com