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Iran, South Korea to boost trade to $18 billion

Staff writer |
President Hassan Rouhani said that Iran and South Korea are planning for a threefold increase in their bilateral trade turnover.




The plan for the boost of ties is from current level of $6 billion to $18 billion annually, Rouhani said in a ceremony that saw the signing of cooperation agreements between his administration and that of South Korea.

In a meeting with his visiting South Korean counterpart Park Geun-hye in Tehran on Monday, Rouhani expressed willingness for the investments of the South Korean firms in Iran and the transfer of technology to the Islamic republic.

He pointed to the existing banking issues between Tehran and Seoul, saying that both countries should develop banking relations as a means to expand ties and enhance trade relations to the strategic level.

Seoul and Tehran also agreed to cooperate in tourism sector, and South Korean firms will develop Iran's tourism infrastructure and invest in constructing hotels, he added.

As for the regional and international issues, Rouhani said that Iran is against the production and use of weapons of mass destruction in the world, particularly in the Korean Peninsula and the Middle East.

Iran wants security, peace and stability for Korean Peninsula, he added.

On Monday, Iran and South Korean signed 19 agreements of cooperation to boost ties in diverse areas.


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