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Tehran, Wellington sign agreement to increase trade ties

Staff writer |
The Export Guarantee Fund of Iran (EGFI) and New Zealand Export Credit Office (NZECO) inked an agreement to boost cooperation between the two countries in trade and investment fields.

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The agreement was endorsed during the Iranian Foreign Minister Mohammad Javad Zarif’s recent visit to Wellington, Global Trade Review reported on Saturday.

According to the report, it covers co-insurance, re-insurance, credit assessment, claims prevention, debt recovery and any other area which helps exporters of both countries.

“The entering of Iranian exporters to new markets such as New Zealand is of high importance, and signing this (agreement) between EGFI and NZECO can facilitate and provide the ground for it. Moreover, this is a positive signal from the New Zealand government to its banks for restarting relations with Iranian banks,” EGFI’s chairman and CEO, Seyed Kamal Seyed Ali, said.

Zarif paid an official visit to New Zealand last week to meet the European country's officials on bilateral relations and mutual cooperation.

While in Wellington last Sunday, Zarif said there are great potentials for foreign direct investment in Iran, especially for financiers from New Zealand

As a stable country, Iran offers investment security in West Asia," Zarif said in a meeting with members of New Zealand's Middle-East Commercial Council in Wellington.

He said traders from New Zealand could invest in Iran's growing market of human resources, communication, transportation, tourism, agriculture, hi-tech, nanotechnology, oil, gas, and petrochemicals

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