Iran and South Korea strengthen trade ties

Iranian President Hassan Rouhani says Iran and South Korea must make use of their great potential to expand their strategic relations in all sectors.
“The Islamic Republic of Iran is ready to draw up the framework for long-term and strategic relations between Tehran and Seoul in line with the development of investment and joint economic projects,” Rouhani said in his address to an Iran-South Korea high-level forum attended by South Korean President Park Geun-hye in Tehran on Monday.
He added that Iran holds a strategic view to South Korea as an important country in East Asia.
The two countries must increase their exchanges to $18 billion in the first step and then to $30 billion, Rouhani said, stressing the importance of extending facilities and removing hurdles to obtain this goal. He noted that Iran’s southern ports including the port city of Jask off the Sea of Oman are suitable ground for joint venture projects.
The South Korean president, for her part, said the two countries should use their potentialities to improve relations in different sectors. Park added that Seoul plans to allocate $25 billion to different infrastructure projects in Iran in a bid to support the expansion of bilateral cooperation.
She noted that the new round of bilateral cooperation would focus on investment, research and development and joint manufacturing.
She stressed the importance of maintaining regional peace and stability and commended Iran’s role in promoting tranquility in the Middle East.
The South Korean president arrived in Tehran on Sunday for a three-day official visit to strengthen political and economic relations between the two countries.