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Iran, Malaysia can develop industry, trade: Advisor

Mashad, The economic advisor of Iran in Malaysia, said Iran and Malaysia can together develop industry and trade.

Ismail Sadat on Monday at a meeting of the Malaysian Investment delegate with economic activists in Khorasan Razavi in Mashad, said, 'From the Professional point of view the best country that can invest in Iran under the current conditions, is Malaysia and all obstacles in this way can be removed.'

He noted that the joint commission on economic cooperation between Iran and Malaysia has been formed with 6 committees of trade and investment, insurance and banks, information technology, energy and environment, logistics and transportation and health and tourism, and the insurance committee and bank and its logistics and transportation operations have been activated and a memorandum of understanding between the Central Bank of Malaysia and the Central Bank of Iran was signed last year.

The economic advisor of Iran in Malaysia said, 'The challenge in our country's international economy is Free Trade Agreement (FTA)' and noted that For example, if Malaysia has been able to demonstrate itself at very high levels, it is due to Malaysia's free trade agreement with neighboring countries, which can easily procure all its components from neighboring countries with simplicity.

'The only obstacle to Malaysia's major industrial investment in Iran is the free trade agreement, because when it comes to Iran, they have to send a number of parts to Iraq and Central Asia, but we do not have good free trade with any neighboring country,' he said.

Sadat noted that Malaysia has been very strong in the areas of marketing, finance and logistics, and it's well-functioned in the Halal food industry, which ranked first in the Halal food industry among 72 countries.

Source: Islamic Republic News Agency - IRNA

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