Economy, Domestic Economy

Swiss Firm to Set Up Tea Factory

Swiss Firm to Set Up Tea FactorySwiss Firm to Set Up Tea Factory

A Swiss company has signed a contract with an Iranian firm to invest in Iran’s tea industry, said a member of the Association of Distribution Companies, without identifying the company.  “As stipulated in the contract, the Swiss party is responsible for expenses related to advertising, construction of the factory and the entire production process,” Javad Zahiri added. According to Zahiri, the contract was signed immediately after the lifting of sanctions against Iran on Jan. 16, when the International Atomic Energy Agency confirmed that Iran had limited the scope of its nuclear program, Mehr news Agency reported. Zahiri noted that Iran is the fourth biggest tea consumer in the world and 40 to 60 tons of tea are smuggled annually into the country.