Economy, Domestic Economy

Iran, Belarus Agree to Economic Roadmap

Iran, Belarus Agree to Economic RoadmapIran, Belarus Agree to Economic Roadmap

Tehran and Minsk agreed over an economic cooperation roadmap for 2016-17 on Wednesday during the 13th session of Iran-Belarus Economic Commission. Iranian Minister of Industries, Mining and Trade Mohammad Reza Nematzadeh and his Belarusian counterpart Vitaly Vovk signed the related document, IRNA reported. Stipulated in the document is the target to increase economic interactions between the two countries to $250 million annually, up from the current $75 million. The document encompasses agreements on bilateral trade and investments, transfer of advanced technology, holding exhibitions, production of biosensors and microprocessors via nanotechnology for the medical industry and joint production of tractors. “Based on the roadmap, the assembly lines for trucks and Maz passenger buses are to be inaugurated in Iran’s northwestern city of Tabriz in September,” said Nematzadeh. It was also agreed that the Iranian automobile Samand will be produced in Belarus while Belarusian heavy mining machineries are to be manufactured in Iran. Nematzadeh met with Andrei Kobyakov, Belarusian premier, later in the day and held a meeting with Iranian economic players and investors active in industrial, agricultural and development projects. “The government will lend its support to companies investing in Belarus,” the minister promised, adding that the completion of pending Iranian projects in Belarus is a government priority. Nematzadeh, heading a 50-member delegation comprising representatives of Iranian governmental, parliamentary and private sectors, entered Minsk on Wednesday to attend the two-day Iran-Belarus Economic Commission.