Economy, Domestic Economy

Iran, Poland Sign MoUs to Bolster Trade Ties

Iran, Poland Sign MoUs to Bolster Trade TiesIran, Poland Sign MoUs to Bolster Trade Ties

Iran and Poland have signed three memorandums of understanding to promote bilateral trade relations.

Polish Chamber of Commerce signed two preliminary agreements with Iran’s Social Security Company and Iran Chamber of Commerce, Industries, Mines and Agriculture, IRNA reported.

The third MoU pertains to mutual cooperation in the energy sector.

The two sides agreed to broaden trade ties by exchanging economic delegations, holding trade fairs and increasing cooperation between private businesses.

The MoUs were signed in a joint economic forum held in Warsaw’s Sofitel Hotel on Monday.

As many as 180 business players from Iran and Poland attended the event to discuss challenges and opportunities in the way of the two countries' private sector partnership.

Iranian Foreign Minister Javad Zarif, Polish Undersecretary of State Pawel Chorazy, deputy governor of Central Bank of Iran, Mehdi Goudarzi, head of ICCIMA, Mohsen Jalalpour, and Secretary-General of Polish Chamber of Commerce Marek Kloczko were on hand at the forum.

A delegation of 60 top executives of Iranian private sector enterprises, active in the sectors of oil and gas, transportation, mining, cellulose, metals, food and agriculture, plastics, hand-woven carpets, information technology and banking, accompanied Zarif, who arrived in Warsaw on Sunday to start a European tour.

Zarif will also visit Finland and Sweden before concluding his trip in Latvia on June 2.

AFP described the Iranian delegation’s Europe visit as an "EU trade drive” and one of Tehran's first moves to drum up business with the West after the lifting of sanctions earlier this year.

“I’m convinced that our [Warsaw] ambassador’s wish for our annual bilateral turnover to reach $1 billion will materialize,” the agency quoted Zarif as saying in a joint press conference with his Polish counterpart Witold Waszczykowski.

Annual trade between Poland and Iran has been as little as $70 million in recent years due to international sanctions over Iran's nuclear program.