Iran, Austria Sign Contracts Worth $500m
Iran has signed with Austria contracts worth $500 million, reported Iran Daily Thursday.
Iranian Industries Minister Gholamreza Shafei was quoted by the Iranian newspaper as saying that the two countries signed contracts in different fields, but the most important contract, valued at $200 million, was related to the construction of a reservoir dam in Iran.
The fifth session of Irano-Austrian Economic Cooperation Commission wrapped up on Tuesday in the presence of Shafei and Austrian Minister of Economy Martin Bartenstcin, the daily said.
"Last year. the value of trade exchanges between the two countries reached $260 million, the bulk of which comprised Austria's exports to Iran," the Iranian minister told the daily.
Shafei went on to say that increasing Iran's exports to Austia and the European Union calls for trade and customs agreements with the union, which has not materialized as yet.
The reformists-dominated Iranian parliament is seeking to revitalize the country’s economy though enacting modern economic laws that pave the way for foreign investments – Albawaba.com
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