Two of the world largest oil producers, Iran and Kuwait, plan to adopt measures that will improve bilateral trade ties, reported the Opecna Bulletin, quoting Mojtaba Ferdousi-Pour, Iran's economic attache in Kuwait.
Toward the end of October the joint Iran-Kuwait trade committee will meet for the fourth time and the joint shipping committee will meet for the third time, both in Tehran. Also in October, Iran will hold its ninth national trade fair in Kuwait. More than 80 Iranian companies are expected to participate.
Ferdousi-Pour said the trade committee had registered significant progress in a number of areas, including customs and banking cooperation, visa regulations and trade exhibitions. Bilateral trade between Iran and Kuwait rose 22 percent in 1999, compared to the amount reported a year earlier, to stand at about $100 million, according to IRNA, Iranian news agency.
Ferdousi-Pour said that thus far the joint shipping committee had reached agreements on the export of engineering services, building and repairing vessels, a reduction in port fees, and elimination of tolls on passenger transportation between the two states.
Ferdousi-Pour noted that at the 26th Tehran international trade fair, 79 Kuwaiti companies had participated. – (Albawaba-MEG)
© 2000 Mena Report (www.menareport.com)