Masoud Mir-Kazemi, the Iranian Oil Minister, expressed his country’s concern about the scarcity of investments in oil and gas sector in Iran. He said if the situation continues as it is now, Iran’s ability to continue exporting crude oil to other countries would be in danger. Mir-Kazemi accused Western countries to constrict pressure on Tehran through the tightening of sanctions on Iran’s energy sector and preventing foreign investment in the oil and gas sectors in the country in a move to limit Iran’s revenues in Dollar.
If we look at the exchange trade volume between Egypt and Iran, all indicators prove a modest trade exchange that does not reflect the size of the available potential between the two countries. The volume of bilateral trade between the two countries has long been moving at a slow pace. It is true that it has witnessed a remarkable development in the nineties, but it remained modest and erratic.
While the trade volume rose from about $ 2.6 million in 1992, and recently reached $ 120 million, those numbers are not commensurate with the volume of production or the total trade of the two countries. The first problem, according to an active Iranian forum, is the high level of poverty in both countries, which means weak purchasing power of the majority of the population in both countries. This imposes a priority in economic policies (state intervention, privatization, investment, the exchange rate regulation, etc.) that might be different if not incompatible between the two countries. Source: yallafinance.
