The Australian government said on Sunday it plans to allocate $5.3 million to re-launch its trade office in Tehran following a lasting nuclear deal between Tehran and world powers.
According to a report carried by Dynamic Export website, Canberra will provide $5.3 million over the next four years for the reopening of its trade office in the Iranian capital.
The office, which closed in 2010, will be located within the Australian Embassy in Tehran and operated by the Australian Trade Commission, it added.
Earlier, Australia’s Trade Minister Steven Ciobo said Iran has significant economic potential for Australian exporters.
“It is a large regional economy with a GDP of around US$400 billion, a population of 80 million people and has some of the world’s largest reserves of oil and gas,” he said.
(Source: Tasnim, under Creative Commons licence)