Archive | Industry

Iran, Iraq Ink 5 Agreements

Iran and Iraq signed five deals to promote cooperation in various fields on the first day of Iranian President Hassan Rouhani’s trip to Baghdad. In a meeting co-chaired by Rouhani and Prime Minister of Iraq Adil Abdul-Mahdi in Baghdad on Monday evening, top officials from the two countries signed five memoranda of understanding. The documents […]

Iran, Turkey Complementary in Many Areas: Minister

Turkish Minister of Transport and Infrastructure Mehmet Cahit Turhan highlighted the importance of his country’s relations with Iran and said the two nations can complement each other in various political, cultural and economic areas. Speaking at a ceremony in Ankara on Monday to mark the 40th anniversary of the Islamic Revolution’s victory, Turhan hailed the […]

Top Lawmakers Discuss Bolstering Iran-Japan Ties

Iranian Parliament Speaker Ali Larijani and President of Japan’s House of Councilors Chuichi Date explored avenues for the expansion of political and economic relations between the two countries. Larijani, who has travelled to Japan with a parliamentary delegation, met with Chuichi Date on Tuesday. In the gathering, the Iranian official hailed the age-old relations between […]

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Iran, Iraq Deal to Boost Cooperation in Electricity

High-ranking officials from Iran and Iraq on Friday signed two memorandums of understanding (MoUs) and a contract to boost cooperation between the two countries in the electricity industry. At the end of his three-day visit to Iran, Iraqi Minister of Electricity Luay al-Khatteeb signed two MoUs and a contract on the electric industry with Iranian […]

Iran’s Biggest Solar Power Plant Launched

Iran’s biggest solar power plant with a capacity to produce seven megawatts (MW) of electricity was inaugurated in the western province of Hamedan on Tuesday. The power plant came into operation during a ceremony attended by Iranian First Vice-President Eshaq Jahangiri and Energy Minister Reza Ardakanian in Hamedan on Tuesday. The renewable energy project has […]

US “Pressuring” European Firms to Limit Activity in Iran

The general secretary of the German-Iranian Chamber of Commerce said US officials are pressuring European companies to limit their business activities in Iran. “There is more passion from our American friends to create problems,” Michael Tockuss told the German business news weekly Wirtschaftswoche on Saturday. Those problems, Tockuss said, stem from direct pressure being applied […]

Up to 7000 German firms eager to Trade with Iran

By John Lee. The managing director of the German-Iranian Chamber of Commerce has reportedly said that up to 7,000 German business enterprises are believed to be seeking to continue trade with Iran. Michael Tockuss is quoted as saying: “Our estimate is that between 5,000 and 7,000 small- and medium-scale businesses are still after trade with […]

PM Urges Rapid Implementation of Iran Banking Deal

Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said Iraqi Prime Minister Adil Abdul-Mahdi has voiced “his firm support” for the banking deal reached between the two countries on Tuesday night and called for its rapid implementation. “After a long and four-hour meeting last night with the governor of the Central Bank of […]

Iran, Iraq “Finalize” Payment Mechanism

Governors of the central banks of Iran and Iraq signed an agreement to develop a payment mechanism aimed at facilitating banking ties between the two neighboring countries. The deal on the payment mechanism was signed in a meeting between Iran’s Abdolnaser Hemmati and Iraq’s Ali Mohsen al-Allaq in Baghdad on Tuesday night. Speaking at the […]

Iran Falls in Transparency Ranking

By John Lee. Transparency International has said that Iran’s ranking has fallen eight places in its global Corruption Perceptions Index (CPI). From a total of 180 countries, Iran came in at number 138; last year’s position was 130 out of 180 countries. This result puts it on equal ranking with Lebanon and Russia, ahead of […]

Iran Ranked 138th in Good Country Index

By John Lee. Iran has been ranked 138th out of 153 countries in this year’s Good Country Index, placing it just behind Tonga and Venezuela, and ahead of Antigua. Iraq was ranked last, with Libya second-last. The idea of the Good Country Index to measure what each country on earth contributes to the common good […]

New Mechanism to Facilitate Trade with Iran

French, German and UK Foreign Ministers today announced the creation of ‘INSTEX‘, a new mechanism for facilitating legitimate trade with Iran in order to preserve the Iran nuclear deal. Joint statement by the E3 Foreign Ministers Jean-Yves Le Drian (France), Heiko Maas (Germany), Jeremy Hunt (United Kingdom): “France, Germany and the United Kingdom, in accordance […]

Iran, Syria Sign 11 Cooperation Deals

High-ranking officials from Iran and Syria inked 11 agreements, including memorandums of understanding (MoUs), in a bid to boost cooperation between the two countries in diverse areas. The documents were signed during a meeting between Iranian First Vice-President Eshaq Jahangiri and Syrian Prime Minister Imad Khamis in Damascus. Nine MoUs were signed by Iranian and […]

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Iran-Switzerland Payment Channel Ready: Official

The head of Iran-Switzerland Joint Chamber of Commerce announced that a payments channel has been developed and prepared to be inaugurated in a bid to boost bilateral trade between the two countries. In remarks released on Wednesday, Sharif Nezam Mafi said the financial mechanism has been prepared and its operational features have been announced. The […]

Iraq “must not be Reliant on Iran”

By John Lee. The UK’s foreign office minister for the Middle East has reportedly said that Iraq must wean itself off economic reliance on Iran and become more energy self-sufficient. On a visit to Iraq on Sunday, Alistair Burt (pictured) told Reuters: “To expect Iran to have no influence in Iraq is fanciful … What […]

Ilam Refinery Suppling Quality Sulfur for Export

Ilam Refinery, which runs on sour gas, supplies valued items like quality sulfur, while injecting refined gas to the national distribution network for domestic consumption. According to the National Iranian Gas Company (NIGC), Shahryar Daripour, CEO of the refinery, said that over a billion cubic meters of gas was processed in the facility annually, adding […]

IFCC Indigenizes GHP System

Iran Fuel Conservation Company (IFCC) has domestically manufactured a geothermal heat pump (GHP) system. According to an official with the company, Aqil Barati, the system is highly energy efficient and plays a key role in reduction of greenhouse gases. Today, with the ever-increasing demand for air conditioning and, consequently, an increase in the need for […]

Iran Falls in Ease of Doing Business Index

By John Lee. Iran has been ranked 128th out of 190 countries in the World Bank‘s recent Doing Business 2019 report, down from 124th place the previous year. Top of the list were New Zealand, Singapore and Denmark, with last place going to Somalia, just behind Eritrea and Venezuela. Libya ranked 186th, with Iraq 171st. Doing […]

Official Hails Growing Trend in Iran’s Exports to Iraq

The secretary general of Iran-Iraq joint chamber of commerce highlighted an upward trend in the export of Iranian products to Iraq. In a meeting with Iranian and Iraqi trade delegations, Hamid Hosseini pointed to a growing trend in Iran’s exports to the Arab country, saying its daily value stands at $45 million and sometimes reaches […]

Iraq ‘Not Obliged’ to Abide by US Sanctions on Iran

Iraq’s foreign minister said that his country is “not obliged” to abide by sanctions imposed by the US against Iran and would be pursuing options to continue bilateral trade. On December 20, the US granted Baghdad a 90-day extension to a waiver on abiding by the sanctions that were re-imposed on the Islamic Republic in […]