Iran, Netherlands sign Economic Plan of Action for 2018

Senior ministerial officials from Iran and the Netherlands signed a joint plan of action on the expansion of bilateral economic ties in the coming year. In a meeting in The Hague on Friday, Iran’s Deputy Economy Minister Mohammad Khazaee and his Dutch counterpart signed the plan of action for 2018, which entails cooperation in eleven […]

Qatar, Iran Boosting Trade, “Benefiting from Blockade”

The move by Iran to increase bilateral trade with Qatar, following a Saudi-led blockade, has benefited the two countries, according to an expert. “Trade between Iran and Qatar increased by 117 percent in less than six months and it shows the short-term effect of this crisis and bodes well for both countries in the long […]

Long road ahead for Iran’s Medicinal Plants Industry

By Maysam Bizaer for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The world has seen great advances in medicine in recent centuries, leading to the discovery and manufacture of numerous types of drugs to cure diseases. Yet many around the world still prefer to use plants and natural […]

Iran moves to stamp out Corruption in Customs

By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran moves to stamp out Corruption Opportunities in Customs Government officials and investors all agree that Iran needs to improve its business climate to attract the needed investment for job creation. One of the phenomena that can […]

Iran, Brazil Sign Research Cooperation Deal

Officials from Iran and Brazil signed a memorandum of understanding on academic and research cooperation in cognitive sciences. The cooperation agreement was signed between Kamal Kharrazi, secretary of the department on development of cognitive science and technology at the Vice-President’s Office for Science and Technology Affairs, and the representative of CAPES, a foundation within Brazil’s […]

Oil Minister Slams Pakistan’s Inaction on Gas Deal

Iranian Oil Minister Bijan Namdar Zanganeh highlighted the problems facing the completion of a long-awaited gas pipeline between Iran and Pakistan, saying that Islamabad has no clear answer about its plans for “the valid gas contract”. Speaking to reporters after his meeting with Hungarian Economy Minister Mihaly Varga, Zanganeh said Hungary has experience in the […]

Video: Is the Iran Deal set to Unravel?

While the Iran nuclear deal was hailed as a “triumph of diplomacy” by its supporters around the world, US President Donald Trump called it “the worst deal ever”. He recently decided to officially “decertify” the deal formally known as the JCPOA, the Joint Comprehensive Plan of Action, between Iran six world powers and the EU […]

Saudi Reforms put Spotlight on Iran’s Women’s Movement

By Leila Alikarami, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Saudi Arabia attracted significant media attention when it announced that it would finally allow women to drive as of June 2018. It was also announced later that women will be allowed into some of the […]

Iran Up (Slightly) in Prosperity Index

By John Lee. Iran has risen one place in this year’s Legatum Institute Prosperity Index, ranking in 117th place out of the 149 countries measured. The index ranks countries according to its nine pillars of prosperity: Economic Quality, Business Environment, Governance, Personal Freedom, Social Capital, Safety and Security, Education, Health and Natural Environment. According to […]

Iran’s Power Generation Capacity Nears 78,000 MW

Iran’s nominal capacity to produce electricity has reached about 78,000 megawatts (MW) following the connection of a number of power plants to the country’s national grid over the past two weeks. The country’s overall nominal capacity to generate electricity has increased by 381 MW over the past two weeks, reaching 77,987 MW. During the mentioned […]

Iran Plans 15mt/y Methanol Export by 2022

Iran will be exporting 15 million tons/year of methanol by 2022, an Iranian petrochemical official says. Addressing a specialized conference on nitrogen and synthesis gas, Managing Director of Tamin Petroleum & Petrochemical Investment Company (TAPPICO) Mohammad Hassan Peyvandi said Iran has plans to boost its methanol exports and propane production by the next 5 years. […]

Iran to transfer Vegetable Farms to Greenhouses

By John Lee. Iran reportedly plans to transfer all vegetable farms to greenhouses within the next 10 years. The Ministry of Agriculture intends to increase the country’s greenhouse area to more than 48,000 hectares by the end of 2025, up from 12,157 hectares currently. It expects to produce 21 million tons of agro products annually […]

Earthquake Response shows Iranians’ Nationalism, Mistrust of Authorities

By Saeid Jafari for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. A powerful 7.3 magnitude earthquake struck an area straddling the Iran-Iraq border on Nov. 12. Iran’s western province of Kermanshah was the hardest hit with over 400 fatalities. Sympathies immediately began pouring in from […]

Iran to sign Preferential Tariff Deal with EEU

By John Lee. Iran and the Eurasia Economic Union (EEU) have reportedly finalized negotiations on a preferential tariff agreement. Addressing a meeting of Iranian and Armenian businessmen in Yerevan on Tuesday, Iranian Foreign Minister Mohammad Javad Zarif (pictured) said: “The establishment of EAEU-Iran cooperation can ensure progress in the development of Armenian-Iranian economic ties.” Edward […]

Turkish-Iranian Gold Trader Pleads Guilty

By John Lee. Prosecutors in the United States have reportedly revealed that a wealthy Turkish-Iranian gold trader has agreed to testify about what is claimed to be a “vast corruption scheme they say reached into the upper levels of the Turkish government.“ Associated Press says that Reza Zarrab (34) is expected to outline how he […]

Uzbekistan Keen to Invest in Iranian PetChem Projects

Uzbekistan has expressed willingness to invest in Iran’s petrochemical projects, the managing director of Iran’s National Petrochemical Company (NPC) said. Tashkent is eager to make investment in Iran’s petrochemical projects, methanol-to-olefin projects in particular, Reza Norouzzadeh said recently following a meeting with Alisher Sultanov, deputy Prime Minister of Uzbekistan, in Tehran, Shana reported. Two Iranian […]

Sharp Decline in Iranian Steel Imports

By John Lee. Platts reports that Iranian steel imports fell 33 percent to 1.2 million mt in the first seven months of the year (April-October), citing data from the Iranian Steel Producers’ Association (ISPA). Over the same period, only 26,000 mt of semi-finished products were imported, a fall of 83 percent, along with 501,000 mt […]

Iran “Keen on Keeping Ties” with Norwegian Shipbuilders

An Iranian tanker official says facilitating banking relations between Iran and Norway is a necessity for boosting ties of the two countries in shipbuilding industries, voicing Iran’s keenness to maintain relations with Norwegian shipbuilders. Addressing the Iran-Norway Bilateral Maritime Opportunities conference in Oslo on Thursday, Managing Director of the National Iranian Tanker Company (NITC) Sirous […]

Foreign Trade Hits $60bn in 8 Mths

Iran’s trade with foreign countries during the first eight months of the current Iranian year (began on March 20) surpassed $60 billion, the latest data released by the country’s Customs Office showed. Iran’s foreign trade over the past eight months reached $60.907 billion, indicating an eight percent increase compared to the same period last year, […]

Iranian, Qatari Ministers Discuss Enhanced Economic Ties

Iranian Foreign Minister Mohammad Javad Zarif and Qatari Minister of Economy and Trade Sheikh Ahmed bin Jassim bin Mohammed Al-Thani in a meeting in Tehran explored avenues for the enhancement of economic and trade relations between the two nations. During the meeting on Sunday, the two sides conferred on the latest situation of economic and […]