Iran wishes to have sanction-independent comprehensive ties with S.Korea
By Fatma Babayeva
South Korean President Park Geun-hye has arrived in Tehran for an official visit.
It is the first ever visit in the history of the bilateral relation when the South Korean president visits Iran, IRNA news agency reported.
The South Korean president is heading a large business delegation of over 230 executives during his three-day visit to Tehran.
Iranian and South Korean officials signed 19 memorandums of understanding on the sidelines of the meeting between Iranian and and South Korean presidents on May 2, Iran's state-run IRINN TV reported.
Overall cost of the contracts signed between the two countries is expected to amount from $13 to $17 billion.
The two countries plan to cooperate in various fields including oil, gas and petrochemical, energy, transport, technology, insurance and banking, construction, health system, as well as, custom, legal and cultural issues.
Moreover, the Islamic Republic and South Korea have decided to sign 15 MoUs in the areas of water and power systems. It is worth mentioning that South Korea is among the largest importers of Iranian oil.
Overall, trade turnover between Iran and South Korea stood at $6.1 billion in 2015 while the figure was $17.4 in 2011 before sanctions were imposed against Iran by the Western countries.
In addition, Iran and South Korea plan to increase bilateral trade from current $6 billon per year to $18 billion, President Hassan Rouhani said to IRINN TV during the press conference with his visiting South Korean counterpart on May 2.
He stated that Iran and South Korea will upgrade the mutual
trade ties to strategic economic relations.
In this regard South Korean firms will invest in Iran and their
activities in the Islamic Republic will be accompanied with
transfer of technology into the country.
Under the newly signed documents, the South Korean entrepreneurs will work in Iran's energy, mining and infrastructure sectors.
Peace wanted for Korea peninsular
The Iranian president stressed that the Islamic Republic wants
peace and stability in Korea peninsula.
Security in the peninsula, as well as, in the Middle East is
important for mutual ties between Seoul and Tehran, he added. Iran
is against production of all kinds of weapons of mass destruction,
especially in the Middle East and Korean peninsula.
President Rouhani further mentioned that they negotiated regional issues including crisis in Yemen and Syria with his South Korean counterpart.
Iranian official says South Korea will finance 1 billion euros steel projects in the country, said Mehdi Karbasian, Iranian Deputy Minister of Industries, Mines and Trade to the Tasnim news agency on April 30.
Iran eyes to import the new technology for directly convert of iron ore into steel based on the MoU, Karbaisan said by adding that two plants in South Korea are currently using the technology.
What's more, a direct flight will be launched by the end of this year, according to Kang Ho, South Korean Minister of Land, Infrastructure and Transport.
Moreover, South Korean energy giant KOGAS signed 3 deals with National Iranian Oil Company to explore development opportunities in the gas fields of the Persian Gulf.
Supreme Leader of Islamic Revolution Ayatollah Seyed Ali Khamenei believes that the bilateral ties with South Korea should be independent from sanctions, influence and sabotage of the U.S.
The cooperation and exchange of experience between the two countries in various scientific, technological, political, social and security domains will benefit both sides, he added.
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Fatma Babayeva is AzerNews’ staff journalist, follow her on Twitter: @Fatma_Babayeva
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