Africa a prime choice for investment, economic exchange

Zahedan – Masoud Berahman, the Chairman of the Iran-Africa Joint Chamber, said that the economic and commercial cooperation potential with Tanzania presents a win-win situation for both nations.
In a speech delivered on the sidelines of a seminar introducing economic and commercial cooperation opportunities with Tanzania, Berahman emphasized the need for Iran to create diverse export markets given the country's capabilities in terms of goods and technical services. He highlighted neighboring countries, Latin America, and Africa as promising options for Iran.
Discussing the advantages of trade with the African continent, he noted that Africa's total trade, including imports and exports, amounts to $1.5 trillion, a figure that does not account for the value of technical services. He added that under the 13th administration, Iran's trade with Africa has increased from $600 million to $1.3 billion, thanks to the economic diplomacy of the Ministry of Foreign Affairs, the cooperation of the Trade Development Organization, and the African Chamber of Commerce.
Berahman emphasized that Iran's potential in the African market is much higher than the current figures, stating that while Iran's non-oil exports stand at $60 billion, the estimated potential is $360 billion. He attributed the underutilization of the African market to a lack of information among economic actors.
He proposed barter as a means to address currency exchange challenges in trade with Africa. He also expressed the chamber's readiness to provide consulting services to companies interested in exporting or importing raw materials, enabling them to secure a significant share of the African market.
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