Head of the Iran-Singapore Joint Commercial Committee says in the past years the trade balance between Iran and Singapore has been mostly in favor of Singapore and in this period, Iran’s exports to Singapore have been limited to the limited amount of the non-oil items of dried-fruits, pistachio, dates and fig.
Speaking to ILNA, Amir-Hooshang Birashk talked about the current trend of trade between Iran and Singapore and said Singapore is one of the most developed countries of ASEAN which has achieved huge success in the field of foreign trade by using re-export. He added that in the past years, the trade balance between Iran and Singapore has been mainly in favor of Singapore and Iran’s exports have been limited to few non-oil goods.
He added that Iran’s imports from Singapore last year were around $531m which shows the decline over $300m comparing to its preceding years and the international sanctions has been the main reason for the decline.
Birashk then pointed to some programs for developing ties between Iran and Singapore and said that one of the programs is to restore relations between the parallel organizations and bodies of both countries and signing the MoU for beginning the joint cooperation.
He added the other plan is to determine the priorities for cooperation, adding that the plan for launching the Iran-Singapore Trade Office is in line with the plan for easing cooperation and developing ties.
He reiterated that the office is aimed at developing some issues like the barter trade. He went on to say that other plans on the agenda are like devising a plan for long-term cooperation of 5 to 10 years which is aimed at producing joint products under license of Singapore or producing products with the joint brand.