TEHRAN – The Head of Trade Promotion Organization of Iran (TPOI) Alireza Payman-Pak has said that bilateral trade between Iran and Africa would hit $5 billion by the end of 2025.
Payman-Pak said that trade value exchange between Iran and Africa will reach $2.5 billion by the end of the current year in 1401 (March 20, 2023).
Turning to the achievements gained as a result of the visit of the Nigerian trade and economic delegation to Tehran, the TPOI chief said that the visit was made in line with organizing the 6th Iran-Nigeria Joint Economic Commissions meeting in Tehran.
During the meeting, trade officials of the two countries of Iran and Nigeria inked the main document and also eight subsidiary cooperation agreements in various cultural, tourism, oil, agricultural, sports, trade, tourism, aviation fields, etc.
Elsewhere in his remarks, Payman-Pak pointed to Nigeria’s $100 billion worth of trade and added, “Although the economy of the two countries is complementary to each other, Iran’s volume of trade exchanged with this African country last year hit $125 million.
TPOI is planning to boost its trade and economic ties with Nigeria in the current year, he underlined.
Referring to the compilation of a roadmap for expanding bilateral trade at the beginning of the 13th government under President Raisi, Payman-Pak added that effective steps have been taken in line with enhancing the export volume of products to this African country.