Tehran noted the huge untapped potential between Iran and South Africa

Almaty. November 9. Silkroadnews - First Vice President of Iran Iskhak Jahangiri stressed that Iran attaches great importance to the further development of economic relations with Pretoria, reports IrTAG.
However, at the same time he expressed his dissatisfaction on the current level of bilateral relations in the economic field and urged to make all necessary efforts to expand mutually beneficial trade and economic relations between the two countries. He pointed to the huge untapped potential between Iran and South Africa in areas such as mining, financial and banking sector, agriculture, insurance and energy.
In turn, Vice-President of South Africa Ramafosa Kirill pointed to the need for the development of banking cooperation, and noted that this step will help to attract direct investment into the economy of both countries.
Also, during the meeting, parties signed three agreements on the expansion of cooperation between the two countries in the sphere of establishing a joint capital market, strengthen the engineering collaboration and deepening trade contacts between the business communities of Iran and South Africa. In addition, the parties agreed to establish a joint center for the exchange of information for more effective anti-money laundering and financial transparency.