Asian tigers new costumers of Iran’s oil

ILNA: Iranian Oil Minister Bijan Namdar Zanganeh said that East and Southeast Asians countries and Asian tigers are the new consumers of Iran’s oil.

“These countries will increase their oil purchase requests from Iran in near future,” Zanganeh added.

“Other Asian countries like Japan are not likely to increase their oil purchase,” he said.

Zanganeh went on to note that India has stopped negotiations over joining the peace pipeline project.

“India is a reliable partner for Iran so we can’t ignore the country’s oil and gas market,” he added.

The Asian Tigers, or Asian Dragons, is a term used in reference to the highly free and developed economies of Hong Kong, Singapore, South Korea and Taiwan. These nations and areas were notable for maintaining exceptionally high growth rates in excess of seven per cent a year and rapid industrialisation between the early 1960s and 1990s.

By the 21st Century, all four have developed into advanced and high-income economies specialising in areas of competitive advantage. For example, Hong Kong and Singapore have become world-leading international financial centres, whereas South Korea and Taiwan are world leaders in manufacturing information technology. Their economic success stories have served as role models for many developing countries, especially the Tiger Cub Economies.

By ILNA

 

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