Singapore urges further expansion of ties with Iran

TEHRAN, Jan. 26 (MNA) – Head of International Trade Department in Singapore Business Federation (SBF) urged further expansion of trade relations with Iran.

Chairman of SBF’s international trade department Kudi Lee told IRNA that lifting imposed sanctions against Iran would promote trade ties between the two countries.

Next week, a group of Singaporean businessmen will travel to Tehran to study the investment opportunities in Iran. The delegation, led by vice president of Singapore Business Federation will stay in Iran until February 5 to meet Iranian businessmen and company holders and discuss promotion of bilateral relations.

Iran-Singapore relations have been developed since President Rouhani took office. Members of Iran-Singapore Parliamentary Friendship Group traveled to Singapore in December and met with high-ranking officials of the country.

Exceeding $5.6 billion in 2011, bilateral trade exchanges reduced to $2 billion and 100 million in 2012 due to the West’s unilateral sanctions.

By Mehr News Agency

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