Economy Minister: Iran to have highest regional growth next year

Istanbul, Nov 26, IRNA – Based on specialize international economic forecasts, Iran next year is going to herald the highest economic growth accrossthe region extending from north of Africa to the Middle East, said Ali Tayyeb-Nia, Minister of Economic Affairs and Finance.

‘The international experts foresee a bright future for Iran’s economy,’ Tayyeb-Nia told the IRNA on Wednesday on the sidelines of the ministerial meeting of the Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC).

Following of the removal of sanctions, Iran will be able to enjoy new possibilities and access to foreign resources inaccessible otherwise as a result of sanctions, he said.

‘This will open up possibilities for the Islamic Republic to export more oil and at the same time sell its oil in advance,’ he said, adding that the removal of sanctions will also boost Iran’s banking, insurance and shipping sectors.

‘All these factors will surely have positive and meaningful effects on Iran’s economic growth and they will help us better deal with inflation and recession,’ he said.

COMCEC is one of four standing committees of the Organisation of Islamic Cooperation (OIC).

It was established in 1981 at the Third Islamic Summit Conference held in Mecca/Ta’if and serves as a multilateral economic and commercial cooperation forum in the Islamic world.

The committee convenes annually at ministerial level in Istanbul under the Chairmanship of the President of Turkey.

Tayyeb-Nia is expected to leave Turkey for Iran on Friday.