Oil min. calls for short-term trade activities with Malaysia

TEHRAN, May 04 (MNA) – Iran’s minister of oil has proposed joint venture between Iran and Malaysia in short-term trade transactions.Following a meeting with Malaysian Foreign Minister Dato’ Sri Anifah Aman in Tehran on Tuesday evening, Iranian Oil Minister Bijan Zanganeh said “given that oil exports to the Southeast Asian country has not begun yet, we recommended launching of short-term business proceedings between the two sides.”

Malaysia’s Petronas oil and gas company together with Total of France were present in Iran’s South Pars phases 2 and 3 as well as implementation of gas projects since 1997, but they left the country due to implementation of sanctions.

In response to a question whether Malaysia’s withdrawal from Iranian projects would be subject to fines, Zanganeh said “there exists not such a thing as fine since the companies’ leave-taking would not cause any damage in the legal sense; rather, economic sanctions bring about losses to a country in macroeconomic terms.”

“Malaysian firms have voiced readiness to participate in Iran and the two parties’ companies with soon launch talks on existing agreements,” he continued.

The official recalled that “conditions have changed as a fresh round of negotiations are being initiated between Iranian and Malaysian companies.”

Zanganeh further enumerated the issued discussed at the meeting including trade, crude oil and oil products, oil and gas field development as well as investment in downstream industries.

A total of 15 Malaysian oil and gas companies arrived in Iran to attend the to take part in the 21st Oil, Gas and Petrochemical Exhibition IRAN OIL SHOW 2016 which is to take place 5 – 8 May 2016 in Terhan.

By Mehr News Agency