Iran Malaysia

Post-sanction Iran, Malaysia trade volume to hit $1 billion

Tehran, May 11, IRNA – Following the removal of sanctions against Iran, Malaysia is intended to help increase the volume of trade exchanges with the Islamic Republic to $1 billion, says a Malaysian trade official.

‘We will try to raise the level of trade exchanges between the two country to one billion dollars,’ said Managing Director of Malaysia External Trade Development Corporation Dato’ Dzulkifli Mahmud on Tuesday.

‘Malaysia’s trade and industrial companies are keen to enter Iran’s market, said Mahmud on the sidelines of an Iran-Malaysia trade conference.

According to him, the current level of trade exchanges between the two country stands at 532 million dollars.

For the present year, we predict a 20 to 30 percent rise in the level of trade exchanges between Tehran and Kuala Lumpur, the official said.

Malaysia can facilitates Iran’s access to the Association of Southeast Asian Nations (ASEAN) market, Dato added.

He also said that Kuala Lumpur is keen to use Iran as a hub for exporting Malaysian commodities to the neighboring states in the region.

The official said there is good potentials for Tehran-Kuala Lumpur cooperation in fields of tourism, aviation and shipping.