KUALA LUMPUR: The National Chamber of Commerce and�Industry of Malaysia (NCCIM) has urged the government to send a high-level visit�to Iran to enable Malaysian businesses to make inroads into its market.

Its Secretary-General, Datuk Seri Syed Hussien Al Habshee said it was aware�that Foreign Minister Datuk Seri Anifah Aman visited Iran in May 2016, followed�by a business delegation led by Malaysia External Trade Development Corporation�(MATRADE).

"Concerns and fears surrounding Malaysia-Iran bilateral banking risks need�to be resolved - and perhaps, the much earlier signed Bilateral Payment�Arrangement (ought to) be put back into operations to facilitate trade�development," he said in a statement today.

While applauding the government's efforts, NCCIM said Malaysia could still�unleash a more coherent strategic thrust in seeking opportunities in Iran.

"Hence, a high-level visit by the government accompanied by captains of�industry, will add impetus in the pursuit of economic opportunities, he added.

It is reported that Iran records a healthy and robust annual growth of six�per cent, while the World Bank expects it will grow nearly seven per cent in�2017.

"The lifting of trade sanctions on Iran is set to ignite the interest of�many countries to embark on a high-level government delegation to tap into the�opportunities," Syed Hussien said.

Boasting the world's fourth largest oil reserves and world's second largest�stock of gas reserve, he said Iran's oil and gas accounts only ten per cent of�its gross domestic product at the moment.

"Even before the actual lifting of sanctions, Iran had been receiving�high-level visits from 26 countries, including Russia, China, South Korea,�Vietnam, and Pakistan.

"It was reported that Iran-China were in discussions for over US$600�billions of economic deals, covering a timeframe of 10 years and Korea's visit�memorandum of understanding has led to deals worth about US$37 billion were�signed," he added.

By Astro Awani