(MENAFN) Malaysia’s Acting Chargé d’Affaires in Tehran, Mohd Nizam Halimi, said there are many opportunities to develop and increase trade between Iran and Malaysia.
Commenting in an interview conducted by the Tehran Times on the sidelines of a ceremony marking ASEAN Day 2022 in Tehran on Tuesday, Halimi said: “At the moment, trade relations between Malaysia and Iran are very good; last year, the total amount of trade was about six hundred million dollars.
“Most of the products from Malaysia are palm oil and our rubber products are also exported to Iran,” he added.
“There are many ways to improve and increase this trade, especially we can, I mean there are many areas where we can potentially cooperate in the field of tourism, scientific research and also activities cultural.”
He received a question about the main challenges in the way of trade between the two nations, the official replied, “Of course, apart from the sanctions which cause a lot of problems, there are challenges that we face not only for Malaysian companies but also Iranian companies coming to Malaysia.
“If I may say, one of the challenges apart from the banking restriction is also that we have to identify the type of products that we could import more from Iran, because at the moment the balance of trade is considered in Malaysia’s favor because of our export of palm oil and our exports of timber and rubber products.
“So we need to identify the specialty of Iranian products that Malaysia could import more into the country.”
Asked about the start of barter trade between the two restricted countries, he added: “Of course barter is one of the mechanisms we could look at to increase our trade with Iran, but as I I mentioned earlier, the challenges are to identify the products, if you want to import palm oil from Malaysia, we have to identify what type of product we could import from Iran under this barter mechanism.
“We don’t have a barter trade with Iran at the moment, but we are exploring the possibility and potential of having this barter trade as well.”
He also received a question regarding the possibility of Iran-ASEAN trade, Mohd Nizam Halimi replied, “We have a very good environment for economic cooperation with Iran.”
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