Iran has offered to sign an investment protection treaty with India and suggested doubling the bilateral trade to 30 billion us dollars by 2015. Iranian Economic Affairs and Finance Minister Seyed Shamsodin Hosseini said in New Delhi today that two-way trade had increased from 9.3 billion dollars to nearly 15 billion in last three years.<br/><br/>Speaking at a seminar on investment opportunities in Iran, he said hoped the two-day Commission meeting would help remove all barriers in the two-way trade and facilitate the flow of investments. He invited Indian firms to invest in mining, pharmaceuticals, transportation, automotive, textiles and agriculture sectors. <br/><br/>Hosseini added that Iranian government is planning disinvestment in several major firms like refineries and power plants, which could be a golden opportunity for Indian corporate groups to invest in Iran. He said that Iranian delegation had brought around 60 projects in several sectors for possible joint ventures. <br/><br/>Hosseini said Iran, which is New Delhi's second largest oil supplier, will provide sustainable energy security to India. He also said that Iran was ready to assist India in facilitating access to Central Asian nations. Our correspondent reports that the two countries today held first round of two day of talks on expanding bilateral economic cooperation in the 16th India -Iran joint commission meeting.<br/><br/> Foreign Secretary Nirupama Rao earlier this week said the Joint Commission meeting would provide fresh momentum to bilateral relations, especially the long-pending dialogue on energy and trade corridors in Central Asia and greater cooperation and information sharing on counter-terrorism. <br/><br/>The Commission meeting is taking place just a few days after New Delhi voiced concern over the unilateral sanctions imposed by individual countries against Iran and said these could have a direct and adverse impact on Indian companies and the country's energy security.
News On AIR | July 8, 2010 5:23 PM
Iran proposes investment protection treaty with India