TEHRAN – Iran and Belarus are considering joint production and export of petrochemical products, as the two countries are taking serious steps for the expansion of economic ties.

In a gathering of Iranian and Belarusian officials and private sector representatives at the place of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA), the two sides explored avenues of mutual cooperation and presented some suggestions for the expansion of ties.

The meeting was attended by TCCIMA Deputy Head for International Affairs Hesamedin Hallaj, TCCIMA Secretary General Bahman Eshqi, Belarusian Ambassador to Tehran Dmitry Koltsov, and Deputy Head of Belarus state oil company Belneftekhimas Vladimir Sizov, as well as heads of some renowned energy companies from the two sides.

Addressing the meeting, Eshqi said Iran’s National Development Fund is ready to support a project for developing new petrochemical plants in Iran with the participation of the TCCIMA and with the cooperation of foreign investors.

“Considering the ease of access to natural gas in Iran, a joint project should be defined for the production of petrochemicals from gas with the aim of export,” he said, adding that the products of the mentioned plant can be exported through Turkey.

“This way, a triangle of petrochemical production and export of Iran, Turkey, and Belarus can be formed,” the official suggested.

Elsewhere in the meeting, Hallaj also stressed that Iranian companies are also eager to cooperate with Belarusian counterparts in other fields including automobiles, agriculture, the food industry, and communication technology.

"The Tehran chamber of commerce is trying to continue facilitating the exchange of business delegations so that the private sectors of the two countries can learn about each other's capacities," Hallaj said.

In this gathering, the businessmen of the two countries held B2B talks to get to know each other's capacities and potentials and to examine common fields of cooperation.

Negotiations on oil equipment exports to Belarus

Iran is also in talks with Belarus for supplying raw materials, equipment, and technology needed in the oil industry to the country, a senior official from National Iranian Oil Company (NIOC) said.

According to Borzou Ghanbari, a delegation from Belarus had visited Iran for talks on joint projects to manufacture oil industry equipment and to supply such equipment to the country.

Ghanbari said Iranian private manufacturers of oil industry equipment had been represented in the discussions.

“Fortunately, domestic manufacturers have a very good potential to produce and supply items needed in Belarus and we can easily respond to their needs,” the official was quoted as saying by the Iranian Oil Ministry’s news service Shana.

Ghanbari said he envisages a promising future for oil industry cooperation between Iran and Belarus mainly due to the fact that Iranian oil engineering firms can supply modern equipment and technology at prices that are cheaper than those offered by international rivals. 

He said the two sides will soon appoint special envoys to expedite oil industry cooperation projects.

The talks come amid growing economic relations between Iran and Belarus. A high-profile delegation led by the head of Iran’s Industry, Mining, and Trade visited Belarus in July to discuss avenues for increased trade and economic ties between the two countries.

An Industry Ministry report in September said Iran and Belarus were in the final stages of talks to sign a deal to manufacture heavy-duty mining machinery, a project the ministry said could boost Iran’s mining output by at least 40 percent per year.

EF/MA