TEHRAN – The Islamic Republic of Iran is planning to open a trade center in South Africa in the near future, the country’s Trade Promotion Organization (TPO) announced in a statement.

“The Trade Promotion Organization of Iran intends to establish a trade center in South Africa in order to facilitate trade in the country’s market and to introduce the production and export capabilities of Iranian companies to their South African counterparts,” the TPO said in the statement published on the organization’s portal on Tuesday.

TPO invited all the businessmen and traders interested in working in South Africa to fill out a registration form to get in touch with the mentioned center and get the necessary support and information.

Back in August 2022, Director-General of TPO’s Africa Office Mohammad-Sadeq Qanadzadeh said TPO was planning to open seven new trade centers in African countries by the end of the current Iranian calendar year (March 20).

“So far, three business centers have been established in Africa, and we plan to increase this number to 10 centers by the end of the year,” Qanadzadeh said.

Earlier in June 2022, TPO Head Alireza Peyman-Pak said the country was taking the necessary steps to increase annual trade exchanges with African countries to $5 billion by the Iranian calendar year 1404 (begins in March 2025).

Peyman-Pak said the trade with the mentioned countries is expected to reach $2.5 billion by the end of the current Iranian calendar year.

Referring to the preparation of the country's trade development roadmap at the beginning of the work of the 13th administration, the official said: "In this roadmap, major factors including exports and the share of different sectors are specified, and in the case of Africa, the priorities and targets for trade with different countries and the requirements for reaching these targets are determined."

Peyman-Pak put the share of African countries in Iran's export basket at $1.2 billion, saying: "Africa's annual imports amount to about $580 billion, and our share of this figure is still small despite all the efforts. We have managed to export $1.2 billion to this market."

EF/MA