Iran signs a MoU with Malaysia

Economic MoU Signed With Malaysia

Iran’s Foreign Minister Manouchehr Mottaki and his Malaysia counterpart Rais Yatim signed a memorandum of understanding (MoU) on expansion of economic cooperation between the two countries.
The MoU was signed following the Seventh Iran-Malaysia Economic Commission meeting in Putrajaya, the country’s administrative capital, on Tuesday, IRNA reported.
Prior to signing the MoU, the two sides reviewed the latest developments at the expert level commission on the same day.
“Iran is regarded as one of Malaysia’s major trade partner,“ said the Malaysian foreign minister, adding that Iran is the third trade partner of Malaysia in terms of volume of bilateral trade exchange.
“Increase in trade between the two countries touched its highest level in the current year,“ he said.
SAA Oil Company has signed a deal valued at $16 billion for investment in the Iranian oil and gas sectors while Petronas Oil Company and automaker Proton Company are now pursuing different projects in Iran.
“A Malaysia construction company has been financed to construct some 10,000 residential houses in Iran,“ he said.
Yatim noted that other areas of mutual cooperation such as tourism, education, food industry, agriculture and exchange of skilled workforces were among issues discussed at the confab.
The Iranian foreign minister said the meeting is expected to help deepen and bolster ties and cooperation between the two countries.
“Expansion of relations with Malaysia in various fields, including international organizations such as the Organization of Islamic Conference (OIC) and Non-Aligned Movement (NAM) is of prime importance,“ he said.
“Trade volume between Iran and Malaysia increased by 33 percent to $880 million in the first six months of the current Iranian year (started March 20),“ he said, expressing hope that the figure would exceed $1.5 billion by the end of next year.
Mottaki also urged private sectors of the two sides to play a much more active role in implementing the projects.
“Iran possesses numerous assets and business opportunity,“ he said, citing the country’s unique geo-political status, oil and gas resources, easy access to Asian and European markets, major waterways such as Persian Gulf and Caspian Sea, ample labor force and suitable climate for investment.
“Iran’s access to peaceful nuclear energy is unavoidable for the Iranian nation which seeks sustainable development,“ he said.
Mottaki stressed that Iran is strongly opposed to any hostile actions or proliferation of weapons of mass destruction, and calls for durable peace and justice round the globe.


I posted this for 2 reasons. First reason being we just finished studying the Media Systems of Malaysia and second reason being this shows that Iran does go out their way to try to build allies outside of the middle east and the United States.

-Meka Brooks