Iran’s IDRO shows interest in industrial co-op with Spain

Iran’s IDRO shows interest in industrial co-op with Spain

The Industrial Development & Renovation Organization of Iran (IDRO) is interested in cooperation with Spanish companies in the fields of industry and finance.

The issue was discussed at a meeting of a delegation from Spain’s Chamber of Commerce, on a visit to Iran, with Ali Araqchi, deputy head of IDRO on international affairs, the IDRO official website reported.

During the meeting Araqchi briefed José Vicente González, the director of international affairs at the Spanish Chamber of Commerce, about the IDRO activity in various sectors, in particular, in the field of rail industry.

González, for his part, discussed the ways for industrial cooperation between Iran and Spain and investment in various sectors including oil and gas, auto industry and ship-building, as well as training of the managers involved in the industrial sector.

The sides agreed to review the process of signing mutual cooperation agreements and explore the ways of investment and financing joint projects.

The government-owned IDRO's objective is to develop Iran's industry sector, accelerate the industrialization process of the country and export Iranian products worldwide. Today, the organization owns 117 subsidiaries and affiliated companies both domestically, as well as internationally active in various sectors including oil, gas, automotive, industrial equipment machinery, marine, railway, and etc.

According to the Eurostat data, covering the nine months ending September 2017, Spain was Iran’s fourth biggest trade partner in the EU. Bilateral trade stood at $1.234 billion with Iran's exports accounting for $957.9 million.

World media monitoring



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