Farzad Piltan pointed to the investment opportunities between two nations, saying for economic cooperation expansion, we consider special priority for South Africa.
He mentioned that investment opportunities in Iran Trade Development Organization have been planed in a way that two countries's whole capacities are identified and tapped.
The official spelt out a program for increasing trade volume between Iran and South Africa to one billion dollars by 2022 with the cooperation of economic departments of two countries' embassies.
"Although our target is 2 billion dollars trade volume, currently commercial exchange expansion program is aimed for one billion dollars", Piltan said.
Director General of the Arabic-African Trade Development Organization referred to Iran and south Africa's 70 million dollars trade volume in the previous year, adding investment development in technical and engineering services exports and expanding tourism capacities have been seen, expressing his hope that with the cooperation of two countries' state sectors, one billion dollars trade volume comes to true to by 2022.
Regarding two countries' economic goals in 2018, Piltan said they are in 20 axes, including exchanging trade delegations, establishing exhibitions to provide investment opportunities and strengthen two countries, exchanging economic teams and introducing Iran and South Africa's rules and regulations.
Piltan also pointed to the hurdles which are on the way of developing two countries's trade exchanges, mentioning the first barrier is in financial transactions and banking collaboration areas, expressing his hope that during the joint economic commissions of two countries and negotiations, banking problems are expected to be removed.
The second problem is in transportation sphere, despite Iranian shipping companies's enthusiasm to ship good to South Africa, their competition power has decreased due to a long route.
It is worth noting that Iran's export volume to South Africa in the previous year was 42.7 million dollars, added point Iran's import from South Africa was estimated 30.4 million dollars.
