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Our Bureau

Energy sector could develop as key area for future ties

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Hyderabad Jan. 22 An 18-member Iranian delegation is on a three-day mission here to promote trade and cultural relationship between Iran and India.

The two countries had complementary interests in the energy sector, which could develop as a strategic area of future relationship. Investments in upstream and downstream activities in the oil sector, LNG\natural gas tie-ups and securing modes of transport, are promising areas, said Mr C.V. Hariharan, Co-chairman Tourism and Member Foreign Trade Committee, Federation of Andhra Pradesh Chamber of Commerce and Industry (FAPCCI).

'Immense potential'

Speaking at an interactive meeting with the Iranian delegation, he said there was immense potential for cooperation in the areas of railways, telecommunication, water and power sector, paper and pulp, textile, cement, human resource development by training and skill enhancement.

Addressing the FAPCCI, Mr Farshid Manuchehri, Chief Executive Officer of Mashad Chamber of Commerce, Industries and Mines, Islamic Republic of Iran, stressed the need to encourage entrepreneurs to improve bilateral trade between the two countries.

He said that Mashad, capital of Khorassan Province, situated in the north-east of Iran had more than 3,800 production units in different fields such as food and medicine, chemical and cellulose, textiles and leather, electrical and electronic, dairy products, and cotton and synthetic fibre. In all these areas he invited Indian participation.

Mr Hossein Ravesh, Consul General of Islamic Republic of Iran, said that trade volumes between the two countries had been consistently on the increase.

He added that the visa issue for the entry into that country too had been sorted out and now visas were being issued within 24 hours if they were followed by a letter from FAPCCI.

At the meeting, FAPCCI also signed a Memorandum of Understanding with the Iranian delegation to foster friendship and to promote trade investment.

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