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Tehran, Jakarta Oil Trade Rising

(Monday, June 19, 2017) 11:41

TEHRAN, June 19 (Shana) -- Energy trade between Iran and Indonesia has been rising in recent years and is growing, Indonesian ambassador to Tehran, Okatawnew Ali Modin said.


Speaking in a meeting with Gholamhossein Shafei, head of Iran Chamber of Commerce, Modin underlined Iran's role in the region as a trade hub, adding implementation of deals by the two countries has raised the volume and level of trade between them in recent years. 

He said an Indonesian delegation is scheduled to visit Tehran after the month of Ramadan to discuss trade issues with Iranian officials. 

Iran and Indonesia have targeted $2b of mutual trade, for whose realization reconsideration of tariffs is a necessity, the Indonesian envoy said.

Last year an Indonesian company purchases $88m of oil from Iran which will reach $220m this year, he further added. 

For his part, Mr. Shafei said East Asian Muslim countries are a top priority for Iran, adding among them Indonesia has great potentialities for bolstering economic relations.

In 2013, Iran sent a delegation of executives of private companies to Indonesia to sign an agreement for construction of a refinery in Indonesia which has made acceptable progress since then, he added.