Iran, South Korea to triple trade volume to $18bn
IRAN, May 3, 2016
Iran and South Korea are planning to triple their annual trade volume to $18 billion, Iran’s President Hassan Rouhani announced recently following the meeting with his South Korean counterpart Park Geun-Hye.
The two sides decided to increase the current trade volume of around $6 billion by three times to achieve $18 billion, Rouhani was quoted as saying in an Arab News report.
He added that they even discussed about tourism, direct flights between Seoul and Tehran, and Korean investment in Iranian tourism infrastructure, including building hotels.
Park is the first South Korean President to visit Iran since the two countries established diplomatic relations in 1962, and as Seoul seeks new markets to turn around a lengthy decline in export revenues, added the report.