Iran and Africa: Building a Stronger Economic Partnership through Trade and Investment

The second Iran-Africa International Summit, which is set to take place in the coming weeks, will host economy ministers from over 40 African countries. The Trade Promotion Organization (TPO) has emphasized the importance of trade with African nations, highlighting the numerous untapped opportunities for economic cooperation.

Despite being neglected in recent decades, efforts are being made to revitalize and enhance economic partnerships between Iran and Africa. With China and Turkey increasing their trade with Africa, there is a growing focus on strengthening ties with the continent.

The Leader of the Islamic Revolution and Iranian President Ebrahim Raisii have both expressed a commitment to expanding trade and economic relations with African countries. The upcoming summit aims to identify and introduce Iran’s export potentials while providing opportunities for specialized business-to-business meetings and expert-level discussions.

Africa, home to a significant portion of the world’s population, boasts abundant mineral reserves, oil, natural gas, and gold reserves. The summit will include panels discussing specialized industries such as steel, petrochemicals, and agriculture, highlighting the potential for collaboration and growth in these sectors. Overall, the summit represents a key opportunity to strengthen economic ties between Iran and Africa and tap into the continent’s vast resources and potential for global trade.