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SA, Iran agree to boost economic, trade relations

Pretoria - During his state visit to Iran, South African President Jacob Zuma has signed several agreements and commitments involving both countries taking economic and trade relations to greater heights following the lifting of sanctions against Iran.

The aim of the state visit is also to promote greater cultural understanding, cooperation and tourism between the two countries.

According to the Presidency, South Africa views Iran as a strategic trading partner within the Middle East and Central Asian regions.

"In the bilateral sphere, SA and Iran share a long historical relationship, with Iran having stood with and supported the struggle for liberation in SA. South Africa has also stood with Iran in the face of unilaterally imposed sanctions," the Presidency said in a statement issued on Monday.

READ: Oil producers meet amid Saudi-Iran row

"While the countries have maintained good relations over the years, total trade has unfortunately been falling over the past decade owing to, amongst others, the non-existence of banking relations between SA and Iran and the various sanctions imposed by the West."

As of 2015, total trade between the two countries stood at R358m, an amount Zuma stressed does not reflect the optimal capabilities of the two economies.

Zuma and Iran's President Hasan Rouhani undertook to take cooperation to a higher level in the fields of trade, education and skills development, science and technology, energy, including petrochemical gas exploration and refining capacity, agriculture, mining and mineral beneficiation, infrastructure development and transport, finance, banking and insurance and tourism.

Zuma and Rouhani also discussed developments in the Middle East, including in Iraq, Yemen and Syria, while emphasising the need for dialogue and a political solution to the ongoing crises in these countries.

The two leaders also agreed to intensify the call for the reform of the United Nations, especially the UN Security Council, as the interests of the developing world need to be protected, in their view.

Rouhani has accepted an invitation from Zuma to undertake a state visit to SA.

ALSO READ: SA would import Iran oil 'tomorrow'

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