Iran Seeks to Upgrade Ties with Korea

Iranian Ambassador Mohammad Reza Bakhtiari contributed the following article on the occasion of the 29th anniversary of the Islamic Revolution on today.

I wish to thank The Korea Times for giving me this opportunity to address its readers on the occasion of the 29th anniversary of the Islamic Revolution of Iran that falls on today.

The government and the people of Iran are celebrating this 29th National Day in the new millennium with strong determination to work zealously toward progress and prosperity in their beloved homeland.

The socio-political as well as economic development of the Islamic Republic of Iran has reached a point of maturity with the beginning of the new millennium.

Since 1979, with the establishment of the Islamic Republic, Iran has attached great importance to the extension of more profound relations with East Asian countries in its foreign policy, particularly Northeast Asia. With any doubt the Republic of Korea occupies a special position in this regard.

Relations between Iran and the Republic of Korea are very close and cordial. Friendship and cooperation between the two countries is based on long-standing historical and cultural ties, as well as on complementary economic interests.

The bilateral relationship between Iran and Korea is marked by the exchange of high-level official visits, as well as frequent exchange of delegations in the private sector and increasing mutual academic and research contacts between the two countries.

Although the Republic of Korea is one of Iran's top trading partners and Korean trading and construction companies are increasingly operative in the Iranian market, further consolidation and improvement is required in view of the tremendous potential for mutual benefit.

The 10th Joint Economic Commission on bilateral agenda was held in 2006 in Seoul, and we are now preparing for the 11th session in Tehran.

Under the new Foreign Investment Law of Iran, there are opportunities with very attractive terms for foreign investors in almost all sectors including infrastructure development, industrial joint venture partnerships, oil and gas fields development, agriculture and even the services sector.

The escalation of the level of Iran-Korea bilateral economic cooperation during recent years signifies the potential that exists in Iran in terms of foreign investment opportunities and exploitation of abundant natural resources.

Iran with it's unique geographical location next to the Middle East, Persian Gulf, Central Asia and Europe offers a prime platform for Korean companies to manufacture goods not only for Iran's own 7 million consumer market but also as a regional manufacturing hub for nearby countries.

Existing free trade zones in different parts of Iran make it even more attractive to foreign companies to take advantage of the specific location of Iran.

Qualified labor forces and ample natural resources as well as the advances of protection and promotion of foreign investment law are ruminative for foreign investors in Iran.

Nowadays, large business groups such as Daelim Industries, Hyundai Engineering and Construction, LG, Kia are active in various fields in Iran like South Pars projects, petrochemical projects, vessels, tankers, pharmaceutical projects, auto industries, iron and steel, power plants and electric projects.

All these developments indicate that Korea's industrial giants have confidence in the Iranian market.

Bilateral cooperation in the cultural sphere is also developing rapidly. During the course of last year, exchanges of arts groups and artists became more active.

With Iran and South Korea both being dynamic countries in their respective regions, I am strongly convinced that prospects for further development of fruitful bilateral relations are bright and promising.

In conclusion, I would like to convey the very best wishes of the government and people of Iran to the government and people of the Republic of Korea.

I am confident that, guided by their common commitment to international and regional peace and security coupled with growing economic interaction, the two countries will continue to forge closer ties and cooperation in diverse fields in the years to come.