Iran is set to host economy ministers from over 40 African countries at the second Iran-Africa International Summit later this month, as confirmed by an official from the Trade Promotion Organization (TPO). The deputy head of the TPO’s international businesses promotion office emphasized the importance of trade with African nations, highlighting the vast trade opportunities that exist in Africa and its potential to become a major player in global trade.
According to Mohammad Sadegh Ghannadzadeh, Africa harbors abundant untapped resources that have yet to be fully utilized, noting the increased trade levels between China and Turkey with African countries. He also mentioned that both the Leader of the Islamic Revolution and Iranian President Ebrahim Raisii have prioritized expanding trade and economic relations with African nations.
While expressing regret over the decline in Iran-Africa trade over the past four decades, Ghannadzadeh affirmed the organization’s commitment to reviving and strengthening trade with Africa. One of the primary objectives of the upcoming summit is to showcase and promote Iran’s export potentials to African partners.
In addition to high-level meetings, the summit will feature specialized business-to-business (B2B) sessions and expert-led panels focusing on industries such as steel, petrochemicals, and agriculture. Africa, with one-fifth of the world’s population, boasts significant mineral reserves, oil, natural gas, and gold reserves, making it a critical player in the global economy.
