Iran-Lanka endorse three new MoUs

Harshini PERERA

Three Memorandum of Understandings (MoUs) were signed yesterday at the ninth session of the Joint Commission for Economic Cooperation between Iran and Sri Lanka.

The first MoU was on the recognition of certificate of competency to service on Iranian vessels between the Ports and Maritime Organization on behalf of Iran and the Merchant Shipping Division of the Ports and Aviation Ministry. This agreement will enable the Lankan mariners to work in Iranian vessels.

The second MoU was on the Sister-Port relationship and co-operation between Iran’s Shahid Jajaee Port and the Colombo Port.

Under this agreement transit of cargo and container merchant activities will be carried out while it offering the necessary facilities to resolve the problems of shipping and forwarding between the two countries.

This MoU was signed with the necessity of expanding the economic relationship and strengthening and promoting the regional and international corporation. It will provide facilities and prepare the ground for necessary operations and activities of ports.

The third MoU was signed to mark the agreement between the ninth session of the Sri Lanka-Iran Joint Commission for Economic Cooperation.

Industry and Commerce Minister Rishad Bathiudeen and Iran’s Commerce Minister, Mehdi Ghazanfari signed the MoU on behalf of the two governments. “Trade between the two countries has shown a considerable growth over the past ten years. The bilateral trade has increased from US $ 263 million in 2001 to US $ 991 million in 2009. While Sri Lanka’s exports to Iran have grown steadily from US $ 29.5 million in 2001 to US $ 145.6 million in 2009, the imports from Iran have also shown a rapid growth from US $ 233 million in 2001 to US $ 846 million in 2009,” Industry and Commerce Minister Rishad Bathiudeen said.