Iran, Lanka explore JEC meeting

Sri Lanka and Iran are keenly exploring the possibility of holding the next session of bilateral Joint Economic Commission meeting in Tehran in early 2012.

Iranian Foreign Affairs Vice Minister Seyyed Amir Mansour Borghai who was in Colombo to inaugurate the Kattankudy Housing Project gifted by Iran met Industry and Commerce Minister Rishad Bathiudeen and had a discussion in this regard.

Both Ministers stressed of the need to strengthen mutual cooperation further and keenly exchanged opinions and explored the possibility of holding the next session of Sri Lanka, Iran Joint Economic Cooperation (JEC) meeting in Tehran in early 2012.

Iran agreed to provide a credit facility for crude oil starting January 2008 during President Mahinda Rajapaksa’s visit.

The facility was extended again in September 2009 for another one year.

Under this facility, in 2008, Sri Lanka imported US $1.05 billion of crude oil from Iran.

Both sides also discussed the possibility of regularising exports of Pure Ceylon Tea to the Iranian market.

Stressing on Sri Lanka’s post war economic resurgence and importance to Iranian business community, Minister Bathiudeen said: “There are promising investment opportunities for Iranian international investors seeking growth in our infrastructure including highways, commercial property and urban housing apartments, value addition, tourism, and tea in value added form.”