Iran wants to buy more bananas from the Philippines as both countries move to foster better economic ties, the Finance Department said Wednesday.
Iran Ambassador to the Philippines Mohammad Tanhaei said in a courtesy call to Finance Secretary Carlos Dominguez III that Tehran was keen on improving economic relations with Manila.
Tanhei said Iran planned to import more bananas from the Philippines and explore areas of investment and cooperation in infrastructure and energy.
Tanhae said Iran also wanted to strengthen the relations between the central banks of both countries to pave the way for Iranian investors in the Philippines.
The ambassador said a deputy minister of Iran’s Finance Ministry would visit the Philippines in the first week of November to discuss a framework of cooperation. Tanhaei said he would also invite the head of Iran’s Central Bank to visit the Philippines to discuss issues on banking cooperation with Bangko Sentral ng Pilipinas.
Dominguez welcomed Tanhae’s proposal and assured that he would “be happy to assist him” and “will certainly welcome all of Iran’s officials” to Manila to help reinvigorate bilateral relations.
Tanhaei said he was coordinating with local business groups such as the Philippine Chamber of Commerce and Industry to explore areas of investments for Iranian companies.
“In the [Iranian] private sector…for example regarding bananas, there are some big companies that said we still need more bananas from the Philippines,” Tanhaei said.
Filipino banana producers used to export 30 percent of their produce to Iran.
The past UN trade restrictions imposed on the Iran, however, led to a decline in Philippine banana shipments to the country.
The Finance Department said the recent lifting of the trade sanctions could mean Iran might once again be one of the Philippines’ largest markets for fresh banana exports.
Tanhaei also said Iranian companies were interested in investing in the Philippines, particularly in infrastructure, power transmission and water purification projects.
Diplomatic relations between Manila and Tehran were established on Jan. 22, 1964.