Iran Eyeing the Philippines For Possible Investments And Banana-For-Oil Trade

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Seems like the Philippines is getting new business partners as the Iranian government expressed its interest in working with PHL. This was confirmed by Finance secretary Carlos Dominguez who shared the gist of his talk with Iranian Ambassador Mohammad Tanhaei. According to him, Tanhei wants to import more petroleum products from the Philippines as well as bananas.

 

“The Iranian government…has expressed interest in working with the Philippines’ energy sector in the fields of oil exploration and the petroleum product trade,”Dominguez shared.

 

The relationship between the two countries is expected to be reinforced after the lifting of the economic sanctions. Tanhei stated, “In the [Iranian] private sector…for example regarding bananas, there are some big companies that said we still need more bananas from the Philippines,”

 

Tanhei further added that some of their big companies are interested in investing in the Philippines, specifically in the infrastuctures, power transmission and water purification.

 

Meanwhile, deputy minister of Iran’s Finance Ministry is expected to visit PHL this coming November. Tanhei also added that he will also invite the head of Iran’s Central Bank to discuss possible ventures in the country.

 

Iran Eyeing the Philippines For Possible Investments And Banana-For-Oil Trade