Iran to Meet Thai Need to Oil Products

“Formerly Thailand used to buy crude oil from us but it has stopped; we hope for resumption of the trade. They buy oil products from other countries and we can meet part of it,” said Nematzadeh.

He said banking system is one of the necessary tools for promotion of international trade.

“To raise trade with certain countries like Thailand to three billion dollars from 150 million dollars, direct financial transfer should be possible,” he added.

The minister said for the time being, Iran-Thailand trade volume stands at about 400 million dollars which is to be increased up to the level of about three billion dollars. 

The two countries hope to meet the target in five years or even sooner, he added.

He said Iran has advantages of joint investment in the petrochemical sector, steel and other metals as the Thai party is in need of it.