Dam, Power Plant Projects Planned in Mali

04 July 2005 | 13:25 Code : 5313 Geoscience events
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Minister of Economic Affairs and Finance Safdar Hosseini said in a meeting with his Malian counterpart here that Iran is determined to boost trade with Africa, ...
Minister of Economic Affairs and Finance Safdar Hosseini said in a meeting with his Malian counterpart here that Iran is determined to boost trade with Africa, stressing that the Islamic state plans to construct dams and power plants in Mali.
   According to the Persian daily Jahan-e Eqtesad, Hosseini told Abou-Baker Traore that Iran is willing to upgrade cooperation with the West African state in all key areas including energy, agriculture, technical and engineering sectors.
   He said Iran has given high priority to improving economic cooperation with Muslim African countries, adding that a relevant headquarters, chaired by the first vice president has been established to follow up the same.
   For his part, the Malian minister praised Iran’s efforts to boost economic ties with Africa, calling on Iranian businesses to invest in Mali.
   He expressed hope that the two sides would soon begin talks on signing industrial projects, stressing that Iran’s plans for building dams and power plants indicate its determination to boost economic cooperation.
   Greater trade ties with Africa are a high priority in Iran’s foreign policy. In recent years, the government has tried to pave the way for Iranian businesses to boost non-oil exports to Africa. Given the high transportation costs involved in exporting goods to Africa, the government has undertaken some of the costs to encourage exports, he said.
   The Khatami administration has approved $450 million for economic activities in Africa and for covering the risks.
   In the first phase of the program, some $300 million will be channeled from the Foreign Exchange Reserve Fund to finance export of goods and technical and engineering services to Africa as well as for implementing several projects in that continent.
   The government’s Africa Headquarters was established in early 2004.
  
NGDIR

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