Suitable condition prepared to attract FDI

Komijani revealed the above remark and said, “Islamic Republic of Iran is prepared to expand and develop banking cooperation with Philippines.”

In his meeting with Philippine ambassador to Tehran, he pointed to the improvement of Iran’s economic and trade situation in the past years especially after the implementation of Joint Comprehensive Plan of Action and said, “Iranian economy faced international restrictions when the 11th government assumed power due to the imposition of unjust and unfair sanctions imposed against Iran by US and Western countries but after a landmark nuclear deal inked between Iran and six world’s major powers, Iran’s economy was ameliorated in the international level.”

Turning to attaining the highest economic growth in the past Iranian calendar year in 1395 (ended March 20, 2017), he said, “when Joint Comprehensive Plan of Action (JCPOA) was put into effect in Austrian capital Vienna in mid-July 2015, both government and Central Bank of Iran (CBI) managed to promote effects of economic policies considerably.”

Given the above issue, after the implementation of JCPOA, the country managed to attain 12.5 percent economic growth, he said, adding, “moreover witnessing considerable growth in the oil and gas sector, other economic sectors of the country also experienced a significant and positive growth in return.”

Establishing fair and amicable relationship with the Asian countries especially Southeast Asian countries is one of Iran’s most important economic policies, he said, adding, “in this regard, Islamic Republic of Iran managed to establish good relationship with Southeast Asian countries including China, South Korea, Malaysia, Philippines and Indonesia, etc.

Developing and expanding banking relationship is a prerequisite for economic and trade cooperation, so that CBI is prepared to expand cooperation between central banks of the two countries, CBI deputy concluded.