Malaysia-Iran annual trade at $1.5b: Envoy

Annual trade between Malaysia and Iran currently stands at $1.5 billion, said Malaysia’s Ambassador to Iran Dato Rustam bin Yahaya, AVA Diplomatic reports.

The envoy added that expanding economic ties with Iran is a priority for Kuala Lumpur while the country also eyes attracting more tourists from Iran.

Malaysia, he added, plans to make joint investment with Iran.

Last year, President Hassan Rouhani reiterated Iran’s willingness to promote relations with Malaysia in all areas and said closer ties between the two countries would be in favor of both nations and the region.

Speaking in a meeting with bin Yahaya, he underlined the need for implementing the agreements reached between Tehran and Kuala Lumpur.

The Islamic Republic attaches great importance to Malaysia, he said, adding that relations between the two countries in diverse spheres, including politics, economy, education and tourism have constantly been on the rise.

The Malaysian ambassador underlined his country’s willingness to deepen ties with Iran in all areas, economy in particular. He added that in line with the policy, Malaysia aims to double trade transactions with the Islamic Republic.