Iran set to host economic ministers from 40 African countries at upcoming summit

Iran is set to host economic ministers from over 40 African countries at the second Iran-Africa International Summit later this month, a Trade Promotion Organization (TPO) official confirmed. The Deputy Head of the International Business Promotion Office of the TPO emphasized the importance of trade with African countries, highlighting the huge trade opportunities that exist in Africa and its potential to become a major player in global trade.

According to Mohammad Sadeh Ghannadzadeh, Africa has abundant untapped resources that are yet to be fully exploited, noting the increased level of trade between China and Turkey with African countries. He also noted that both the leader of the Islamic Revolution and Iranian President Ebrahim Raisii prioritized the expansion of trade and economic relations with African countries.

Lamenting the decline in Iran-Africa trade over the past four decades, Ganadzadeh reaffirmed the organization’s commitment to reviving and strengthening trade with Africa. One of the primary goals of the upcoming summit is to showcase and promote Iran’s export potential to African partners.

In addition to high-level meetings, the summit will feature specialized business (B2B) sessions and expert-led panels focusing on industries such as steel, petrochemicals and agriculture. Africa, with one-fifth of the world’s population, has significant reserves of minerals, oil, natural gas and gold, making it a key player in the global economy.