Iran seeks to develop agriculture in Africa after sanctions lifted

By mahlokoane percy ngwato

According to Hadi Farajvand, the Iranian Ambassador to Kenya, the Middle Eastern nation is looking to lease land in Kenya, Uganda and Tanzania to be used for food production which will be sold both locally and internationally.

So far, more than 10 Iranian companies have expressed an interest in growing and processing rice, corn and wheat, particularly in East Africa. These companies could potentially establish manufacturing plants in the region.

Peter Kiguta, director-general of Customs and Trade at the East African Community (EAC), said: “The lifting of sanctions on Iran will pave the way for EAC member states to forge closer ties with Iran, but we need to export value-added products if we are to tilt the balance of trade in our favour.”

The East African Tea Trade Association (EATTA) expects exports to Iran to grow five-fold in one year with the opening of the market, it said.

Iran’s Agriculture Minister Mahmoud Hojjati has said “Between 38-40 percent of the Iranian families’ economy is related to food which requires us to build a base for reducing prices of nutritional products and providing for facile access to them.”

Stay Connected! Follow @AfricaBizReview and @MrNLon on Twitter. Like our Facebook Page.

Read the February Issue of African Business Review.

SOURCE: [PressTV

Share

Featured Articles

Top 10 most innovative telecom operators in the Middle East

With Dubai-based Telecoms World Middle East in full swing, we chart the most innovative telcos from the region – and look at how they are transforming

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

Leadership & Strategy

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy