A high-ranking Singaporean trade delegation visited Iran's Chabahar Free Trade Zone to assess the capacities and chances for expanding economic cooperation with Iran.
"The main goal of this visit is to enhance mutual cooperation and this trend can push the two countries' relations towards (joint) investment of Singaporean investors in this beautiful and hospitable region," Head of the Singaporean Trade Delegation Chong Fu Francis said during his visit to Chabahar on Tuesday.
He underlined that Singapore has famous investing companies in different sectors, including power generation form recycled garbage and water sweetening devices.
Meantime, Managing Director of Chabahar Free Trade Zone Organization Hamed Ali Mobaraki said that the Singaporean delegation's visit to Chabahar "is a milestone in the two countries' economic relations in view of Singapore's record in development projects.
Last month, Singaporean State Minister Masagos Zulkifli Bin Masagos Mohamad voiced regret over the limitations and obstacles created by the western sanctions to the further expansion of his country's relations with Tehran.
Masagos Mohamad made the remarks in a meeting with visiting Head of Iran-Singapore Parliamentary Friendship Group Gholamreza Mesbahi Moqaddam and other Iranian MPs accompanying him.
He also voiced interest in the further development of ties with Tehran, and said, "Singapore sincerely wants to have all-out relations with Iran."
During the meeting which was also held in the presence of Singaporean Foreign Minister K. Shanmugam and Iranian Ambassador to Singapore Javad Ansari, Masagos Mohamad also underscored his country's enthusiasm for broadening relations with Iran.
"Singapore is Iran's friend and we are really seeking ways to expand relations with Tehran," he said.
In June, Singaporean Parliament Speaker Halimah Yacob in a meeting with Iranian Foreign Minister Mohammad Javad Zarif expressed the hope that trade and economic cooperation between the two countries would further increase.
Iran's Chabahar port, which is located 72 kilometers West of Pakistan's Gwadar port, holds immense strategic and economic significance for India. Chabahar and Gwadar ports are located in a common coast and they are 70 kilometers away from one another.
In July, Head of Iran's Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafeyee announced that Iran plans to turn its Southeastern Chabahar Port into a trade hub in the near future.