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News number: 8809140559

15:53 | 2009-12-05

Economy

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Iran Allocates $1bln to Promote Economic Capabilities Abroad

TEHRAN (FNA)- Iran allocated $1bln to build 20 trade centers in diferent world countries in a move to promote its economic capabilities abroad.



Tehran aims to promote its economic and commercial capabilities by launching the trade centers, Mohammad Davaei, deputy of the Iran Chamber of Commerce, Industries and Mines said.

He said President Mahmoud Ahmadinejad approved funding a one-billion-dollar loan for the project.

Davaei noted that the Islamic Republic has started construction of two centers in Sudan and Azerbaijan.

He predicted that completion of each project would take about 2-3 years.

Iran opened its first overseas-based commercial center in Shanghai in November.

The trade center is run under the direct supervision of the Iranian Chamber of Commerce, Industries and Mines.