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Minister Denies Authorizing Commercial Visit to US
TEHRAN, Feb. 16--Commerce Minister Mohammad Shariatmadari here on Wednesday denied reports that Iran Chamber of Commerce, Industries and Mines (ICCIM) has been authorized to send an official trade delegation to the United States, stressing that such statements are surprising under present circumstances.
The minister told ISNA that no official permit has been issued for the ICCIM to send an economic team to the US, saying, however, that the initiative could be taken if the ICCIM presiding board approves of it.
He stressed that all the provincial chambers of commerce, including that of Tehran, have to obtain the required authorization from the ICCIM presiding board before undertaking any international interaction.
Shariatmadari said the violation of this policy would lead to a chaos in the countryŐs international economic relations.
Earlier, the head of Tehran Chamber of Commerce, Industries and Mines, Mohammad Reza Behzadian, said private companies will continue their economic interactions with US partners regardless of decisions made by Iran Chamber of Commerce, Industries and Mines to this effect.
He told ISNA that the ICCIM is not planning to do business with companies other than those from Europe and Arab countries, stressing that the private sector will not wait for a new decision by the chamber.
"Interaction with other countries is the legitimate right of private enterprises," he said, adding that if the ICCIM sends an official economic team to the United States, the initiative would certainly produce concrete results.
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LNG Quality Changes For India
NEW DELHI, India, Feb. 16--Iran has changed the quality of gas that it would sell to Indian Oil Corp/GAIL (India) under an agreement for 7.5 million tons per annum of LNG, a PTI report said.
Tehran has however accepted Indian condition of delivering natural gas through a separate Iran-India pipeline project on the Rajasthan border.
"Tehran has changed the quality of LNG to lean gas (gas stripped of ethane/propane) against the rich gas promised earlier," a top official said after technical teams of the two countries met today to decide on parameters of LNG sale and export of natural gas through the proposed Iran-India pipeline.
Last month, India had committed to pay Iran a maximum price of $3.10 per million British thermal unit (mBtu) for rich LNG. The Iranians have said that they now plan to participate in the shipping facilities of LNG as well.
On the issue of Iran-India gas pipeline, Tehran accepted New Delhi's condition of delivering the gas on Indian border.
Accordingly, New Delhi would not be associated with the construction, maintenance or operation of the 2,775-km pipeline, some 760-km of which would be in Pakistani territory.
New Delhi would not enter into any agreement with Pakistan and deal only with Iran on the issue. It would be Tehran's responsibility to court Pakistan for laying the pipeline and safe delivery of gas on the Indian border.
The two-day gas talks between Iran and India started here Wednesday.
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Auto Cooperation Improves France Ties
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Renault and Iranian automobile manufacturers have agreed that the Iranian side produce 50 percent of the parts in the first phase of the L90 project.
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TEHRAN, Feb. 16--IranŐs ambassador to France said here on Wednesday that economic transactions between the two countries have grown considerably in recent years following the signing of new automotive industry projects.
According to ILNA, Sadeq Kharrazi said at the Seminar on Studying Investments in Auto Part Industry that easy access to inexpensive energy and labor has even brightened IranŐs prospects scoring remarkable economic and industrial successes.
He called on the Foreign Ministry to help strengthen the countryŐs international economic cooperation and pave the way for greater presence of private Iranian companies in joint ventures, especially with France.
Major Iranian carmakers Iran Khodro and Saipa have reached an agreement with FranceŐs auto giant Renault to produce L90 budget sedans in Iran.
Renault and Iranian automobile manufacturers have agreed that the Iranian side would produce 50 percent of the parts in the first phase of the project, which begins in 2006.
Capital investment in the L90 project will total 1.5 billion euros. The price is estimated to be around 8,000 euros for full option models.
In another development, Jafar Ebadi, a top advisor to the head of Management and Planning Organization, said after his visit to Iran Khodro that the government must throw its weight behind the countryŐs thriving automotive industry.
He appreciated proper utilization of robots, sophisticated machinery and modern technologies as well as young specialists at Iran Khodro.
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Turkcell Sees Risks In GSM License
ISTANBUL, Turkey, Feb. 16--Mobile phone service provider Turkcell said on Monday a law reducing the foreign share in an Iranian GSM network had increased the risks in a deal that promised to be Iran's largest foreign investment in decades, Turkish Daily News said.
Lawmakers passed legislation on Sunday lowering to 49 percent the nearly 70 percent stake a Turkcell-led consortium had won in last year's tender. Conservative MPs sought to increase Iran's stake to 51 percent from 30 percent, accusing Turkcell of links to arch foe Israel.
Turkcell said in a statement to the Istanbul and New York stock exchanges it would await a final decision on Irancell.
The Guardian Council must still rule on whether the law conforms to Iran's Constitution. "Although the approval process in the Iranian parliament is still continuing, the suggested developments increase the risks associated with the reliability of the Irancell license agreement process," Turkcell said.
The deal had initially been seen worth $3 billion. Turkcell had already warned in January that any move to lower its stake could endanger the deal.
The vote means South African's MTN, the runner-up to Turkcell in the original tender, could replace it as foreign partner in the venture. MTN said on Sunday it was ready to take the 49 percent if Turkcell bows out.
Turkcell shares were up 0.55 percent at 9.15 new lira after the statement.
The legislation on Irancell is the second blow to a Turkish investment deal.
The TAV consortium poured $15 million in to Tehran's new airport on a goodwill basis last year but was thrown out before flights began.
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WTO Bid Rejected Again
TEHRAN, Feb. 16--World Trade Organization (WTO) has reportedly rejected for the 22nd time IranŐs bid to start accession talks in the face of mounting pressure from the United States and growing laxity of the European Union.
According to Fars news agency, the US vetoed IranŐs application as the European countries, which had pledged to back IranŐs bid, sat idle.
The rejection of IranŐs WTO application came amid the decision to start accession negotiations with some countries, which are much weaker than Iran in terms of economic growth and stability.
The US has backed applications by Iraq and Afghanistan as 11 Arab states have so far managed to join the organization. Iran has failed in its efforts to enter WTO since 1995.
An economic official said last week the Islamic RepublicŐs insistence on World Trade Organization (WTO) membership is indicative of its determination to build greater confidence and create further transparency in its international economic interactions.
Jamshid Edalatian, vice chairman of Tehran Chamber of Commerce, Industries and Mines, said it seems quite unlikely for Iran to be able to join WTO in view of US sanctions.
The US had also vetoed Iran's bid for talks on its WTO membership in December 2004.
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Algeria Gateway to Non-Tariff Western Markets
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Iran already exports several thousands of vehicles to Algeria each year.
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TEHRAN, Feb. 16--Algeria could turn into IranŐs gateway to non-tariff European markets, said the chairman of Iran Chamber of Commerce, Industries and Mines (ICCIM), adding that the North African countryŐs businesspersons are willing to cooperate with the Islamic Republic.
ŇAlgeria is joining the World Trade Organization by the end of 2005, which could help Iran have access to non-tariff markets in Europe,Ó Alinaqi Khamoushi said, adding that Iran already exports several thousands of vehicles to Algeria each year.
The official, who was speaking at the meeting of the heads of ICCIMŐs overseas representative offices, further said any economic activity, in the framework of bilateral cooperation with countries like Algeria, that would produce 20-30 percent value-added for Iranian firms would help boost IranŐs international export markets to a great extent.
He pointed out that Germany is IranŐs largest trading partner in Europe, stressing that Berlin exports three billion euros worth of goods to Tehran annually, whereas it imports only 150 million euros from the Islamic state yearly.
The ICCIM chief further said there is growing interest among Iranian businesses to invest in Hungary, stressing that the ICCIM would help them in this respect.
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Europeans Assist Technology Park Construction
DAMAVAND, Tehran, Feb. 16--Several European countries are involved in the groundbreaking project to construct a huge science and technology park in the north of Tehran, said a local official on Wednesday.
Amir Hossein-Zadeh, deputy governor of Damavand for financial and planning affairs, told IRNA that private Iranian companies have pledged to contribute 250 billion rials to the project, which would be launched later this year.
ŇEuropean countries are assisting private companies in Iran in building the park,Ó he said, stressing that the assistance will take the form of scientific cooperation.
He further noted that Canada is willing to participate in a project to construct a tourist resort in Damavand, stressing that 2.5 billion rials has been earmarked for conducting feasibility studies on the project.
The official further noted that a foodstuff packaging unit has been constructed in northern Tehran. ŇThe city can now export agriculture products directly to other countries,Ó he said.
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