South African Ambassador to Tehran William Max Whitehead said on Wednesday that lifting the sanctions helped Iran and South African to set up a joint bank.
He made the remarks in meeting with head and members of Khorramabad Chamber of Commerce, Industry, Mine and Agriculture.
He said that establishment of two direct weekly flights between Tehran and South Africa by Mahan Airline is also on the agenda.
Whitehead said that South Africa buys its needed stones from Italy at high price.
He said that his country needs 500,000 tons honey annually, which purchased it from New Zealand and in case of readiness of Lorestan province it would be provided from Iran.
Nowadays, the developing countries need each other more than they need Europe, the South African ambassador said.
Whitehead on the head of delegation arrived in Khorramabad on Tuesday afternoon and visited a number of industrial and agricultural units.
In the past two years, envoys and trade delegations from different countries like Indonesia, Afghanistan, Turkey, Austria, Russia, Sweden, Switzerland and Finland have visited the province.
Iran and South Africa are to increase their trade to eight billion dollars a year until the year 2020.