Rowley made the remarks in an address to ceremony to ink the contract with Iranian petroleum industry about joint venture investment, training workforce and transfer of technology.

He said valuable works can be done in the oil field in Iran with regards to abundance of experts in the NISOC and investment by Pergas.

He said that for development of oil fields and reserves, the Enhanced Oil Recovery (EOR) technique would be utilized to enhance oil recovery and create jobs.

‘The companies being member to the consortium, would prepare a complete cycle for development of oil fields.’

In the meantime, Managing Director of AGR Company Iain Morrison said that the EOR technique can be used for development of the oil fields, drilling and management of reserves.

Morisson said there is a drilling company in Norway with record of drilling oilwells in the Middle East.

He said there is a very good group in Norway specialized in education of technicians working in the oil and gas industries and to this end a contract has been signed with Sharif University of Technology for providing education for students in oil and gas industries and for transfer of technology in a special manner.

Meanwhile, talking to reporters on the sidelines of the inking ceremony, Rowley said his company is willing to undertake the project for development of Iranian oil fields.

‘We came to Iran since six years ago and since then we carried out explorations and studies on oilfield and now reached the contract.’

Noting that there is no problem with finance, he said, ‘We are much interested to start work as soon as possible.’

‘Now we have necessary capital for enforcement of the Memorandum of Understanding (MoU), ready to transfer it to Iran. If financial situation envisioned by the contact allowed, we will soon start work. The volume of investment will be specified in the future.’

AGR Managing Director told reporters that they were very happy to cooperate with the NISOC.

‘We have two objectives: One is academic and we’ve signed a contract with Sharif University of Technology for the purpose and another one is operational in nature.’

He added that upon receipt of information, we will study which technology for development of fields we should transfer to Iran.’

The NISOC and International Pergas Consortium signed oil MoU and Non-Disclosure Agreement (NDA) in Ahvaz city on Wednesday to study Karanj oil field and Shadegan oil field.

The NDA is a legal contract between at least two parties that outlines material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to or by third parties.

It is a contract through which the parties agree not to disclose information covered by the agreement.

NISOC Managing Director Bijan Alipour said that the agreement with Pergas was signed following 60 sessions of discussions with 33 domestic and foreign consortiums.

Pergas is a consortium of European, Canadian and Asian firms as well as the Sharif University of Technology of Iran and is to carry out studies over the two Iranian oilfields.

Alipour added that four oilfields and nine reserves have been ceded to NISOC.

He said that Iran is a country with plenty of economic advantages in the region and Slovenia is a gateway for European Union, so the advantages would be enough to draw the best roadmap for future cooperation and economic outlook.

For sure, presence of President Borut Pahor and accompanying delegation indicates that economy is a main route to access macro political goals in development of a country.

Shafei said that our main approach is constructive participation in issues of region and trans-region to create and strengthen economic relations with other countries.

Iran-Slovenia Trade Commission held a meeting on Tuesday in presence of President Borut Pahor and Minister of Energy Hamid Chitchian as well as representatives from 50 Slovenian companies at Iran’s Chamber of Commerce, Industry, Mine and Agriculture.

Private sectors of the two countries signed three Memorandums of Understanding in Tehran.

According to a press release by the New Zealand government, the country’s Trade Minister Todd McClay will travel to Europe and Iran over the next week to take part in a number of trade-related events.

The New Zealand trade minister will travel to Iran with a delegation of 17 companies after visiting Europe, the New Zealand based scoop news outlet said.

‘Iran has traditionally been a very important market for our sheep meat and butter,’ the New Zealand trade minister added.

‘Earlier this year, the visiting Iranian foreign minister said Iran presented a $1 billion prospect for New Zealand. This mission will be an important first step towards delivering on this exciting opportunity,” McClay said.

New Zealand Labour Party has designated David Clark as their trade spokesmanto to join the Iran delegation.

Milic made the remarks in a meeting with Vice-Chairman of Iran Chamber of Commerce Pedram Soltani.

He said that lack of banking relations with Slovenia is the reason for the low level of trade and economic cooperation between the two countries.

Underlining the significant role of Iran in regional developments, Milic said that the two countries can serve as gates for the big markets of the Middle East and Europe.

The Iranian official, for his part, said that a visit to Tehran by Slovenian president accompanied by 50-member delegation is indicative of the country’s interest in expansion of economic ties with Iran.

Noting that the Slovenian embassy in Tehran is due to reopen on Wednesday, Soltani said that the embassy would help link economic sectors of Iran and Slovenia.

Speaking in a meeting with Caspian shipping managers, Mohammad Saeedi referred to the company as one of the best, adding that the company is successful in the region.

Due to activation of shipping lines from the Persian Gulf to around the world and implementation of contracts, Caspian Shipping Company has gained a lot success so far, he added.

Based on the latest report by Clarkson Research Services Limited (CRSL), Islamic Republic of Iran Shipping Line (IRISL) carrying 92,674 containers (TEU), ranked 19th in container ship owners’ chart which was 23rd in the previous year and the Caspian Sea shipping is one of IRISL’s subsidiaries.

The BIPC Managing Director Reza Amiri was quoted by Ministry of Petroleum website as saying that as Linde has opened up its office in Iran, the officials of the two companies got together to consider opportunities of investment, transfer of technology and partnership in projects of the BIPC .
Amiri said Linde had launched activity in various domains like petrochemical section after the Joint Comprehensive Plan of Action (JCPOA).
Meanwhile, Head of the National Petrochemical Company (NPC) Marzieh Shahdaie recently voiced pleasure that the foreign companies are back to Iran after the JCPOA.

He made the remarks in a meeting with the Armenian Minister of Economic Development and Investment Suren Karayan.

Karbasyan said that the agreements made with the head of Armenian State Revenue Committee on customs affairs would serve to boost further development of economic cooperation.

Pointing to Armenia’s membership to the Economic Union of Eurasia and its role as linking Iran with the union, he appreciated continuous efforts of the Armenian government in the talks between Iran and Economic Union of Eurasia.

Economic Union of Eurasia currently comprises Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia, with a total population of 180 million.

Karayan, for his part, called for removing obstacles in the way of economic cooperation between the two countries.

Referring to the importance of establishing free trade zone, he said that this requires efforts by both sides.

The Armenian official said that easing customs regulations will play a crucial role to enhance economic cooperation.

In 2013, Iran exported goods worth of $198 to Armenia and imported $95 million dollars from the country.

In an interview with IRNA in London, and commenting on her opinion about the current banking situation, Millar said, ‘We act for the British Iranian banks and have been heavily involved in discussions with industries, the regulatory authority and the government about how to break the banking impasse.

The good news is that there is a real movement and it is well intended, but it is frustratingly slow.’

On the reason why things are moving slow, she said, ‘It is a combination of the architecture of the banking system in the UK which is different to the architecture to the banking system in Europe.

Each bank has a direct clearing relationship in Europe, but here in the UK you clear through another bank and those are the banks tend to be large banks who have found themselves on the wrong side of very large penalties from the US.

So they are naturally far more cautious than as warranted.’

Q. To a question if there is a prospect of normalization of banking system between Britain and Iran, the British expert said,’ I think there is and it will happen. I am a long term optimist. I have said this and would say just wait another six months.

The banking industry in the UK are generally always very interested in Iran, but they want to be second or third in. They like to see what the other banks do first.

I think there are relatively simple steps that could be put in place to resolve this and I think that there is a political will to do so, but previously the UK government was looking for the commercial sector to fill the gap and now I think there is a grown realization that there might need to be some intervention.’

On the the impact of Brexit on trade with Iran, she said, ‘It is a difficult question, but if the reality is that we are not going to have any deals with the EU and we are just going to be a trading partner like anyone else, it certainly is the case that the UK needs to find additional market.

Brexit should act as an accelerator real trade with Iran.’

Asked if Donald Trump retreats from JCPOA, would Britain preserve its position, the British sepert said, ‘I think so far as the JCPOA is concerned, the next president is irrelevant to JCPOA. By that, I mean that in order to tear up the JCPOA it has to be on the basis that Iran has breached the fundamentals of its obligation.

What the US or any other signatories cannot do is just to say I am walking away from their international obligation. I do not think that is going to happen. I think the JCPOA will hold and I do think that the next president is irrelevant to the question of the future of the JCPOA.

*Sue Millar is a finance litigation specialist. She focuses on investment banking disputes, involving highly complex products and structures. Her expertise extends to commercial and private banking and trade finance disputes.

Mustapa Mohamed emphasized that Malaysia enjoys free trade agreement with 13 countries at the moment.

Speaking in an interview with a Malaysian media, Berita Daily, Mohamed said ‘Malaysia would continue pursuing free trade agreements (FTA)’.

‘We have one with Turkey and will talk to Iran. We don’t have one with US and three other countries, yet” he added.

‘Malaysia would follow the template of the Trans Pacific Partnership Agreement (TPPA) in pushing for more trade opportunities with other countries’ he said.

In the wake of President Hassan Rouhani’s trip to Kuala Lumpur, Mustapa Mohamed heading an economic delegation from Malaysia had a trip to Tehran on October 21 to expand ties with Iran.

During his tour, Malaysian minister expressed willingness to boost trade ties with Iran in different fields, such as oil and gas, tourism, education and car industry.