A high-ranking trade delegation from Singapore has visited Iran's Chabahar Free Trade Zone to seek opportunities to expand its economic cooperation with Iran.

The Port of Chabahar in Iran

The main goal of this fact-finding tour is to enhance economic collaboration between Singapore and Iran and the Middle East region in general, said Chong Fu Francis, head of the delegation.

He underlined that Singapore sees great potential for boosting cooperation with Iran in different sectors, including waste recycling and water sweetening devices.

Meanwhile, Managing Director of the Chabahar Free Trade Zone Hamed Ali Mobaraki said that the Singaporean delegation's visit marks a milestone in the two countries' economic relations as Singapore is now the leading investor in development projects in Iran .

Iran's Chabahar port, 72 kilometers west of Pakistan's Gwadar port, holds a strategic position and a great economic significance for the Middle East and India. In July this year, Head of Iran's Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafeyee announced that the country plans to turn the southeastern part of Chabahar Port into a trade hub in the near future.

(Source: VNA)