Iran to invest in Dagestan

Dagestani President Magomedsalam Magomedov has met an Iranian delegation and discussed trade-economic ties, RIA Dagestan reports.

The president noted that Dagestan has access to the Caspian Sea and direct contacts with Iran. The two states have common interests in the Caspian Sea: exploration, ecology, joint use of natural resources and development of the North-South corridor. A deal was concluded with the Gilan Province of Iran. Relations may be developed with other provinces, such as Yazd. Magomedov invited Iranian officials to visit the annual Dagestani International Economic Forum.

The president noted that all contacts had been made, giving hope for agreements on cooperation in agriculture, engineering and exhibition events.

Fereydun Kusedki said that Iran chose Dagestan as a friend in the most complicated times. He pointed out such spheres for investments as oil extraction, construction, processing and medicine. The Iranian official mentioned opportunities to finance construction of factories for production of cement, juices, high-quality medicaments. He proposed opening an exhibition in Makhachkala to demonstrate Iranian products.

Regarding Yazd, it is one of Iran’s largest industrial centers. It has about 3,000 industrial enterprises and extracts 52 types of natural resources. It is the top 6th province, in terms of industrial development. The Khodro car factory operates in Yazd, producing cars, trucks and buses.