Iran economy strong despite sanctions

Iranian Foreign Minister Manouchehr Mottaki has played down the impact of US-engineered sanctions on the country over its nuclear program, insisting on Iran’s continuous economic growth.

“Despite the global financial crisis, Iran’s economy not only averted a recession, but continues to maintain a good position by achieving an eye-catching growth in its stock exchange market and reducing the national unemployment rate,” Fars news agency quoted Mottaki as saying in a meeting with Foreign Minister of the Czech Republic Karel Schwarzenberg in New York on Saturday.

He stressed that while Iran manufactured only 10 percent of the equipment used in its oil and gas industry before the US-led sanctions were imposed, that figure has now drastically climbed to 70 percents, reflecting the ineffectiveness of the sanctions.

The Czech minister, for his part, called for the expansion of relations with the Islamic Republic.

Tehran has vehemently rejected the West’s accusations that it is developing nuclear weapons, insisting that as a signatory to the Nuclear Non-Proliferation Treaty, it has the right to pursue and utilize many civilian applications of nuclear technology.

However, bending to extraordinary anti-Iran efforts by the US and its European allies, the UN Security Council imposed a fourth round of sanctions on Iran in June which was followed by additional unilateral sanctions by the US and the EU.

Meanwhile, Mottaki and Secretary General of the Inter-Parliamentary Union Anders B. Johnsson exchanged views on the latest developments of parliaments across the world.

The Iranian minister pointed out that all parliaments should exercise equal rights and called for putting an end to interfering measures by certain countries in such strategies.

In another meeting between the Iranian foreign minister and his Turkish counterpart Ahmet Davutoglu, the two sides discussed ways to promote bilateral, regional and international cooperation.

Mottaki praised growing ties with Ankara in political, economic and cultural fields and stressed the significance of implementing all agreements already signed between the two sides.

Davutoglu, for his part, said Iran and Turkey should enhance their cooperation, particularly in setting up a free trade zones on border regions.