Islamic Republic News Agency

Barahman said that Africa remains largely untapped due to weak infrastructure and limited technology.

Yazd, IRNA – The head of the Iran-Africa Joint Chamber of Commerce has described Africa as a “hidden treasure of the world economy” and a major opportunity for Iran to expand its trade and investment.

Masoud Barahman said on Sunday at a special panel on Africa held at the Yazd Chamber of Commerce that the continent, which holds 30 percent of the world’s mines, 65 percent of its diamonds, and 60 percent of its gold, remains largely untapped due to weak infrastructure and limited technology.

Africa conducts around $1.5 trillion in annual trade, with most of its exports consisting of raw materials and a few commodities such as tea, coffee, cotton, and oilseeds, he said.

Referring to areas of cooperation, Barahman said there are over one trillion dollars’ worth of projects underway across Africa in fields such as dam construction, renewable energy, and contracting.

African countries welcome the presence of Iranian experts and companies in the mining sector, and even calls have been made for their participation in gold projects, he added.

He further said that despite infrastructure challenges, Africa’s economic growth rate surpasses the global average, offering Iran a strategic opportunity to enter emerging markets.