Vun Chi Fung, Head of the Port Development Sector in Singapore has said that Singapore is ready to participate in the construction and development of Iran’s ports, according to Iran Daily.
Mr Fung and Javad Ansari, Ambassador for Iran had discussed cooperation for developing ports.
Vun Fung, said that many ports along the northern coasts are suitable for development, with Mr Ansari adding that more than 80% of Iran’s imports-exports are carried by sea.
It was recently reported by PTI that Iran had stopped shipping free crude oil to India and requested new freight arrangements.
Singapore was also recently involved with in a new venture with PSA and Cosco for the development of new berths at its port.
Iran is currently struggling to increase its exports due most of its tankers storing crude oil.
However, with the development of these ports and the partial lifting of sanctions, this could pave the way for rapid development for Iranian ports and its economy.
