MINSK -- Iran inaugurated a large copper wire factory and the second phase of Samand car assembly line in Beluarus on Saturday.
Iranian Industries and Mines Minister Ali-Akbar Mehrabian and Belarusian Minister of Industry Alexander Radovic attended the inauguration ceremonies, the Mehr News Agency reported.
The copper wire factory was established at the cost of $8 million by Iran's private sector. The unit is projected to produce 34,000 tons of copper wire per year. The factory's raw materials will be exported from Iran to Belarus.
Currently the two countries' trade value stands at $3.250 billion.
In May 2009, Belarusian Deputy Prime Minister Vladimir Semashko met with Vice-Governor of the Central Bank of the Islamic Republic of Iran, Reza Raei, to enhance an oil production project in the Jofeir field, located in Southwestern Iran near the border with Iraq.
Subsequently, the Central Bank of Iran agreed to lend $212m to Belarusneft for the project