Bourses of Tehran, Shanghai to Expand Cooperation

 Tehran Stock Exchange and its Shanghai counterpart concluded an agreement to increase bilateral cooperation in different areas of the capital market.

According to public relations office of Tehran Stock Exchange, in a ceremony for signing the document which was held on the occasion of the 70th anniversary of establishment of the People’s Republic of China, the Iranian and Chinese officials held consultations to get familiarized with capital market, opportunities and cooperation grounds.

The memorandum of understanding (MoU) which was signed by both sides, prepares the ground for exchanging experiences and information on training courses, foreign investment, designing funds and bonds, developing infrastructures, promoting strategic structure, checking mechanism for information leaks and joint venture investments.

Shanghai Stock Exchange has recently opened a museum of showcasing documents and historical works in stock exchange along with donations from other markets, including those of Tehran Stock Exchange.

The Tehran Stock Exchange is Iran’s largest stock exchange founded in 1967.

The TSE is based in Tehran. As of May 2012, 339 companies with a combined market capitalization of US$104.21 billion were listed on TSE.

Early in October, Iranian First Vice-President Eshaq Jahangiri, in a message to Chinese Premier Li Keqiang, congratulated the prime minister on the 70th anniversary of the establishment of the PRC, and voiced Tehran’s willingness to set up strategic economic ties with Beijing.

In his letter to Li, Jahangiri congratulated the 70th National Day of China, saying that the strategic economic relations between Iran and China will be materialized with cooperation.

In his letter, the Iranian vice-president wrote that the relations between the two countries have been reinforced in all aspects, particularly economy.

Jahnagiri expressed certainty that Tehran and Beijing can deepen ties through moving from trade to strategic economic relations.

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