Iran will today host an international economic cooperation conference with 15 West African countries. Photo: Rasanah

Iran will today host an international economic cooperation conference with 15 West African countries.

The conference follows a meeting held at Iran’s Chamber of Commerce, Industries, and Agriculture with Senegal’s high economic advisor Shaykh Cisse. At the meeting, Iran and Senegal discussed overcoming barriers to bilateral cooperation, such as transit challenges. Tehran has identified Dakar as a destination for Iranian goods.

In order to address economic uncertainty amid a new round of sanctions from the European Union (EU) and from the United States, Iran, like China and Russia, has sought closer relations  with Africa, opening eight trade centers on the continent . Iran has identified West Africa, particularly Nigeria, as a key destination for Iranian exports in technical and engineering services as Tehran seeks to boost its non-oil trade and diversify its economy while supporting LNG (liquefied natural gas) production capabilities in Lagos.

Despite ongoing sanctions from the US, mutual cooperation between African countries, particularly those in West Africa is expected to continue, building on the surge in Iranian trade with Africa in the last year. Countries across the continent will likely continue to pursue their own interests amid growing dissatisfaction with the current Western led global system, while remaining cautious of growing influence from Russia and China.