Local company signs agreement with Iranian logistics firm

NORTHSTAR Development Sdn Bhd, a local Brunei company, and Arya Shipping Lines from the Islamic Republic of Iran yesterday signed an agreement to foster business and economic cooperation between the two countries.

Abdolhamid Fekri, Ambassador of Iran to Brunei Darussalam, was the guest of honour at the event held at the Rizqun International Hotel.

Nyoman Dhamantra, Member of Parliament, Republic of Indonesia, together with senior officials from the Brunei Government, business delegation from Iran and members of the Brunei business community were also present.

Arya Shipping Lines, one of the oldest and largest private shipping companies in Iran, is looking to expand its presence in this region while at the same time strengthen its shipping network.

Its collaboration with Northstar Development will look at the purchase or lease of additional vessels to expand its current fleet of bulk carriers and cargo vessels.

During the signing ceremony. – NORTHSTAR DEVELOPMENT SDN BHD

The collaboration is also to establish Brunei as a trading hub as the two companies span their shipping network regionally and internationally.

In addition to the agreement signing between Northstar Development and Arya Shipping Lines, the event yesterday also saw the exchanges of Memorandum of Understanding (MoU) between Iran TTL and Imariz Co from Brunei as well as PT Aditya Radia Utama from Indonesia.

The MoUs with Iran TTL, a trading arm of Arya Shipping Lines, looks to establish new trading opportunities of goods and commodities between Iran and the region, capitalising on the shipping network brought about through Arya Shipping Lines.

The event also saw the appointment of Amir Tavakoli as coordinator for the Brunei National Chamber of Commerce and Industry in Iran.