Trade discussions between USA and Iran

Feb. 26 Iran will spend 5- Billion in U.S. over five years. 8 Nuclear Plants Ordered - Accord Described as Biggest of Its Kind.: The United States and Iran announced today the signing of a major economic agreement that commits Iran to spend about 5-billion on American goods and services over the next five years. At a joint news conference at the State Department with the Iranian Finance Minister, Hushang Ansary, Secretary of State Kissinger said, This is the largest agreement of this kind that has been signed by any countries.'In addition to the target figure of 5-billion - an increase of about 30 per cent over current Iranian spending in the United States - Iran agreed in principle to spend about -billion more on as many as eight large nuclear power plants in the next decade with total power of 8, 000 electrical megawatts. Although Iran is a major exporter of oil, the communique issued at the end of two days of talks between members of the United States-Iran Joint Commission emphasized the non-oil aspects of the agreement. Target Announced In the light of the strong desire on the part of the two sides to extend areas of mutual cooperation, the commission set a target of 5-billion in total non-oil trade between the two countries during the next five years, the communique said. Is answer to question Mr. Kissinger and Mr. Ansary Indicated that the current level of non-oil trade was running overwhelmingly in the American favor and that almost all the 5-billion would be to the American in the last year. Mr. Ansary said, Iran sold 0-million in nonoil'goods to the United States and purchased 00 million in civilian goods and.5 billion in military equipment and services. Mr. Ansary said that Iran which exports oil mainly to Western Europe and Japan, sold only a negligible amount to the United States. Confusion Over Figures There was considerable confusion at the news conference over the statistics being given out. At one point Mr. Kissinger, after whispering to his sides and to Mr. Ansary, said that there would be a clarification later. The problem arose in part because the communique referred to the 5-billion trade goal in the next five years, and another figure of 12-billion to be spent on Iranian development projects over unspeci-

Restrictions Only for United Kingdom

Accord Addition Agreed Agreement Although Amount Announced Answer Arose Aspects Biggest Billion Cent Clarification Commission Commits Communiqué Confusion Considerable Current Decade Described Desire Emphasized Exporter Exports Extend Favor Increase Indicated Iran Iranian Issued Joint Kissinger Level Mainly Mutual Ordered Principle Projects Purchased Question Referred Spend Spending Spent Statistics Target Whispering

Features In These Collections

> Contributors > KEY