Baku, Azerbaijan, Jan. 27
By Umid Niayesh - Trend:
Iran's petrochemical products` export to European markets via Turkey can be boosted, since the sanctions against Iran are suspended, the managing director of Iranian Bandar Imam Petrochemical Company, Reza Amiri said, Iran's Pana news portal reported on Jan. 26.
The EU countries suspended certain sanctions against Iran as the Geneva nuclear deal entered into force on Jan. 20. The prohibition on the import, purchase or transport of Iranian petrochemical products and related services was suspended as a result of the nuclear deal implementation.
For the being time Iran's presence in European markets is limited, Amiri said, adding that India, China and south eastern Asian countries are the main target of Iranian petrochemical exports.
Suspending the sanctions will lead to a decrease in transportation costs and insurance problems and will affect Iran's petrochemical exports positively by 10 to 15 percent, he added.
The country's petrochemical exports surpassed $9.19 billion during the first ten months of the current solar year (started on March 21, 2013), the country's customs administration reported on Jan. 25.
Iran's petrochemical exports stood at $8.116 billion during the first nine months of the current solar year, which indicates a 2.3 percent decrease compared to the same period of the preceding year.
The value of the country's petrochemical exports in the calendar year of 1390 (ending on March 20, 2012) stood at $15 billion, but the figure dropped by 33 percent in the next year reaching only $10 billion.