Tehran, Iran, Oct.7
Trend:
Political factors have reduced Iran-Kuwait trades, vice president of GAC Group and board member of Kuwait Chamber of Commerce & Industry, Mohammad Mirani told Trend.
“Every day we move away from the Kuwaiti market, Saudi Arabia is filling the vacuum, but most Kuwaitis prefer high-quality Iranian products, especially in the case of foods and sweets,” he noted.
"The volume of our exchanges in the first quarter of the year was $107 million, with Iran's exports of about $ 99.5 million and imports of $ 7.5 million," said Mohammad Mirani, regarding the volume of transactions between Iran and Kuwait.
He added that the volume of exchanges in 2017 was about $ 275 million.
He continued: "Our most important export items in the first quarter of the year were mostly non-blended cement known as clinker and iron products derived from the direct recovery of iron flasks. In fact, most of our export goods are usually crude. Given that we were always exporters and few imports from Kuwait, we did not use currencies in official rate.”
“Unfortunately, Kuwait has blocked Iran form its market for several years, its main reason being political ones, but there are a number of businessmen who have been in bilateral business since the past," Mirani said, referring to the decline in trade volumes between Iran and Kuwait in recent years.
Kuwait lowered its diplomatic relations with Iran in January 2016 and recalled its ambassador, saying the decision had been taken following “the storming, torching and sabotage activities carried out by a group of demonstrators on the Saudi Embassy in Tehran and its consulate in Mashhad”.
"Every day we leave, Saudi Arabia works to fill the vacuum in Kuwaiti market in our absence, but most Kuwaitis prefer Iranian qualities, especially in terms of food and dairy," he said.
Referring to Kuwaiti market features, Mirani said Kuwait has pristine and unknown market which unfortunately, Iranian businessmen have been neglected. The Kuwaiti market is a very profitable and totally different market with Iraq. First-class quality products can enter into its market. As a result, competition in its market is high because of the presence of world’s top brands there.
He said that Kuwait's market is open to fresh and daily products such as sweets, fish, vegetables, but unfortunately, due to the lack of regular shipping and air transport services, this market is also available to Iranians with 20 percent.