British Iranian Chamber of Commerce talks economic relations of two countries

Business Materials 19 November 2018 16:41 (UTC +04:00)

Tehran, Iran, Nov.19


The secretary general of the British Iranian chamber of commerce (BICC) Amir-houshang Amini indicated difficulty in trade between two countries due to economic problems created by US sanctions.

"The process of exports has been either suspended or not functioning easily due to money transfer problems,” he told Trend.

Meanwhile, the British Foreign Secretary Jeremy Hunt is on a visit to Iran for the first time.

Amini went on to say that the economic relations between Iran and Great Britain are like other European countries and it has the same problems.

"But comparing to other European countries, we can say these problems are worse for the UK, since it trades in British Pound Sterling. Also, in the current conditions the British banks have no connection with Iran, but in my opinion this relationship will improve soon and a bright future has been predicted for it,” he added.

"Currently there are problems with trade due to lack of money transfers. The ties between small and medium Iranian companies with their British counterparts which are not related to the US, are good. In general, the volume of Iran's exports to UK is worth $25 million that includes nuts, food items, agricultural materials, industrial materials, oil and gas valves," Amini said.

The official noted the negotiations to solve the economic problems.

"These economic problems between the two countries have no economic reason, so the BICC cannot negotiate and solve it, most of the problems are political. We never had economic or trade problems with UK if there was a challenge it was a political issue. The current money transfer problem, although is economical but it is directly connected to the politics."