BAKU, Azerbaijan, Jan. 13
By Elnur Baghishov - Trend:
Iran’s trade with Germany fell by almost 25 percent in eight months (March 21-Nov. 21) of this Iranian year (began March 21, 2019) compared to the same period last year, said Rasoul Ranjbaran, a member of the Board of Directors of the Iran-Germany Joint Chamber of Commerce, Trend reports referring to EghtesadOnline economic website.
Ranjbaran noted that the trade turnover between the two countries for eight months was about 2.7 billion euros.
The member of the board added that by the end of this Iranian year, the trade turnover between the two countries is projected to decline by almost 30 percent compared to last year.
Because of the US sanctions against Iran, imports of medical supplies, medicine and foodstuffs from Europe to Iran, as well as exports of products that are under sanctions to European countries, are expected to decrease, Ranjbaran said.
Referring to the situation with bringing foreign currency to Iran that was obtained from exports to Germany, the member of the board noted that there is no way for banking exchanges between the two countries.
Iran’s trade turnover with Europe will reach 3 billion euros by the end of this Iranian year, Ranjbaran added.
Europe-US trade is more than $1 trillion, so European countries are cautious about increasing trade with Iran, said the board member.
The US imposed sanctions on Iran in November 2018 and expanded the list of sanctions in several stages. This had a significant negative impact on Iran’s foreign trade with many countries.