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Iran's export to Kuwait declines

Business Materials 3 July 2020 17:24
Iran's export to Kuwait declines

TEHRAN, Iran, July.3

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Iran's export to Kuwait has declined by nearly 40 percent in the first three months of the current Iranian year (started March 20, 2020), said the head of Iran-Kuwait Joint Chamber of Commerce.

"Iran only exports food items to Kuwait that are being transported in refrigerator containers; however, Kuwait does not allow small Iranian carriers enter due to coronavirus spread," said Hani Feysali, Trend reports citing ILNA.

"The trade between the two countries during recent years has been affected by Saudi Arabia pressure and now by the coronavirus spread," he added.

Iran and Saudi Arabia has cut their diplomatic relations since 2016; the political tension between the two countries has grown and Saudi Arabia tried to convince other Persian Gulf states to avoid trading with Iran.

"The trade turnover between Iran and Kuwait decreased from $400 million in 2018 to $186 million in 2019," Feysali said. "Kuwait has the highest volume of import among Arab countries after Saudi Arabia, and this is a good potential for Iranian goods export, but Kuwait has decided to not trade with Iran."

"The current trade with Kuwait is done by experienced merchants and it's not possible for new tradesmen to work since new visas are not being issued. The issue of visa for Iranian tradesmen has been discussed by Iran-Kuwait Joint Chamber of Commerce, but this hasn't yielded any result yet," Feysali added.

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