Shipment costs in Iran increases
Tehran, Iran, Sep.26
The cost of maritime shipment has tripled due to Iran's trade limitation. Foreign shipment companies no longer provide services to ports of Iran so the country is limited to small domestic companies to transfer goods, said the former vice president of Iran's Chamber of Commerce.
"Bank transaction with other countries is an issue and Iran is forced to choose forex offices for money transfer that would increase the costs of export and import," said Pedram Soltani, Trend reports citing ILNA.
"In the current situation, Iran's major export destination is the UAE and the Emirati companies are the intermediary between Iran's trades and other countries that would increase the costs," he added.
"The other part of Iran's maritime trade is with China and India therefore launching a sea line would help the volume of trade," he noted.
"Iran being blacklisted in the Financial Action Task Force (FATF) has created problems for bank transaction and trade and even if the sanctions would be lifted, the country would have difficulty for bank transactions that would increase costs," he said.
"Due to sanctions there have been little interest in Iranian goods and the country had difficulty purchasing equipment and machinery and export to Europe, Japan, and South Korea that is currently done via intermediary companies," he added.