Azerbaijan, Baku, Feb. 12/ Trend F.Milad/
Seventeen European countries circumvented the EU sanctions against Iran, and the Islamic Republic is forecasted to export over $2 billion worth of petrochemicals to Europe by late current calendar year (March 19), Mehr news agency reported.
The National Petrochemical Company (NPC) of Iran is currently exporting its products to 60 world countries, ranking the first in exporting methanol to the Asian countries specifically.
For the time being, Iran holds 24.5 percent share and 2.4 percent share in the Middle East's and the world's petrochemical production, respectively, the report says.
The NPC managing director Abdolhossein Bayat said in July 2011 that the value of Iran's petrochemical exports is expected to reach $14 billion by late current calendar year, Press TV reported.
Bayat stressed that Iran produced more than 40 million tons of petrochemicals in the last Iranian calendar year.
The country also exported 18 million tons of petrochemical products worth $11.6 billion last year, showing a 26-percent increase compared to two years ago, he added.
The European Union formally imposed an oil embargo on Iran and agreed to a freeze on the assets of the Central Bank of Iran on Jan.23, but existing contracts will be honored until July 1.