Spanish trade delegation to visit Iran

Business Materials 21 November 2015 13:33 (UTC +04:00)

Baku, Azerbaijan, Nov. 21

By Fatih Karimov- Trend:

A trade delegation from Spain's Basque Country will visit Iran to study business grounds and evaluate investment opportunities.

The Eusko Ganberak - Basque Chambers of Commerce, with the support of the Basque Country's governing body, organized a mission to Iran, from Nov. 21 to 26, Spain's Empresa Exterior reported.

The business sectors represented in the delegation includes steel industry products, automotive, capital goods, industrial and architectural engineering, power transmission, electrical appliances and consumer goods.

Before the trade restrictions imposed by sanctions, trade relations between Iran and Spain's Basque Country reached a significant increase, in particular in petrochemical sector, according to the report.

Following the nuclear deal inked last July between Iran and the P5+1 (the US, Russia, China, France, the UK, and Germany), Tehran's former trade partners, including the EU, started to explore cooperation in the post-sanctions period.

International sanctions against Iran are expected to be lifted in next two months.

Spain was one of the main Iranian trade partners in the EU in the first half of the current Iranian fiscal year, which began on March 21, according to the Iran Customs Administration.

Iran exported $130.5 million of non-oil goods, mainly iron, saffron, grape and carpet, to Spain and imported $89.1 million of non-oil goods, mainly carbon electrodes, crane, printing ink and graph paper, from the country during a six-month period.