US sanctions won’t create problems for Iran-Europe trade relations

Business Materials 10 November 2018 17:27 (UTC +04:00)

Baku, Azerbaijan, Nov. 10

By Elnur Baghishov - Trend:

Iran and European countries have a long history of trade, and the US sanctions won’t create problems for the trade relations between Iran and Europe, so, Iranian businessmen can be active in European markets, said Abdolhamid Asadian, former director general for European and American Trade Department at Iran’s Trade Promotion Organization, Shata news agency reported.

He said that many Iranian companies have branches in European countries and many European companies have branches in Iran. Famous and big European companies can continue their trade with Iran by changing their strategies and forming smaller companies under new names, he added.

Losing a large market like Iran isn’t considered logical by these companies, he said.

“One of the ways to get out of this situation is to strengthen trade offices in Iran’s embassies in the European countries,” he noted. “Participation of economic attaches in European countries will help to find new ways to meet Iran’s needs via these countries, and will lead to an increase in imports and exports.”

Due to the US sanctions, some imported goods may face an increase in shipping costs, he said.

Iran’s Ministry of Industry, Mine and Trade with the help of Iran’s Chamber of Commerce should place companies’ offices and employees in European countries in order to expand trade between Iran and Europe, he added.