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Iran-South Korea trade declines - Chamber of Commerce

Business Materials 12 April 2021 11:00 (UTC +04:00)
Iran-South Korea trade declines - Chamber of Commerce

TEHRAN, Iran, Apr.12

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Commercial transactions between Iran and South Korea during the last Iranian year (started March 20,2020) was very little, Secretary General of Iran and South Korea Chamber of Commerce Pouya Firouzi told Trend.

"Commercial transactions between the two countries in the Iranian year (started March 20,2020) was very little, small part of items were previously registered so they could be traded," Firouzi said.

"Iran and South Korea trade last Iranian year (started March 20,2020) was at its lowest, part of transactions were related to Iran importing medical items, and also import of commodities that were previously paid for," he said.

"It can be said with certainty that the trade volume of Iran and South Korea during the last Iranian year (started March 20,2020) was at its lowest in the past ten years," he said.

"South Korean companies that supply basic material to Iranian production companies should ensure Iranian companies that they would stick to their commitments and won't bail out like they did previously," he said.

LG Electronics and Samsung have ended their presence in the Iranian market in February 2020, abiding by the U.S. pressures for cutting ties with Iran.

"Iran has exported $32.7 million worth of goods to South Korea in 10 months of the last Iranian (started March 20,2020) and imported $473 million worth of goods from South Korea," said Firouzi.

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