Iran eyeing increase in trade with Spain

Business Materials 15 October 2021 18:26 (UTC +04:00)
Iran eyeing increase in trade with Spain

TEHRAN, Iran, Oct.15


Iran is seeking to improve economic cooperation with Spain as the trade volume declined by COVID-19 outbreak and money transaction issues, said a member of Iran-Spain Joint Chamber of Commerce, Trend reports citing ILNA.

Iranian companies are cooperating with Spanish firms in trading tile and ceramic, medical and oil products, Asghar Ahani said.

Trade volume between the two countries is affected by coronavirus spread and difficulty of transferring money exports revenue back to Iran that is currently done by foreign exchange offices.

The released statistics show Iran exports to Spain was 92.4 million euros in 2019 that reduced to 63.8 million euros in 2020, which included saffron, steel, nuts, sanitary products, plastic raw materials, marble, and granite. The exports are mostly done via intermediaries.

Iran imports from Spain in 2019 were 225.7 million euros that declined in 2020 to 205.6 million euros. The major part of imports included machinery, consumer goods, livestock inputs, and agriculture equipment.