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EghtesadOnline: Trade between Iran and Ireland stood close to €134.5 million in 2017, registering a 140.5% upsurge compared with 2016.

Iran’s trade with Ireland saw the second highest year-on-year increase after Croatia from among the 28 member states of the European Union.

The country exported nearly €1.92 million worth of commodities to the European country last year, up by a staggering 472.5% compared with the previous year, according to the latest Eurostat figures shared with Financial Tribune.

Iran’s imports from Ireland, on the other hand, amounted to more than €132.5 million, showing a 138.56% hike YOY, Financial Tribune reported.

According to Iran’s Ambassador in Dublin Javad Kachooeian, Ireland’s exports to Iran include medical equipment and pharmaceuticals, food, raw materials of carbonated drinks, chemicals and industrial machinery.

“We are already engaged in cooperation with Iran on the export of agricultural equipment and medicine, and technology sharing, which we intend to increase,” Denis O’Donovan, chairman of the upper house of Irish Parliament, said in October at a joint presser after meeting Iran’s Parliament Speaker Ali Larijani. 

Ireland’s state agency Bord Bia embarked on a trade mission with 17 Irish food producers to explore Iranian trade potential at the end of April 2016. The visit was aimed at increasing Ireland’s share in the Iranian food market, following the removal of international sanctions in January.

The delegates, including Irish Minister of Agriculture Michael Creed, met senior officials of Iran’s Agriculture Ministry to discuss trade opportunities for Irish agricultural products, particularly dairy and livestock.

“Iran’s profile as a key player in the region will make it a key focus for any nation with agro export-related ambitions such as Ireland and could be considered a gateway to the region,” Creed said after the visit.

 

Iran Ireland Trade