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EghtesadOnline: Implementation of the JCPOA has made New Zealand hopeful of developing bilateral relations with Iran so much so that volume of trade exchanges will increase up to $1b, experiencing fivefold rise.

New Zealand Minister of Trade Todd McClay, heading a trade delegation, is to pay a visit to Tehran on Friday aimed at giving an impetus to economic ties in the post-sanction era, IRNA reported. 

Since conclusion of the Iran nuclear deal, New Zealand Middle East Business Council (NZMEBC) has been closely following developments in Iran's market in the international market so as to win diversified opportunities.

The Trade volume between Iran and New Zealand has reached over $174m in 2016 which was $90m in the past year. 

Electronics, communications, dairy products, seafood, meat, agriculture technologies, industrial excavation and earthquake-resistant structures are sectors in which the two countries can expand cooperation.

As an oil exporter to New Zealand, Iran now exports dates, pistachios, figs, carpets and polymer to the country, while importing dairy products, milk, sea products and wool.

JCPOA Iran-New Zealand trade Todd McClay