Iran Exports to Kuwait Plummet by 40%
IRAN NEWS ECONOMIC DESK
TEHRAN – Head of Iran-Kuwait Joint Chamber of Commerce Hani Feysali says in recent months Kuwait has stopped letting Iranian wooden launches enter their waters and only food stuffs are exported to this country by refrigerated-containers and the total Iran’s exports to Kuwait have fallen by 36 to 40 percent.
Speaking to ILNA, Feysali talked about the latest developments about Iran-Kuwait trade, saying that the trade exchange between both states has unfortunately been downtrend in recent years as the total trade volume from $400m in 2020 fell to $186m last year.
He noted that we should consider this point that Kuwait follows its elder brother Saudi Arabia’s footstep and there are some hands in the Kuwait Government which does not let Iran have trade with this country easily.
Feysali added that the outbreak of the Coronavirus worsened the situation and Kuwait stopped letting Iranian wooden boats and launches to carry goods to this country due to the virus pandemic and Iran just is able to export food stuffs to Kuwait in refrigerated-containers. He added that these woes have affected Iran-Kuwait trade as Iran’s exports to this country have fallen between 36 to 40 percent.
He criticized weakness of Iran’s economic diplomacy, adding that among Arab states, Kuwait after Saudi Arabia is the major importing country and this potential creates suitable potential for Iranian traders to take the control of exports to Kuwait but Iran’s weak diplomacy has robbed them of this opportunity.
Feysali reiterated that Iran’s weak diplomacy and political consultation regarding this issue is undeniable. He further added that currently veteran Iranian traders are in charge of exports to Kuwait because the young traders are denied for visas despite the chamber’s efforts to sort out this issue.
He added that if we see country like Turkey takes the control of all markets in the region is because of cooperation between the government and the private sector, and there is no hindering regulation in way of trade and even Turkish government grants certain facilities and concessions to traders while in Iran the regulations are the otherwise and obstacles.
