Iran, Romania Seek Stronger Economic Ties Despite Underwhelming Trade Volume

TEHRAN (Iran News) Speaking in Tehran, Qiafeh highlighted that although Iran has 34 regional chambers, 39 joint chambers with other countries, and over 110,000 members representing small, medium, and large enterprises, trade with Romania remains modest. According to the latest figures, trade between Iran and Romania stands at $348 million—an amount Qiafeh described as “insignificant” considering the combined GDP of over $700 billion between the two countries.

He emphasized that the two economies are complementary, but cooperation has been limited mostly to sectors such as petrochemicals, construction materials (from Iran), and car parts, corn, and wheat (from Romania). He urged expansion into other high-potential sectors, citing Romania’s strengths in agriculture, automotive manufacturing (including the well-known Dacia brand), and oil and gas equipment.

Qiafeh also pointed out logistical and tariff-related barriers hindering trade, suggesting that infrastructure such as the Port of Constanța—a key transit route linking the Indian Ocean to the Black Sea—could play a vital role in resolving some of these challenges.

Iran, he said, brings key advantages to the table, including rich resources in oil, gas, and ferrous and non-ferrous metals. Despite decades of sanctions, Iran has achieved global recognition in advanced technologies, ranking fifth worldwide in nanotechnology and making notable progress in pharmaceuticals.

To unlock the full potential of bilateral ties, Qiafeh proposed forming joint banking working groups and ensuring the implementation of previously signed agreements. He also advocated for a five-year roadmap to increase annual trade volume to $1 billion, suggesting regular participation in each other’s trade exhibitions as a way to build trust and partnerships.

Echoing these sentiments, Gogulescu welcomed the dialogue and provided historical context, noting that in 2016, trade between the two nations exceeded $400 million before declining due to various factors. He called on both chambers to reinvigorate ties by promoting mutual participation in trade shows and building stronger relationships among private sector players.

He referenced a memorandum of understanding signed in 2000 and a 2023 agreement between the Chamber of Commerce of Prahova Province—which he chairs—and the Chamber of Commerce of Hamedan, Iran. Under this agreement, a 30-member Iranian delegation from Hamedan is set to visit Romania in June 2025, where they will host an exhibition showcasing Iranian handicrafts, jewelry, and porcelain.

Gogulescu also underscored the historical and industrial significance of Prahova, home to the world’s first oil refinery and three of Romania’s four refineries. He added that the province offers unique tourism opportunities, especially in mountainous regions.

Both officials concluded by affirming that chambers of commerce in Iran and Romania can and should play a leading role in driving economic cooperation forward.