iran imports Archives - Iran News Daily

Germany shipments to Iran in 11 months at €1.3b

reporter 1222 — Sat, 11 Jan 2020 09:58:05 +0000

TEHRAN (Iran News) – Germany shipments to Iran during the first 11 months of 2019 amounted to around €1.3 billion ($1.44 billion), preliminary data from the Statistics Office showed on Friday.

Germany shipments primarily deliver machines, chemical products, food, and pharmaceutical products to Iran, reported Reuters.

German imports from Iran reached some €191 million during the 11-month period.

Reuters said Friday that a ship was due to load about 50,000 tons of wheat in Germany for Iran within days. Traders say wheat shipments to Iran are also expected from the Baltic region.

A forum entitled “Iran-Germany Commercial Relations: Situation and Prospects” was held in Tehran back in October.

Deputy German Ambassador to Iran Oliver Schnakenberg, CEO of German-Iranian Chamber of Commerce and Industry (AHK) Dagmar von Bohnstein, the head of Tehran Chamber of Commerce, Industries, Mines and Agriculture, Masoud Khansari, and head of AHK in Iran Abbasali Qassaei were among participants at the event.

The two sides explored ways of overcoming these barriers and put forward solutions to ease economic interactions, especially under the current sanctions regime imposed by the United States against Iran.

In 2017, the figure indicated growth of 14.89 percent in terms of value compared to the amount for the same period of the preceding year, the Iranian Customs Administration announced.

The post Germany shipments to Iran in 11 months at €1.3b appeared first on Iran News Daily.

Iran exports to Iraq declined during Iraq unrests

reporter 1222 — Sun, 01 Dec 2019 09:57:21 +0000

TEHRAN (Iran News) – An Iranian business leader says Iran exports to neighboring Iraq have decreased over the past two months amid escalated protests across the Arab country.

Seyyed Hamid Hosseini, who serves as the secretary-general of Iran-Iraq Joint Chamber of Commerce, said on Saturday that the total value of Iran exports to Iraq between March and October this year had declined by $540 million compared to the similar period in 2018.

He said protests and riots that began in Iraq since early October was the main reason for the plummeting export figures as he insisted that the value of Iranian shipments sent to the Arab country had increased year-on-year in the first six months of the Iranian calendar year ending on September 23.

“Borders are open, movement continues and exports keep going on but recession in the Iraqi market and insecurity has affected the shipments and have caused our exports to decline,” said Hosseini in an interview with the Fars news agency.

What was initially a peaceful protest movement against corruption in Iraq has now turned into violent clashes and rioting in major cities across the country. More than 400 people have been killed in the riots which authorities in Baghdad blame on certain foreign governments.

Iraq is a major trade partner for Iran with authorities aiming to reach a target of $20 billion in Iran’s exports to the Arab country in the near future.

Hosseini said exports to Iraq in the first seven months of the Iranian calendar year ending October 23 had topped $5.117 billion, down more than 11 percent compared to the last year.

He said, however, that demand for Iranian goods and services in Iraq’s semi-autonomous region of Kurdistan had surged after Turkey, a main exporter to the region, began its all-out military intervention into Kurdish-dominated areas in neighboring Syria last month.

The post Iran exports to Iraq declined during Iraq unrests appeared first on Iran News Daily.

Exchange rate for importing basics remains unchanged

reporter 1222 — Sun, 24 Nov 2019 08:59:26 +0000

TEHRAN (Iran News) – Head of Plan and Budget Organization of Iran said Sunday that Iran’s budget for the next fiscal year still defines the exchange rate for importing basics remains at 4200 tomans to $1.

Mohammad Bagher Nobakht said the draft of the country’s budget for the next fiscal year was submitted to the government on Sunday.

He dismissed rumors that the government was going to increase the exchange rate for importing basics at 42000 rials to $1 by unifying the official and the free market rates in the next year’s budget, adding “Mr. President has ordered that all basic and staple goods for the next year be imported with the official exchange rate of 42000 rials.”

He then stressed that the country is in good conditions regarding its foreign exchange reserves.

Nobakht said that the Budget Bill for the next Iranian calendar year (to start March 21, 2020) will be submitted to the Parliament (Majlis) on Dec. 6.

In response to the question on “how many crude oil barrels will be exported from the country according to 2020 Budget Bill and/or whether $14 billion worth of budget will be considered again for importing basic commodities into the country”, he stated, “these issues have yet to be finalized and will be reported if they are finalized.”

The post Exchange rate for importing basics remains unchanged appeared first on Iran News Daily.

Iran exports $2.5b of commodities to Turkey during January-May

reporter 1222 — Wed, 03 Jul 2019 05:56:11 +0000

The released data also show that Turkey’s exports to Iran during the five-month period of this year has fallen 10 percent to $1.022 billion from $1.139 billion in the first five months of 2018, Tasnim news agency reported.

Iran-Turkey worth of trade stood at $3.592 billion during January-May 2019, dropping 25 percent from $4.574 billion in the same period of time in the past year.

On May 19, Turkish ambassador to Iran said his country wants the barriers in the way of trade with Iran to be removed, IRNA reported.

The envoy said if some of the obstacles are removed, Turkish businessmen and investors would be keen to come to Iran.

“The obstacles facing Turkish investors, which are often related to Iran’s regulations, should be resolved”, Derya Ors said at a meeting with Tehran’s governor.

Turkish merchants are now well represented in Iran and have invested in units such as Razi and Pars Hayat petrochemicals, he said.

Ors went on to say that the existing barriers to Turkish investment in Iran are more in keeping with the rules that prevent investors from investing in some fields.

The Turkish ambassador in Iran said: “These issues are regularly reviewed by the two governments on the negotiation table, and all the doors are open for negotiations.”

He also announced that the meeting of Iran-Turkey Joint Economic Committee will be held in summer or fall of this year, and members will discuss all the existing problems and solutions for removing obstacles.

On June 14, Head of Iran-Turkey Joint Chamber of Commerce said Turkey’s trade center in Tehran is completely active and the trade is going smoothly between the two countries.

“Although there are small problems with money transactions but still we manage and the trade is going on smoothly,” Reza Kami told ILNA.

Kami noted that Turkish companies are willing to contribute to the reconstruction projects in the flood-stricken regions, saying “Turkish companies have a good history in manufacturing prefabricated houses, and in recent years we have seen that a few Turkish companies were active in Mehr Housing Projects.”

He further mentioned establishment of an Iran-Turkey special economic zone, noting that the two sides are determined in this regard but there are still some issues that should be discussed and resolved.

Mentioning the impact of sanctions on trade between the two countries, Kami said: “The Turkish authorities have repeatedly stated that they are not going to comply with the U.S. sanctions, but obviously the sanctions have created some problems regarding banking relations, and it should be also borne in mind that the entire region’s economy is in recession.”

In early June, Iran’s Ambassador to Turkey Mohammad Farazmand announced that Iran and Turkey are working on a financial mechanism channel to bypass the U.S. unilateral sanctions.

The ambassador said that such mechanism is aimed at preventing bilateral trade from falling victim to trans-regional players.

The post Iran exports $2.5b of commodities to Turkey during January-May appeared first on Iran News Daily.