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Official calls for enhanced trade ties between Iran, Italy

Business Materials 2 September 2018 10:00 (UTC +04:00)

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Tehran, Iran, August 31

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The head of Iran-Italy Chamber of Commerce said the volume of trade exchange between Tehran and Rome currently stands at €1.7 billion.

"The trade turnover between the two countries stands at €1.7 billion," Ahmad Pourfallah said on August 31, Fars news agency reported.

He added that Italy has been a reliable trade partner of Iran for many year since the victory of the Islamic Revolution in 1979.

Stressing the need for enhanced ties between the two countries, the official said Italy is importing petrochemical products, oil, leather, and stones from Iran.

"Iran is also importing technology and machinery from the European country," Pourfallah said.

Among EU nations, Italy is a major trade partner for Iran. With more than €2.58 billion worth of purchases, Italy was the main export destination for Iranian products during the 10 months to Oct. 31, 2017, registering a significant 315 percent increase compared with the corresponding period of 2016.

The European nation was also the second biggest exporter to Iran among other EU member states during the same period after Germany, as it shipped €1.38 billion worth of commodities to Iran, up 14.5 percent year-on-year.

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