Iran Reports Significant rise in Exports to African Countries

The Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) said in a Saturday report that exports from the country to Africa had increased by 2.2 times in the four calendar months to late July compared to the same period last year.

The ICCIMA cited a statement from Masoud Barahman, a senior businessman overseeing trade between Iran and African countries, which showed that exports to Africa had expanded over the past five months to cover more markets.

Barahman said that the number of African countries importing Iranian non-oil commodities had increased to 34, from 29 reported in March, Press TV reported.

He said that Iranian exports to Africa would further rise in the upcoming months with increased shipping activity and an easing of customs regulations.

Figures by the Iranian customs office released in July showed that Iranian exports to African countries had increased by 85% year on year in the three months to late June to top $260 million.

Iran invited dozens of government officials and business leaders from African countries to a major economic cooperation conference held in Tehran in late April.

The conference gave Iran a major opportunity to expand its export markets in Africa, where it seeks to strengthen its economic foothold in the near future.

Iran’s plans to expand trade relations with Africa are in line with the country’s broader efforts to diversify its economy and to reduce its reliance on oil export revenues.