Iran Trade Mission Off to Spain

EghtesadOnline: A 30-member commercial delegation from Iran’s private sector headed by Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture Gholamhossein Shafei left Tehran for Madrid, Spain, on Sunday.

News ID: ۷۷۹۴۶۱

27 September 2017

The Iranian delegation is comprised of representatives of companies active in the fields of agriculture, tourism, banking, mines, petrochemicals, construction and renewable energies, ICCIMA’s news portal reported, adding that the delegates will discuss issues of mutual interest with their Spanish counterparts.

They are also scheduled to visit Valencia on Wednesday to meet local officials and attend a joint commercial forum with economic players from the Spanish port city.

Iran-Spain bilateral trade stood at over $1.4 billion in 2016 with Iranian exports accounting for around $999 million of the sum. Crude oil made up close to $800 million of Iran’s exports to Spain over the period, according to Financial Tribune.

“Spain has been the leading foreign investor in Iran’s industrial and mining sector since President Hassan Rouhani took office in August 2013 with investments worth $3.14 billion,” director general of the Ministry of Industries, Mining and Trade’s FDI Office, Afrouz Bahrami, said in August.

In a meeting with Iran’s Foreign Minister Mohammad Javad Zarif on August 6, President of Spanish Senate Pio Garcia Escudero said “JCPOA (the official name of the nuclear deal Iran signed with world powers in 2015) has created a very good opportunity for boosting mutual trade and investment, and we are already witnessing its positive impact on economic relations between Iran and Spain.”

Escudero was in Iran to attend the inauguration ceremony of President Hassan Rouhani who won a strong mandate in May to lead the executive branch for a second term.