News ID: 124897
Published: 0726 GMT August 19, 2015

Ukraine economy chief to lead delegation to Iran

Ukraine economy chief to lead delegation to Iran

Ukraine's Economy Minister said Wednesday he would follow his European colleagues to Iran seeking business opportunities from the anticipated easing of sanctions on the Islamic Republic.


Economy Minister Aivaras Abromavicius said his three-day trip starting September 14 would include a "large group of industrial leaders" as well the war-torn state's agriculture minister, AFP reported.

Abromavicius told a Ukrainian cabinet meeting that the former Soviet nation wanted to improve relations with Tehran after removal of Anti-Iran sanctions. 

Economically struggling Ukraine has already signed a $3 billion (2.7-billion-euro) loan-for-corn deal with China and hopes to replicate that in Europe and the Middle East.

A range of European countries – including economic powerhouse Germany -- have already either sent business delegations to Tehran or lifted some of their unilateral trade restrictions on Iran.

Kiev's state statistics service said trade between the two countries only reached $756 million last year. Ukrainian exports accounted for more than 90 percent of that amount.

Iran is looking for new oil clients and itself is in need of industrial goods and agricultural products.

The Ukrainian economy relied on exporting such products prior to the outbreak of its 16-month clashes in the country.


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