News ID: 207227
Published: 0616 GMT December 31, 2017

50% surge in post-JCPOA Iran, UK trade ties

50% surge in post-JCPOA Iran, UK trade ties

Annual statistics released by the British Iranian Chamber of Commerce (BICC) indicates a significant surge in the countries trade relationship after the landmark nuclear agreement signed in July 2015.

According to the report seen by IRNA, total export trade from UK to Iran during the 2015-2016 period increased by 50 percent from 112.9 to 171.5 million euros.

This is whilst a reverse trend had been observed at the peak of anti-Iran sanctions during 2011 to 2013. The report indicates that export trades stood at 203.5 million euros in 2011 followed by 119.6 and 89.4 million euros on 2012 and 2013.

The nuclear agreement in 2015 however had great contribution in boosting bilateral trade and economic relationships between the countries.

Speaking to IRNA, Lord Norman Lamont, Chairman of British Iranian Chamber of commerce, said that Britain is willing to increase its trade relationship with Iran both in export and import.

He also indicated that British companies are willing to enter into Iran’s trade market in the aftermath of lifting the sanctions against Tehran.

The report published by the British Iranian Chamber of Commerce also indicates a surge in import trade from Iran, after 2015. The volume of import had increased by 70 percent from 2015 to 2016, according to BICC statistics.

New figures for 2017 has not yet been published, but senior members of the chamber hint at a steep trajectory.

   
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