Iran, EU trade increases 79% following nuclear deal

ایران و اتحادیه اروپا

Tehran (ISNA) - Trade between Iran and the European Union has increased by 79 percent since the implementation of the nuclear deal, known as JCPOA, in January 2016 and generally Iran's exports to the European Union have increased three-fold, European Climate Action and Energy Commissioner Miguel Arias Canete announced.

Canete made the remarks in the opening ceremony of the first Iran-EU Business Forum on sustainable energy, which has brought together more than 50 European companies and business associations and some 40 Iranian energy companies.

Iran's exports to the EU stood at 5.494 billion euros in 2016 as compared to 1.235 billion euros in 2015 due to the EU resuming oil imports from Iran following the nuclear deal.

“The nuclear deal has paved the way for the resumption of Iran-Europe cooperation in different fields,” he noted.

The commissioner further stated that EU is ready to provide Iran with their knowledge and experiences in renewable energies sector to help the country reach its goal of a 30 percent renewable power supply by 2030.

“EU is even ready to facilitate the presence of European companies in Iran to help attract necessary investments in this area,” Canete added.

Feasibility of sustainable development of energy in Iran, expansion of Iran-EU trade ties in energy sector, and the country’s potentials in developing renewable energies were among subjects that were explored in the forum.

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