Romanian exports to Iran increased by 71.73 pct in first four months of 2016

Newsroom 12/07/2016 | 15:18

The vice- prime-minister Costin Borc, the minister of Economy discussed on July 11 with Majid Takht Ravanchi, the Iranian deputy minister of external affairs, who is responsible for the bilateral relations of Iran with the European and American states, about the interest of the government authorities from Romania and Iran to develop bilateral trade relations.

Borc emphasized the interest for economic reports with Iran in the current context, underlining the strategic advantages of the Romanian position, the logistics facilities that Romania owns in Constanta harbor development capacity.

He also talked about the possibility of the authorities from Bucharest to support the start of Romanian investments in Iran, especially in fuel field, fuel and gas transport infrastructure and tourism, as well as Iranian investments in Romania.

Currently, because of an international embargo, which blocks the transfer of funds, there are no Iranian investments in Romania.

The current tendency in Romanian trade is of growth, in the first four months of 2016 reaching USD 111.73 million, out of which USD 68.73 million were Romanian exports ( a growth of 71.73 percent compared with the same period in 2015). The imports from Iran grew sharply, from USD 4.5 million to USD 43.4 million for the same period (an increase of 867.6 percent).