Iran to establish shipping line between Persian Gulf and Africa

2021-10-20 21:30:46
Iran to establish shipping line between Persian Gulf and Africa

The head of Iran’s Trade Promotion Organization (TPO) has announced plans to launch a shipping line between the Persian Gulf and Africa to export Iranian goods and services to the continent.

The announcement was made Alireza Peyman-Pak, director of TPO, which is affiliated to Iran’s Ministry of Commerce.

Peyman-Pak said establishing Iranian trade centers abroad was one of the priorities of the agency.

Iran plans to expand trade with Africa

Tehran's efforts to boost ties and cooperation with Africa have led to its acceptance as an observing member of the African Union, where it has shown an active presence in the AU summit meetings.

Iran plans to make use of government agencies, private sector and international institutions to expand with trade with Africa.

Iran exported $642 million worth of commodities to Africa from 2018 to 2019, and imported goods worth $16 million from Africa in return, according to trade data.

Experts say trade and economic cooperation between Iran and African nations are far less than the capacities and mutual interests of the two sides.

They say the lack of direct sea and air transportation infrastructures, high transportation costs, the absence of diplomatic relations with many African countries and Western sanctions are among the main obstacles for trade between Iran and Africa.

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