Trade between Iran and Africa top $880 million in six months

Transactions between Iran and African countries stood at 1.65 million tons worth $881.16 million during the first six months of the current fiscal year (March 21-Sept. 22).

South Africa with 393,564 tons worth over $214.01 million was Iran’s main trading partner during the period, registering a 17.61% and 102.92% growth in weight and value respectively, the Financial Tribune reported.

It was followed by Mozambique with 261,037 tons (up 1,182.81%) worth $145.44 million (up 2,119.11%) and Nigeria with 194,721 tons (up 45.14%) worth $114.93 million (up 162.86%).

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

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 main obstacles for trade between Iran and Africa is the lack of direct sea and air transportation infrastructures, high marketing and transportation costs.

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