Annual trade between Iran Africa grew 2% last year: Report

The value of trade between Iran and Africa rose two percent in the past Iranian calendar year 1401 (ended on March 20), the vice president of Iran and Africa Merchants Club Ruhollah Latifi announced.

He put Iran-Africa annual trade at 2.545 million tons worth $1.278 billion.

Iran exported 2.452 million tons of products valued at $1.183 billion to 49 African countries in the past year, showing one percent fall, and imported 92,898 tons of goods worth $95.316 million from 23 African countries, indicating 59 percent growth, year on year, according to Latifi.

He said that South Africa, Mozambique, Ghana, Sudan, Nigeria, Kenya and Ivory Coast were the first seven destinations of Iranian goods in the African continent in 1401.

Latifi said Tanzania, Kenya, South Africa, Ghana, Seychelles, Egypt and Congo were the first seven African sources of imports for Iran in the past year.

Iranian Deputy Foreign Minister for Economic Diplomacy Mehdi Safari said that the economies of Iran and the African continent are complementary to each other, and due to their abundant capacities, significant achievements can be achieved in this due.

He made the remarks at the Scientific and Economic Cooperation Meeting Between Iran and West African Countries (IRAN WAC) which was held in Tehran in mid-March.

Referring to the Leader's words regarding the expansion of economic cooperation with neighboring countries and especially the African continent, the official said: “In the 13th government, after giving priority to the development of economic diplomacy with the neighbors, increasing trade with the African continent was emphasized and follow-up in this field was put on the agenda.”

Head of Iran’s Trade Promotion Organization has also said the country is taking the necessary steps to increase annual trade exchanges with African countries to $5 billion by the Iranian calendar year 1404 (begins in March 2025).

002