Exporters advised to look towards Iran as sanctions go
THAI EXPORTERS have been urged to consider Iran as a potential market as six economic giants cancel their sanctions against that country next year.
At an “Iran Day” event, Nuntawan Sakuntanaga, director-general of the International Trade Promotion Department, said Thai traders should start to explore this market after the five permanent members of the United Nations Security Council plus Germany agreed to cancel their trade sanctions early next year.
She said products from Thailand that have high potential of finding a market in Iran included rice, chicken, vegetables and fruits, heavy industrial products, electrical appliances, automobile parts, rubber and rubber products.
The department will lead Thai traders and investors on a visit to Iran from November 23-27, and will organise “Thailand Week 2016”, a trade exhibition, in Iran in February.
According to the Commerce Ministry, trade between Thailand and Iran was worth US$357.17 million (Bt12.8 billion) last year. In the first seven months of this year, two-way trade was valued at $281.08 million, up by 6.57 per cent year on year. Of that figure, Thai exports to Iran accounted for $136.82 million, down by 27.52 per cent year on year.
Major exports to Iran are wood and products, canned fruits, rubber and products, frozen vegetables, beverages, automobiles and parts, and car batteries.
Thailand aims to boost exports to Iran by 1 per cent this year. Iran is considered a gateway to Afghanistan, Iraq and Commonwealth of Independent States countries.
