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Iran-U.S. chamber of commerce established: report

16 October 2013 19:50 (UTC+04:00)
Iran-U.S. chamber of commerce established: report

By Sara Rajabova

Despite the sanctions imposed on Iran by the United States over its nuclear energy program, an Iranian-U.S. joint chamber of commerce has been established as an NGO, Tasnim news agency reported.

"Maybe the NGO could be effective in resolving problems. Maybe the joint chamber of commerce could materialize Iran's objectives," Iranian Central Bank Governor Valiollah Seif said.

In September, ISNA quoted deputy director of Iran's Trade Promotion Organization Kiyumars Fathollah Kermanshahi as saying that Iran is hopeful about an improvement in its trade ties with the U.S.

Thanks to a positive political atmosphere created between the two countries, two-way trade is expected to be enhanced, he said.

U.S. President Barack Obama and President Hassan Rouhani had a telephone conversation during the latter's visit to the United States to attend the UN General Assembly session. It was the first direct communication of the U.S. and Iranian officials since Iran's Islamic Revolution of 1979 and was deemed as a thaw in U.S.-Iran relations.

Seif said the two countries may establish a joint chamber of commerce, adding that Iran has no problem in establishing trade ties, except for those with Israel.

Trade between Iran and the U.S. exceeded $40.2 million in the first four months of the current Iranian calendar year, which began on March 21, ISNA reported, citing data released by the Iranian Customs Office.

The United States exported $40 million worth of goods to Iran and imported $295,000 worth of goods in this period.

Trade between the two countries amounted to $78 million in the same period of the past Iranian calendar year.

However, earlier, ISNA quoted Iran's Trade Promotion Organization official Abdolhamid Asadian as saying that there is no direct trade between Iran and the U.S. at present.

Goods which are being registered at Iranian customs offices as imported from the U.S. are in fact goods which have been indirectly imported to Iran via the U.S., Asadian said recently.

Trade between Iran and the U.S. amounted to $133.8 million in the past Iranian calendar year which ended on March 20, showing a 32 percent growth year-on-year, according to the Iranian customs' data.

U.S. exported $132.4 million worth of goods to Iran and imported $1.4 million worth of goods from the country in the past year.

According to a Reuters report, U.S. exports to Iran rose by nearly a third in 2012, chiefly because of grain sales, despite the tightening of U.S. financial sanctions.

The U.S. and some of its allies suspects Tehran's nuclear program may be aimed at developing nuclear weapons capability, but Iran insists it is purely for peaceful purposes. Tehran has rejected the allegations, arguing that as a signatory to the Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it is entitled to developing nuclear technology for peaceful purposes.

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