Azernews.Az

By Trend

The new markets that Iran’s petrochemical industry found in the post-sanctions era in Europe and elsewhere are the pioneer of a new era in Iran’s economic cooperation with the world, said Majid Baten, international relations director at Iran’s Petrochemical Industry Employers Association.

"As statistics show, after sanctions were lifted, Iran’s petrochemicals started going to new international markets, including Europe, Asia, the Americas, and Africa and exports are expected to increase 30 percent," Baten told Trend April 15.

Under sanctions, he noted, it was difficult to carry out the money transfers, but now after the nuclear deal has been put to force, Iran is going to regain its traditional markets.

According to Baten, over the past months famous international companies such as Siemens, Linde, BASF, Shell, etc. visited Tehran to start new rounds of cooperation with Tehran.

They have met many officials from upstream and downstream sectors and the talks point to a bright future in the petrochemical industry, he asserted.

Iran also exported $14.34 billion of petrochemicals, indicating a rise by 9 percent compared to the preceding year during the last Iranian fiscal year (ended March 20, 2017).

Iran produced 50 million tons of petrochemical products during the last Iranian fiscal year, setting a new record with 8 percent improvement year-on-year.

---

Follow us on Twitter @AzerNewsAz

r-on-year.