Iran recommences petchem exports to Britain

July 4, 2016 - 10:21

TEHRAN - Iran resumed petrochemical exports to Britain sending a consignment to the country for the first time after lifting of the international sanctions, Mehr news agency reported on Sunday.

According to the report, before international sanctions imposed on Iran, European countries accounted for about 13 percent of the country's exports of petrochemical products, so that each year about $2.5 billion worth of Iranian petrochemical products were sent to European countries.
In the post-sanction opportunity, Iran plans to regain its lost market share for this strategic industry. In this regard Iran began exporting petrochemical products to Britain again, making it Europe's fourth largest country to join the customers of Iranian petrochemical products after France, Italy and Germany.
It is worth mentioning that other countries such as Bulgaria, Romania and Greece are also among customers of Iranian petrochemical products.
Meanwhile, in an interview with Mehr, Deputy Director of Iran's Petrochemical Employers Association Fariborz Karimaei mentioned rivals such as Saudi Arabia and Qatar seizing Iran's share of petrochemical exports to Europe and said, “With sanctions fully lifted, it is possible for Iran to regain its lost market share within 1.5- 2 years.”