In a response to a parliamentary question from Sinn Fein’s Caoimhghín Ó Caoláin, enterprise minister Richard Bruton said the possible lifting of European trade sanctions with Iran presented a real chance for Enterprise Ireland.
“Commercial conditions remain quite adverse and most international banks will not offer standard financial tools to facilitate trade with Iran,” said Bruton. “However, with the possible lifting of some sanctions and in recognition of the potential represented by the Iranian market, Enterprise Ireland is to carry out an exploratory visit to the market during the early part of 2015.”
Despite the trade sanctions, Irish exports to Iran in 2013 were valued at €57m. The bulk of these were made up of soft drink concentrate and pharmaceutical products. Iranian exports to Ireland in the same period were worth under €1m.
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