Over 50 pc growth in Iran trade with Europe in 10 months: Economic official

 IRNA – Iran’s trade volume with Europe had a 52 percent increase during the first ten months of the Iranian calendar year (started on March 21, 2017) compared with the previous year, a senior Iranian economic official announced on Tuesday.

The value of the ten-month trade between Iran and Europe reached 21 billion euros, Massoud Khansari, chairman of Tehran Chamber of Commerce, Industries, Mines and Agriculture said while addressing a local economic meeting here.

About the economic activities in the country, Khansari said Iran’s economic growth rate was 4.5 percent for the first half of the Iranian year.

He went on to say that the International Monetary Fund (IMF) forecast 3.5 percent and 3.8 percent growth for Iran in 2017 and 2018, respectively.

After the January 2016 announcement of ‘Implementation Day’ of the July 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), the foreign countries, the Europeans in particular, rushed to Iran to promote economic cooperation with the country which is one of the world richest in terms of resources.