Economy, Business And Markets

New Center to Expedite Trade With SE Europe

New Center to Expedite Trade With SE Europe New Center to Expedite Trade With SE Europe

Iran will open in Belgrade an economic and trade center for the Balkans and Southeast Europe in the next two months, a Serbian Trade Ministry official said after a meeting with Iran’s ambassador to Serbia, Majid Fahim Pour.

The ambassador informed the ministry of the interest of certain representatives in Iran’s financial sector to acquire a bank in Serbia to facilitate payments between the two countries and thus expand business ties between Iran and Serbia, the Serbian ministry said in a press release.

Last year the two countries set up the Serbian-Iranian Chamber of Business to boost bilateral cooperation, SeeNews, a Bulgaria-based provider of business intelligence for Southeast Europe, reported.

Iran exported $3.5 million worth of goods to Serbia during the last Iranian year (March 2015-16), recording a 76% rise compared to the year before, according to the Islamic Republic of Iran Customs Administration. Imports stood at $10.2 million, jumping 92% during the same period.

Latest data on Iran-Serbia bilateral trade pertains to the first four months of the current Iranian year (March 20-July 21). According to IRICA, Iran exported 829 tons of goods valued at $767,000 to Serbia, registering a 3% decline; and imported more than 660,700 tons of goods worth $2.1 million, to register a 67% decline during the 4-month period compared to last year’s corresponding period.

Dates, raisins, bread machines, stones and industrial oil were among Iran’s main exports, while imports chiefly included corn seeds, millstones, industrial parts and health products.