Economy, Business And Markets

22% Rise in Iran-Belgium Trade

22% Rise in Iran-Belgium Trade 22% Rise in Iran-Belgium Trade

Trade between Iran and Belgium during the 11 months to Nov. 30, 2017, amounted to more than €690.6 million, registering a 22% hike compared with the corresponding period of last year. The latest Eurostat figures shared with Financial Tribune also showed that Iran exported over €133 million worth of commodities to Belgium during the period, indicating a 6% decrease year-on-year. Imports from the European country into Iran amounted to close to €557.55 million, which shows a 31% rise YOY. Belgium played a coordinating role during negotiations between Iran and P5+1 (the five permanent members of the UN Security Council plus Germany), which culminated in the signing of the Joint Comprehensive Plan of Action in July 2015. In a meeting with President Hassan Rouhani in Tehran in September 2017, President of the Belgian Chamber of Representatives Siegfried Bracke reiterated the EU promise to safeguard the JCPOA against the harsh attacks of US President Donald Trump. “JCPOA is of utmost importance for Belgium and the EU, and we will make every effort to ensure the EU fulfills all its commitments,” he said.

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