Economy, Domestic Economy

Irish Agency to Visit Iran

Irish Agency to Visit Iran
Irish Agency to Visit Iran

An Enterprise Ireland delegation is planning to visit Iran in the new year to scope out potential opportunities for exporters, Irish Independent reported on Wednesday.

The Enterprise Ireland is a semi-state body tasked with drawing up strategies that can be used by exporting companies seeking to explore new markets. It will be the first visit to Iran by the agency in more than seven years.

Enterprise Minister Richard Bruton, however, said that there were no plans for a trade mission to Iran next year but that the visit is only aimed at examining trade opportunities with Iran.

"Due to the EU sanctions that have been in place, Enterprise Ireland has not considered Iran a focus market for some time and has concentrated all efforts on developing opportunities in other more accessible Middle Eastern markets," the minister said.

"However, with the possible lifting of some sanctions and in recognition of the potential represented by the Iranian market, Enterprise Ireland is planning to carry out an exploratory visit to the market during the early part of 2015, the first visit by the agency to this market in over seven years, to investigate opportunities in different sectors."

Iran and the six world powers known as the P5+1 have been negotiating for the past year to resolve a 12-year nuclear dispute with Iran. They have reached a temporary deal. Negotiations are continuing to help both sides hammer out a permanent agreement.

The value of exports to Iran last year totaled €57 million ($69.5 million), with the main products sold including soft drink concentrate and medical and pharmaceutical products. Iran sold Ireland just under €1 million ($1.2 million) worth of goods, including vegetables and fruit.