Australia, Brazil purchase Iranian petrochemicals

TEHRAN, Dec. 28 (MNA) – A TCCIMA official said negotiations with Australia and Brazil on petchem sales have become finalized the a hexamine cargo will be soon deployed to Canberra.

On latest status of petrochemical exports in the post-JCPOA era, Member of Board of Directors of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) Hamed Vagedi said “petrochemical industry is among lines of business which were positively affected by implementation of the Joint Comprehensive Plan of Action (JCPOA).”

He recalled that side-effects of sanctions will be alleviated gradually adding that ten-year-old sanctions cannot be removed overnight.

The official deemed resumption of shipping lines and maritime transportation as one outcome of JCPOA for it reduced certain export costs.

Vahedi said yet another positive result of the Nuclear Deal was facilitation of trade document issuance; “the issue eliminated the need for repeated renewal of loading or transport documents and further decreased excessive costs of goods export and money transfer.”

“Overall, JCPOA has exerted a positive effect on activities of Iranian exporters,” stressed the TCCIMA member underlining that, despite criticisms against the deal, sanctions removal has brought about resolutions to exports sector.

Touching upon new markets for exports of petrochemical products, he noted that negotiations on exports to new markets like South America and Australia have recently yielded results.

Iran produced over 46 million tons of petrochemical products in the previous Iranian calendar year 19 million tons of which were shipped to global markets.

During sanction years, several export markets of Iran were taken up by international and regional rivals and Iran lost its destination markets even in Europe and America.

Revenue transfer also faced obstacles during sanction years, a matter which left adverse effects on exports to traditional markets in Asia and regional states.

Meanwhile, implementation of JCPOA, removed barriers to cooperation with international companies and paved the path for revival of Iran’s export markets in Asian, America, Oceania as well as Africa.

HA/IRN82363023

News Code 122340

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