Iranian trade team to visit UK despite sanctions

London, Jan 26, IRNA -

An Iranian private-sector-trade delegation will visit London early
next month to discuss upgrading trade ties with counterparts in the
United Kingdom.

Martin Johnston, director general of the London-based British-Iranian
Chamber of Commerce, told IRNA that the Iranian team from
non-governmental Iran-British Chamber of Commerce, Mines and
Industries will arrive in the first week of February to conduct trade
talks with Iranian and British businessmen in Britain.

He said the level of direct and indirect trade relations between Iran
and Britain has increased remarkably in 2008.

Johnston said that despite restrictions and UN sanctions, Iran-UK
relations in the business sector remain at a high level.

"According to the statistics by Her Majesty's government, more than
360 million pounds of British goods have been directly exported to
Iran in 2008," he said, adding that the figure indicates a one-percent
growth when compared with the year earlier.

Johnston said the level of indirect exports to Iran has also increased
as the UK exports to the United Arab Emirates exceeded 400 million
pounds in 2008, registering a record number of 35 percent growth.

Referring to the US-backed sanctions on Iranian banks abroad and
restrictions imposed by the European Union on British banks in their
transactions with Iranian counterparts, Johnston said his chamber has
managed to find 'practical ways' of facilitating commerce between Iran
and the UK.

"Iranian and British businessmen are keen and resourceful in
conducting direct and indirect ties. However, EU and UN rules and
regulations prevent us from trading with Iranian banks," he said,
adding that transactions are now taking place through a third party,
which is the UAE.

Johnston said that Iran and the UAE have been having 'historical and
traditional' commercial ties, adding that Britain is conducting
business with Iran indirectly through legal channels from the UAE.

He hoped that the current global economic crisis would force parties
engaged in Iran's nuclear program to reach consensus and resolve the
issue.

"So in that case, we could be witness to the facilitation of trade
ties between Iran and Europe," he said.

Also speaking to IRNA, Yousef Daneshvar who is the deputy chairman of
the British-Iranian Chamber of Commerce said a large portion of
British exports to the UAE are transited to Iran.

Daneshvar said more than 8,000 Iranian companies are operating in the
UAE, proving a 'good opportunity for British businessmen to trade with
Iranian counterparts'.

He noted that despite US sanctions on Iran, the country's trade is
continuing with the UK through free trade zones in the Emirates.

"Between five to 10 percent in commission is given to UAE so that
trade could be done between Iran and the UK," he said.

Daneshvar added that dried fruits and fresh fruits account for the
highest amount of exports from Iran to the UK while spare parts
particularly in the oil and petrochemical sectors are imported to Iran
from Britain.

He noted that due to last year's cold weather across Iran, the exports
of dried fruits such as saffron and nuts have declined.

The British-Iranian Chamber of Commerce is a non-state British company
which aims to improve trade ties with Iran.

End