Exports to Europe 10-folded in post sanctions era

Since the implementation of the Joint Comprehensive Plan of Action (JCPOA), which lifted the sanctions against Iran, the country’s exports to Europe has increased by 10 folds, German Ambassador to Tehran Michael Klor-Berchtold announced, AVA Diplomatic reports.

The envoy made the remarks in the second day of the sixth edition of Iran-Europe banking and business forum in Tehran on Sunday.

Klor-Berchtold expressed hope that the remaining obstacles, such as the issues of FATF, would be removed by June 2018 to ease the trade between Iran and Europe.

“To expedite Iran-Europe business ties, Iranian banks should meet standards of International Financial Reporting Standards (IFRS) to reach the optimum level of transparency on the way to attract foreign investors and facilitate financial transaction,” he added.

The sixth edition of Iran-Europe banking and business forum kicked off on Saturday morning in the presence of Iranian and European high-ranking banking officials at Tehran’s Espinas Palace Hotel.

As reported the two-day event revolves around several subjects including Iran’s banking and trade relations two years after the implementation of its nuclear deal (known as JCPOA), as well as the perspective of Iran and Europe’s banking ties in the future, risk management, non-performing loans (NPL), International Financial Reporting Standards (IFRS), renewable energy resources, and finally introducing investment opportunities in Iran.