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The US trade in goods with Iran in January-September 2016 has decreased by five percent compared to the corresponding period in 2015 when the figure was $185 million, according to the data released by the US Census Bureau.

During the 9-month period, the value of US exports to Iran has stood at $114.9 million while US imports of Iranian goods reached $62.1 million.

The figures show a sixfold rise in the value of Iranian exports to the US during the nine-month period, while US exports to Iran has decreased by more than 60 percent in comparison the figures for the same period in 2015.

The US had not imported any goods from Iran in 2014 and in the first eleven months of 2015.

Iran-US trade has fallen remarkably in recent years in the wake of Western sanctions on Iran over its nuclear program and the Joint Comprehensive Plan of Action (JCPOA) — a nuclear agreement between Iran and the P5+1 (Russia, China, the US, Britain, France and Germany) which came into force in January — has helped to change the trend.

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A total of 300 electricity firms from the US, China, Germany, Austria, Italy, France, Britain, Taiwan, Canada, the UAE, Poland, Spain, Japan, South Korea, Russia, Turkey, Sweden, the Czech Republic, Finland, India and Switzerland are taking part in the expo which is underway at Tehran's International Fairgrounds.

The exhibition has also attracted 350 domestic enterprises which view the event as a good opportunity for enhancing marketing networks in the field of electric power industry.

Other participants include 20 Iranian knowledge-based companies, established by local intelligentsia in the electricity industry.

A deputy energy minister said the 16th edition of the IEE enjoys greater significance than previous ones, as it comes in the post-sanctions era and follows the implementation of the Joint Comprehensive Plan of Action (JCPOA), a nuclear agreement between Tehran and the P5+1 (Russia, China, the US, Britain, France and Germany).

The international exhibition is showcasing numerous electrical equipment in the fields of power, electronics, electrical substations, power distribution and control, process control products, electricity measuring, automation systems and equipment, lighting systems, maintenance and services as well as renewable and new sources of energy.

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