MBN-Company

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.

Iran-US-Trade-Import-Export-Data-Equipment-Medical-

www.mbncompany.com

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.

Iran-International-Electricity-Exhibition-Import-Export-Equipment-Medical-IEE

www.mbncompany.com

Asghar Fakhrieh Kashan added that the contracts to purchase airplanes from the two companies have reached the final stage with an understanding to begin joint work.

The official said the purchase of 111 aircraft from Airbus at less that $10 billion and 108 planes from Boeing is close to being finalized.

The draft contract signed in Paris last year envisaged the production of software and hardware for Airbus planes by Iranian companies in cooperation with office of vice-president for science and technology studies, so the Iranian companies will be placed on the list of Airbus planes spare parts suppliers, Fakhrieh Kashan said.

Following the draft agreement, representatives from Airbus came to Iran and an executive committee was set up to conduct expertise works while qualified Iranian companies were tasked with producing spare parts and offering services which meet global standards.

He added that the same process is to be pursued for Boeing.

The US Treasury Department authorized sales of passenger planes by Airbus and Boeing.

Iran Air is to buy more than 200 planes and the delivery is expected to begin by the end of the current year.

Iran-Import-Export-Boeing-Airbus-Minister-Airplane-Company-Equipment-Representative-Iran Air

www.mbncompany

Representatives from NRI and Iran Power Generation and Transmission Company (TAVANIR) will form a working group to establish the priorities for cooperation.

CESI Company, which has long international experience in presenting techno-engineering services, test and evaluation of equipment, will issue licenses and revise electricity industry designs.

In September, NRI and Mechanical Engineering Faculty of Dresden University in Germany signed an MoU on developing interaction and scientific ties.

Iran-Niroo--Research-Institute-Representative-Mechanical-Italy-Engineering-Import-Export-Equipment-Medical-Trade

www.mbncompany.com

Iran’s official figures show that the country’s imports from Germany have increased by a quarter in what could be a fresh indication of growing opening in Iran’s post-sanctions business environment, Press TV reported on Friday.

Figures released by the Customs Administration of Iran showed that the country imported $1.27 billion worth of goods from Germany over a period of seven months starting 21 March 2016 – the start of the current Iranian calendar year of 1395.  

This shows an increase of around 25 percent compared to the same period last year.  It also shows that Germany is now the fifth main exporter to Iran and the leading European country with a significant level of trade activities with the Islamic Republic. 

The top four exporters to Iran – as figures relating to the same seven-month period showed – are China ($5.71 billion), the UAE ($4.98 billion), South Korea ($1.88 billion) and Turkey ($1.55 billion), figures released by the Customs Administration of Iran showed.

The top importers of Iranian non-oil commodities and services over the same period have been China ($4.43 billion), the UAE ($3.88 billion), Iraq ($3.50 billion), Turkey ($2.50 billion) and South Korea ($1.95 billion).

A majority of Iran’s exported items are downstream products such as condensate, liquefied petroleum gas, gas oil, propane and others.

Key items imported during the period have been cattle feedstock, soy, rice, auto spare parts and vehicles.

Figures released by Iran’s Customs Administration last month showed that the country’s non-oil exports to Europe for a period of five months starting 21 March 2016 had increased by 21 percent. Top importers were accordingly identified as Italy, Spain and Germany.    

Iran-import-export-Germany-business-equipment-South Korea-increase- administration-

www.mbncompany.com

Majid Khodabakhsh added that Iran-Azerbaijan trade turnover in the seven months to October 21 increased by 65 percent, Trend News Agency reported.

Khodabakhsh headed a provincial delegation on an official visit to Azerbaijan Republic last week.

During the visit, he held talks with Azeri President Ilham Aliyev, Economy Minister Shahin Mustafayev, Minister of Agriculture Heydar Asadov and Minister of Emergency Situations Colonel General Kamaladdin Heydarov as well as Head of Sumgayit City Executive Authority Zakir Farajov, the report added.

In his meetings, Khodabaksh pointed to prospects for joint investment between Iran and Azerbaijan, noting that there are appropriate grounds for enhancing ties between the two nations in fields such as oil, gas, food and agriculture.

Ardabil exported goods valued at about $57 million to Azerbaijan over the past year. The main export items from the province included potatoes, poultry, ceramics and sanitary ware.

trade-Iran-Azerbaijan-export-import-equipment-oil-gas-food-agriculture-

www.mbncompany.com

The first flight of the company in its new Iran service period landed at Tehran's Imam Khomeini International Airport (IKIA) on Saturday evening, local media reported.

The Amsterdam-based company had suspended flights to Iran since April 2013 in what its officials said was a result of 'economic reasons'.

KLM Managing Director and Chief Operating Officer René de Groot said that his company is set to establish four flights to Tehran each week.

He underlined that his company is happy to resume flights to Iran, adding that he hopes the sanctions against the Islamic Republic would never return.

"What we do is [that] we continue as long as we can," de Groot told IRIB. "Of course, we hope that the sanctions will not come back and we can grow even with more frequencies."

KLM had in August announced that its Flight KL0433 will depart from Amsterdam to Tehran on Tuesdays, Thursdays, Fridays and Sundays as of late October 2016.

The flights will be operated with a Boeing 777-200 in a three-class configuration with 34 business seats, 40 seats in economy comfort and 242 seats in economy, it added.

Including the new flights to Tehran, KLM now offers 37 flights to nine destinations in the Middle East.

Several international airlines are resuming flights to Iran to tap into increasing opportunities in the country after the recent lifting of sanctions.

British Airways also resumed direct flights to Iranian capital Tehran from July. The airline now operates six weekly flights and will move to daily flights from winter 2016.

iran-germany-flight-airlines-KLM-Dutch-import-export-equipment-international

www.mbncompany.com