Companies active in transactions between Iran and Switzerland are showing more interest in agricultural and medical products which has led to an increase in the share of these items in bilateral trade between the two countries, a businessman said.
Sharif Nezam Mafi, Head of Iran-Switzerland Joint Chamber of Commerce, said that Iran and Switzerland are economically and commercially complementary, IRNA reported on Friday.
“As Switzerland’s industries and commodities meet our needs, the Iranian products also help the industrial growth in Switzerland,” Nezam Mafi said.
The two countries have continued with their trade relations over the past decades despite the US unilateral sanctions against Iran.
A report by Iran Customs Administration (IRICA) on August 1 showed that Switzerland ranked as the fifth main exporter to Iran over the first four months of the current Iranian calendar year (started on March 20) with $539 million worth of shipments following the UAE, China, Turkey and Germany with $4.7 billion, $3.1 billion, $1.5 billion and $563 million respectively.
Nezam Mafi said that trade exchanges between Iran and Switzerland have grown over the past few months with cereals and medical equipment being the main import items of Iran from the European country.
The Swiss companies did not leave Iran during sanction times, he said, adding that the trade exchanges between Iran and Switzerland continued despite the obstacles.
Nezam Mafi noted that if Iran and that world powers agree on revival of a 2015 Iran nuclear deal (known as JCPOA), a significant growth in bilateral trade with Switzerland is within the reach.
He had earlier predicted a $10 billion potential capacity for Iran-Switzerland trade once the JCPOA is revived and the restrictions on banking transactions are removed.