Iran and the Czech Republic are exploring ways to significantly boost bilateral trade, aiming for a target of $1 billion in the coming years, a senior Iranian business leader said on Thursday, citing positive momentum in Iran-US negotiations.
Qadir Qiafeh, Vice President of Iran Chamber of Commerce, Industries, Mines, and Agriculture, made the remarks during a joint meeting with Josef Jaros, chairman of the Association of Small and Medium-sized Enterprises of the Czech Republic.
"Given the positive outlook in Iran-US talks, there is an opportunity for the chambers of commerce of Iran and the Czech Republic to develop a roadmap to achieve a $1 billion trade volume," Qiafeh said.
He acknowledged that sanctions pose challenges to bilateral trade, but emphasized that private sector cooperation remains largely unaffected by secondary sanctions. "No sanctions, including secondary ones, directly target the private sector," he added.
Despite the potential, Qiafeh expressed concern over a decline in trade volume between the two nations, which dropped to $36 million in 2024. However, he highlighted the strength of Iran’s private sector, comprising 110,000 active members, and pointed to Iran's $460 billion GDP as a solid foundation for growth.
Qiafeh also noted that the Czech Republic’s exports and imports—valued at $230 billion and $210 billion respectively—present complementary trade opportunities for both sides over a five-year horizon.
Josef Jaros, speaking at the same event, said the Czech Republic is particularly interested in cooperating with Iran in industrial services, pharmaceuticals, medical equipment, IT, water treatment, and technology transfer. “We see strong potential for collaboration, especially among small and medium-sized enterprises,” Jaros said.