Richard Bruton, Ireland’s Minister for Enterprise, stated that the visit will be the first by the agency since 2007. He also added that the visit will be aimed at recognition of the potential represented by the Iranian market.
Following the visit, a strategy will be put in action as to how best to back the client companies which may like to explore the Iranian market further.
Ireland exported €57 million worth of products to Iran in 2013. The main part of the goods traded were either soft drink concentrate or pharmaceutical materials.
Not only is this not a significant amount of trade, Ireland’s imports from Iran are only worth €1 million a year (most of which is fruits and vegetables). The lack of exports and imports is thought to be due to tough EU sanctions that limit trade relationships between the European and the Middle Eastern countries.
However, as prospects of easier situations loom, Ireland is looking for possible opportunities in Iran.