Iran’s exports to EU up by 10%

Iran’s non-oil exports to EU member states rose by 10 percent in the Iranian year ending March 2010, the Trade Promotion Organization (TPO) of Iran has said.

Iran exported more than $2 billion in non-oil products in the year 1388, which ended on March 21, 2010, up from $1.8 billion in the previous year, said Reza Tofiqi, an official for the TPO international affairs.

He added that Iranian imports from the European Union dropped to $14 billion last year from $16 billion the previous year, which showed a fall of 13 percent.

According to the European Commission statistics, the EU is Iran’s largest trade partner and accounts for one-third of all Iranian exports.

Experts say Iran’s trade with the EU has significant growth potential; however, its development has been hampered due to a standoff over Iran’s nuclear issue.