September 18, 2021

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Most Countries Do Not Risk Trade With Iran

Most Countries Do Not Risk Trade With Iran
Most Countries Do Not Risk Trade With Iran

Former Head of Trade Promotion Organization (TPO) Mohammad Reza Modoudi says most of countries like China, Taiwan, Thailand and other ones which are members of Shanghai Cooperation Organization (or Shanghai Pact) and of major trade allies of the U.S. do not want to come under the U.S. pressures due to trade with Iran, adding that most countries have the same problem and even neighboring countries like Iraq under the U.S. pressure are not willing to trade with Iran.

TEHRAN (Iran News) – Most Countries Do Not Risk Trade With Iran. Former Head of Trade Promotion Organization (TPO) Mohammad Reza Modoudi says most of countries like China, Taiwan, Thailand and other ones which are members of Shanghai Cooperation Organization (or Shanghai Pact) and of major trade allies of the U.S. do not want to come under the U.S. pressures due to trade with Iran, adding that most countries have the same problem and even neighboring countries like Iraq under the U.S. pressure are not willing to trade with Iran.

Speaking to ILNA and touching upon the possibility of Iran’s joining to the Shanghai Pact, Modoudi said that the sooner Iran becomes member of the regional blocs the more it will benefit, adding that it is necessary to increase our shares in the regional pacts in the current condition. He noted that currently Iran’s share of the regional pacts is insignificant and it is a very big weakness for Iran’s economy and trade.

Modoudi said that the Shanghai Pact is a very important pact in the South East Asia and there is a very big market in the region and at the same time member states of this pact enjoy high capacities for trade and therefore this is a very good opportunity for Iran. He admitted that although it is not so easy for Iran to join the Shanghai Pact, if Iran can overcome different political and economic issues hindering its membership in the pact, it will be a good opportunity for Iran’s trade to create a good capacity economically.

He went on to say that one of the important obstacles is the banking problem and banking connection needs membership of the FATF or membership in the monetary pacts. He said international affairs have been affected by the sanctions and most of the goods are under sanctions and this hinders having proper trade relation with the trade.

Modoudi said that most countries are not willing to risk trade with Iran to avoid the U.S. punishment because for them trade with the U.S. is more important.

He also said that for presence in the international markets for exports, Iran should improve quality of its products and without taking such a measure, it will be impossible to increase the export volume and the country should improve the required capacities for improving quality.

Modoudi admitted that in the past, there has been no proper measure for improving the quality and capacity for international competition and only few products are high quality, adding that except petrochemical, steel or some mining products which are good quality, the country has fallen behind in boosting and promoting other products.

Original News : https://irannewsdaily.com/2021/09/most-countries-do-not-risk-trade-with-iran/

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