Iran's exports to EU jump three fold following nuclear deal

Iran's exports to the European Union have increased three fold after the implementation of nuclear deal between Iran and the six major world powers in 2015, European Climate Action and Energy Commissioner Miguel Arias Canete said Saturday.

Iran's exports to the EU stood at 5.494 billion euros in 2016 as compared to 1.235 billion euros in 2015 due to the EU resuming oil imports from Iran following the nuclear deal.

Canete made the remarks in the opening ceremony of the first Iran-EU Business Forum on sustainable energy, which has brought together more than 50 European companies and business associations and some 40 Iranian energy companies.

Iran and six world powers, including Britain, China, France, Germany, Russia and the United States, reached an agreement on the Iranian nuclear issue in July 2015 that put it on the path of international and western sanctions relief but with more strict limits on nuclear program.

EU and Iran have boosted cooperation with each other in different sectors in 2016 and managed to sign many agreements, Canete said, adding that the block is keen on cooperation with Iran in the nuclear energy sector.

Canete expressed readiness of the EU to transfer their experience in the development of clean energy to Iran so that Tehran would be able to meet 30 percent of its energy needs from renewable energy resources by 2030.

He urged both sides to continue to upgrade their ties and called for the help of European firms to make more investment in Iran.

He expressed hope that the ongoing forum in Tehran would lay the ground for interaction in clean energy. Endit