Iran Triples Latin American Trade To US$2.9 Billion Written by Santiago Times Staff Monday, 07 December 2009 05:04 Brazil is Iran’s most important trading partner, followed by Argentina
International Monetary Fund data analyzed by the Latin Business Chronicle confirms that Iran-Latin American trade soared 209% in 2008, totaling US$2.9 billion.
Brazil remains Iran’s main trading partner and exporter, but Ecuador has replaced Peru as the main importer of Iranian products.
Bilateral trade with Brazil reached US$1.26 billion in 2008, up 88% from 2007, said the IMF data. But during Iranian President Mahmoud Ahmadinejad’s recent visit to Brazil, Brazilian sources calculated 2007 trade at US$2 billion.
Neither Brazil nor Iran has published statistics on their bilateral trade, said Latin Business Chronicle.
Trade with Argentina totaled US$1.2 billion in 2008, a dramatic increase compared to the US$30 million seen in 2007.
Trade is overwhelmingly favorable for Argentine exports and has advanced in spite of the diplomatic rift between the two countries following Argentina’s claim that Iran was behind the 1994 terrorist bombing of a Jewish institution in Buenos Aires which left many killed and hundreds injured.
Iran’s trade with Ecuador has also skyrocketed - to US$168 million in 2008, from a US$6 million the year before.
In spite of the excellent political and diplomatic ties between Venezuela and Iran, bilateral trade is still in diapers: US$52 million in 2008, up 31% from the previous year. This makes Venezuela Iran’s fifth most important trade partner in the region.
Other significant Iranian trade partners in the region include Mexico, Peru, Chile and Uruguay. Since Iran’s revolution, Uruguay has become a strong supplier of rice, wool, and skins and, on occasion, beef.
SOURCE: MERCO PRESS