Zim exports to Iran collapse to $1,000, envoy blames banking troubles

Zim exports to Iran collapse to $1,000, envoy blames banking troubles

HARARE, September 20 (The Source) – A visiting Parliamentary delegation from Iran on Wednesday expressed concern over the extremely low trade volumes between Zimbabwe and Iran.

Chairman of the Iran-Zimbabwe Parliamentary Friendship Group, Mostafa Kavakebian who is also a member of the Iranian Parliamentary Portfolio Committee on National Security and Foreign Policy, together with his delegation yesterday told members of the Parliamentary Portfolio Committee on Foreign Affairs that inefficiencies in Zimbabwe’s banking sector had severely affected trade between the two countries.

“We believe that there are serious problems in the banking sector in Zimbabwe, and would like banking relations to be improved because Iranian businessmen in Zimbabwe are saying that it is very difficult to transfer money,”  said  Kavakebian.

Iranian Ambassador to Zimbabwe Ahmad Erfanian said business was so low that this year Zimbabwe has only managed to export goods worth $1,000 to Iran.

“The level of exports between the two countries according to our statistics is very low and currently exports from Zimbabwe to Iran were $1,000,” Erfanian said.

“Last year exports from Zimbabwe to Iran were $4,8 million, and two years ago exports from Iran to Zimbabwe were $400,000, and last year it was $200,000.”