Economy & Trade-Bilateral Relations

Iran and Ireland have always had good relations with each other. In recent years, particularly between 2015 to 2018 we witnessed a significant surge in bilateral economic relations. It proved the existing capacity of both countries for expanding their bilateral economic and trade relations. The scale of the relationship between Iran and Ireland has enormous potential to grow and develop in the years ahead. However, since 2019, the illegitimate U.S. sanctions on Iranian banking system have negatively affected both countries trade.

For Irish businesses there are many potential opportunities in a number of key sectors in Iran. All of these potentials and factors lead to a genuine mutual understanding and make it very easy for the companies and people of both to do business together.

Iran is a country where everything exists in terms of resources. It is a country where a variety of new technologies and services are in demand, and Ireland has the perfect opportunity to target this market. In the wake of Brexit, Irish exporters now, more than ever, need to explore new markets, and Iran is a significant market in this regard.  This cooperation should focus on joint venture and joint investment, as well as on exports and imports. 

Iran is seen as one of the great untapped market. The bulk of the exports of Ireland to Iran comprised office machines, data processing equipment and significant exports of medical and pharmaceutical equipment and daily produce.

Iran also has a huge capacity for export and at the moment Iran exports fruits, vegetables, sugar, and plastics to Ireland. 

Useful links are as follows:

https://ifpnews.com/tag/iran-ireland

https://ifpnews.com/tehran-dublin-discuss-promotion-of-ties-in-new-york

https://ifpnews.com/irish-tour-organizers-in-iran-to-get-familiar-with-its-tourist-attractions

https://www.irishtimes.com/news/social-affairs/religion-and-beliefs/iran-and-ireland-s-common-histories-recalled-1.3790270

https://theiranproject.com/blog/tag/iran-ireland-relations

https://financialtribune.com/tags/iran-ireland-relations

https://www.rte.ie/news/2019/0719/1063958-iranian-ambassador-ireland

https://www.independent.ie/business/farming/beef/ireland-is-anxious-to-trade-with-iran-but-there-are-issues-creed-37957122.html

https://www.thejournal.ie/isca-wants-iran-embassy-reopened-3124793-Jan2017