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Iran, great expectations since the end of the embargo

The end of the Western embargo against Iran is perhaps the most important diplomatic victory in recent years in the Middle East

The end of the Western embargo against Iran is perhaps the most important diplomatic victory in recent years in the Middle East. It was achieved with great determination by President Barack Obama, despite the opposition of Saudi Arabia and Israel. Tehran will stop its nuclear programs in exchange for a return to full membership in the international trade.

A NEW CHAPTER FOR ITALIAN F&B – These are undoubtedly unfavourable times. Low oil prices (one of Iran’s biggest economic assets) means that the coffers of the Middle Eastern state will not fill quickly. Yet, it’s the beginning of a very important new chapter, as explained by Persian President Hassan Rouhani while visiting Italy. This is also an opportunity for the Italian food industry, as Maurizio Martina (Minister of Agriculture) said. In early February, he led a delegation of business companies in Iran itself.

THE PARTICIPANTS IN IRAN FIRST MISSION – Among the companies that participated in this historic first mission are Ambrosi, Bolton, Ferrero, Granarolo, Gruppo Cremonini, Olitalia, Parmalat, Salumificio di Casa Largher, Vicenzi and Zanetti. The goal is to lay the foundations for future exchanges, regulated by a memorandum of understanding between Federalimentare and Ifif—Federation of Iranian Food Industries Association —which was signed on this occasion.

ITALIAN FOOD EXPORT TRENDS  – With the end of the sanctions, Italy’s agri-food exports to Iran could double within three years, reaching 40 million by 2018. Perhaps it is not a huge result, but it is still a good start for a country that is located in an area – the Middle East – where the interest in Made in Italy food products is growing fast. Not surprisingly, in 2015, Saudi Arabia and the United Arab Emirates were the most active countries for Italy’s exports. At present, about 20 million euro worth of goods is being shipped to Iran. Our most exported products are olive oil and vegetable oils, followed by sweets and vinegar, while pasta consumption is still quite limited.

 

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