IRELAND/IRAN: An Irish trade mission led by the Minister of State, Mr Frank Fahey, examined the Iranian market yesterday in an effort to cultivate commercial ties between the countries.
In the first trade mission to Iran in a decade, representatives from 28 Irish companies in software, food and education sectors met with government officials and visited Iranian companies to learn about possible business opportunities.
Mr Fahey said he had discussed the BSE ban on Irish beef exports with Iranian officials, and he was optimistic that the ban may soon be lifted.
Before the ban Irish beef exports to Iran were worth over $100 million a year. "We have overcome the technical difficulties," said the Minister.
Speaking to a packed audience of Iranian and Irish businessmen, academics and government representatives at the Irish Ambassador's residence in Tehran, he said he believed the visit had been a success. "It is very clear that the Iranian government is very anxious to do business with Ireland."
Irish annual exports to Iran net over €17 million a year, but Irish companies believe the potential is greater in a largely untapped market that has begun to open up to foreign investment.
"It's a booming market", said Mr Gregory Kane, of CR2, an Irish company specialising in banking systems. "There is huge growth here, and lots of early worms to be caught."
Iran's economy is growing at an annual rate of 6 per cent, and tariffs on imports have been steadily reduced in recent years.
The Irish trade mission coincides with recent criticism from the EU over Iran's human rights record and its nuclear programme. The EU has suspended talks on a trade and co-operation agreement with Iran, citing disputed elections in February when more than 2,000 reformist candidates were barred from standing for office.